Australian General Insurance Premiums Set to Surpass $144 Billion by 2029

Growth Driven by Rising Demand Amid Increased Natural Disasters

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

The Australian general insurance market is on a trajectory to see direct written premiums (DWP) exceed $144 billion by 2029, according to projections from data and analytics firm GlobalData.

This anticipated growth is largely fueled by heightened demand for coverage in response to the increasing frequency of natural disasters.

In 2024, the industry's DWP stood at $94.7 billion and is expected to rise to $102.8 billion in 2025. Personal accident and health insurance currently lead the market, accounting for 34.2% of DWP last year, with property and motor insurance following closely.

GlobalData's senior insurance analyst, Swarup Kumar Sahoo, notes that as insurers adapt to evolving consumer needs, the industry is poised for expansion. However, insurers must remain vigilant regarding rising claims costs, inflation, and the impacts of climate change, while focusing on innovation and customer-centric solutions.

For consumers, this projected growth underscores the importance of staying informed about insurance options and ensuring adequate coverage in the face of increasing environmental risks. As the market evolves, individuals should assess their insurance needs regularly to maintain appropriate protection.

Published:Sunday, 18th Jan 2026
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Heightened Road Risks During Holiday Season Due to Increased Freight Traffic

25 Jan 2026: Paige Estritori

As Australia enters the summer holiday season, insurers and transport specialists are raising alarms about heightened road risks resulting from the convergence of increased freight activity and holiday travel. This period sees a significant uptick in both passenger vehicles and heavy trucks on the roads, amplifying the potential for accidents and safety incidents. - read more

Celebrating Excellence: 2025 National Trucking Industry Award Winners

25 Jan 2026: Paige Estritori

The Australian Trucking Association (ATA) has proudly announced the recipients of the 2025 National Trucking Industry Awards, recognizing outstanding contributions and achievements within the sector. These awards highlight the dedication and excellence of individuals and organizations that drive the industry forward. - read more

Premiums Decline in Australian Construction Insurance Market

25 Jan 2026: Paige Estritori

Australia's construction insurance market has entered a softer phase in 2025, with premiums decreasing across various lines due to heightened competition among insurers. According to Marsh's Construction Insurance Market Update 2025, premium reductions averaged between 5% and 15% in the first half of the year. - read more

Labour Shortages and Supply Chain Issues Elevate Insurance Claims Costs

25 Jan 2026: Paige Estritori

In 2025, Australia's insurance industry is grappling with rising claims costs, particularly within the construction sector, due to labour shortages and supply chain disruptions. Crawford & Company's latest Claims Inflation Update highlights that construction expenses are increasing at a rate faster than general consumer prices, with the Building Cost Index (BCI) rising nearly 5% annually. - read more

Envest Group Unveils TLI Underwriting: A New Era for Heavy Motor Fleet Insurance

24 Jan 2026: Paige Estritori

Envest Group, a prominent player in Australia's insurance sector, has announced the launch of TLI Underwriting, a new agency dedicated to providing specialised insurance solutions for heavy motor fleet operators. This strategic move aims to address the unique challenges faced by larger transport businesses in Australia. - read more

Click for more Insurance News

Cafe Insurance Articles

Understanding Cafe Insurance: What Every Owner Needs to Know

Running a cafe can be a dream come true, but it's not without its challenges. One of the most critical aspects of managing a cafe is ensuring that it's adequately insured. Cafe owners in Australia face various risks, from equipment breakdowns to customer accidents. Without proper insurance coverage, these incidents can translate into significant financial losses. Insurance acts as a safety net, offering protection against unforeseen events and ensuring the business can recover swiftly. - read more

Accidents Happen: How Public Liability Insurance Safeguards Your Cafe

Running a cafe can be incredibly rewarding, but it comes with its own set of challenges. One of these challenges is managing the various risks that can arise, especially when dealing with the public daily. This is where public liability insurance becomes an essential part of your business toolkit. It's designed to protect your cafe from the financial fallout of accidents that can occur on your premises, which is crucial for safeguarding your business’s financial health. - read more

How to Create a Financial Risk Management Plan for Your Cafe

Owning a cafe is a rewarding venture, but it comes with its own set of financial challenges. To maintain financial stability, it's crucial to understand the unique risks associated with the cafe industry. This involves not only staying informed about economic trends but also anticipating potential disruptions. Recognizing these factors is the first step towards creating a solid risk management plan for your cafe. - read more

The Importance of Disability Income Protection Programs for Cafe Owners

Running a cafe is more than just a business; it’s a passion for many. However, for cafe owners, the risk of an injury or illness that could interrupt their ability to work is a genuine concern. Disability income protection is crucial as it provides financial security if you're unable to earn an income due to health issues. - read more

How to Choose the Right Insurance for Your Coffee Shop

Running a coffee shop involves more than simply brewing the perfect cup of coffee. It requires a sound understanding of the business's risks and a strategic approach to managing them. Choosing the right insurance coverage is crucial for safeguarding your investment. - read more

Knowledgebase

Depreciation:
The reduction in the value of an asset over time, used in insurance to calculate the actual cash value of property.

This website is owned and operated by Clark Family Pty Ltd (ACN 010 281 008) as Trustee for the Clark Family Trust (ABN 35 957 893 714), 43 Larch Street Tallebudgera QLD 4228. Clark Family Pty Ltd is an Authorised Representative (AR 1298860) of Unique Group Broker Services Pty Ltd (AFSL 509434) for financial product referrals and an Authorised Credit Representative (ACR 401491) of Saccasan Pty Ltd (ACL 386297). Check our licensing details on the ASIC registers: Clark Family Pty Ltd ACR, Clark Family Pty Ltd AR, Saccasan Pty Ltd, Unique Group Broker Services.

IMPORTANT: We do not provide financial product advice or credit assistance. We act solely as an introducer and refer enquiries to licensed third-party intermediaries, insurers, and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for validating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.