Farm Insurance NZ
While insurers are enjoying a positive outlook due to rising investment income, Swiss Re's Chief Economist, Jerome Haegeli, warns that the imposition of tariffs could decelerate global GDP growth, subsequently impacting insurance demand. In the long run, US tariffs may lead to increased market fragmentation, potentially lowering the affordability and availability of insurance, which could harm global risk resilience.
In the context of Australia, the report foresees profitability growth, primarily led by improvements in underwriting results. Return on equity for Australia, along with six other advanced economies, including France, Germany, Italy, Japan, the UK, and the US, is projected to climb to 9.7% this year, maintaining stability through 2027. This outlook is supported by stable underwriting and enhanced investment outcomes.
Despite facing potential headwinds from tariff-induced growth slowdowns and financial market volatility, the insurance industry is expected to remain profitable. However, the immediate future for advanced markets indicates a significant deceleration in premium growth due to weakening price strength.
In Australia specifically, the property and casualty market reported reaching a premium volume of $98.38 billion last year, a jump from $89.5 billion in 2023. Although the report refrains from predicting the country's premium growth, it anticipates a moderation to 2.1% this year across developed Asia-Pacific economies, down from 2.9% in 2024.
The global non-life insurance sector is witnessing a slowdown in premium growth driven by softer pricing and policy-related uncertainties affecting economic momentum. A real growth rate of 2.6% in premiums is forecasted for this year, which is a decline from last year's 4.7% increase. Nevertheless, improved reinvestment yields are expected to bolster profitability.
Published:Friday, 11th Jul 2025
Source: Paige Estritori
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| ASIC Challenges Federal Court's 'Fair Term' Ruling 09 Jul 2025: Paige Estritori The Australian Securities and Investments Commission (ASIC) is appealing a Federal Court decision regarding the wording of a 'pre-existing condition' clause in certain HCF Life insurance products. The court previously determined that while the wording had the potential to mislead consumers, it did not constitute an unfair contract term under the current laws set out in the ASIC Act 2001. - read more |
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| Tasmanian Government Insurance Proposal Faces Industry Backlash 07 Jul 2025: Paige Estritori The Tasmanian government's recent proposal to establish a state-run insurance entity has drawn significant criticism from key players in the insurance industry. The plan, spearheaded by Premier Jeremy Rockliff, aims to expand the Motor Accidents Insurance Board into a broader service named TasInsure, offering products including home and contents insurance, small business coverage, and more. The RACT, a major player in Tasmania's insurance sector, expressed considerable concern, labelling the initiative as a simplistic answer to complex problems. - read more |
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| Securing Your Farm's Future: Top Estate Planning Tips for New Zealand Farmers New Zealand's farming community forms the backbone of its thriving agricultural sector, yet many overlook the critical importance of proactive estate planning. With farmland often being held within families for generations, securing its future is not just a financial concern, but a deeply personal one as well. - read more
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| Customizing Your Farm Insurance: Tailoring Policies to Fit Unique Agricultural Needs Those who work the land know that every farm has its own heartbeat - its unique rhythm defined by the crops it yields, the livestock it nurtures, and the natural environment it exists within. Recognizing this individuality is crucial, especially when it comes to safeguarding your agricultural investment with the right insurance policy. - read more
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| Natural Disaster Preparedness: Insurance Tips for Farmers Facing Adversity In the heart of New Zealand's pastoral verdure, the significance of preparedness for natural disasters is paramount for the farming industry. The distinct landscape, while providing an idyllic backdrop for agricultural pursuits, is not without its challenges. Farmers are often at the mercy of nature's unpredictability, making disaster preparedness not just prudent but essential for the continuity of their livelihood. - read more
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| Protecting Your Farming Future: Why Machinery Breakdown Coverage is Essential Farming is a vital part of New Zealand's economy and cultural heritage, representing a way of life for thousands across the country. With its unique landscapes and diverse climate, New Zealand farmers are renowned for producing a wide array of high-quality products that serve not only the nation's needs but also supply a multitude of international markets. - read more
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| How to Choose the Right Farm Insurance Policy for Your Needs Farm insurance is a type of coverage designed specifically for the unique risks and operations involved in farming. It encompasses protection for farm dwellings, equipment, livestock, and crops, offering a tailored approach that reflects the diverse needs of farm owners. This coverage can help safeguard your livelihood against unforeseen events that could disrupt farm operations or result in significant financial losses. - read more
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| Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums Welcome to our comprehensive guide on navigating the complexities of farm insurance for Australian farmers. As an integral part of the agricultural industry, insurance provides a safety net that helps secure the livelihood of farmers against unpredictable events that can lead to financial hardship. From property damage due to natural disasters to loss of livestock or crops, having adequate farm insurance can make all the difference in keeping a farming operation afloat in times of crisis. - read more
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Protecting Your Farming Future: Why Machinery Breakdown Coverage is Essential Farming is a vital part of New Zealand's economy and cultural heritage, representing a way of life for thousands across the country. With its unique landscapes and diverse climate, New Zealand farmers are renowned for producing a wide array of high-quality products that serve not only the nation's needs but also supply a multitude of international markets. - read more
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Natural Disaster Preparedness: Insurance Tips for Farmers Facing Adversity In the heart of New Zealand's pastoral verdure, the significance of preparedness for natural disasters is paramount for the farming industry. The distinct landscape, while providing an idyllic backdrop for agricultural pursuits, is not without its challenges. Farmers are often at the mercy of nature's unpredictability, making disaster preparedness not just prudent but essential for the continuity of their livelihood. - read more
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Customizing Your Farm Insurance: Tailoring Policies to Fit Unique Agricultural Needs Those who work the land know that every farm has its own heartbeat - its unique rhythm defined by the crops it yields, the livestock it nurtures, and the natural environment it exists within. Recognizing this individuality is crucial, especially when it comes to safeguarding your agricultural investment with the right insurance policy. - read more
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