Affordability, Macro, Market report, Nat Cat, Non-life

Challenges amid US$21.6bn 2027 growth forecast for Australia’s GI Industry: GlobalData

GlobalData predicts Australia's general insurance market to grow to AU$123.1bn (US$77.7bn), driven by heightened healthcare awareness and increasing rates for property and motor insurance — but challenges remain.

Editorial team

October 23, 2023

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4 min read

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Market conditions continue to evolve as businesses review their priorities and plans for growth. The pace of change varies across the region, with local factors shaping how organisations respond.

Attention is turning to the balance between near-term opportunities and longer-term objectives. Decisions made today will help determine how businesses adapt as conditions develop.

While the outlook remains varied, the broader direction reflects a market adjusting to new demands. The implications will become clearer over time as plans move into practice.