Country Profile – Australia : Australian insurance: Life at the crossroads?
Source: Asia Insurance Review | Apr 2011
Describing an industry as being ‘at a crossroads usually means that there are two paths that can be taken, one leading to success and the other to difficulties. Quite why this description is appropriate to a sector that enjoys government mandated growth of 9% per annum in one of its segments and expectations of 11% growth in another may not be immediately obvious. Mr Paul Ruiz, Partner, Financial Services, KPMG, gives an update on the sector, telling us about the increasing importance of superannuation for insurers and discusses the possible impact of the proposed reform of adviser commission on the sector.
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