Australia's Personal Insurance Business Looks Challenging -- Market Talk
Dow Jones
Sep 17
0056 GMT - Competition for new personal insurance business continues to look challenging for Australian incumbents, according to Macquarie analysts. They point to the 24% on-year growth in 2H gross written premium at Youi, an Australian subsidiary of South Africa's OUTsurance. This compares to 6.2% at Suncorp, and to 4.2% at IAG. The analysts tell clients in a note that Youi has stopped participating in broker sales to focus on direct marketing. Its growth was assisted by an increasing market share of compulsory third-party motor insurance in NSW state, they add. Macquarie stays neutral on both Suncorp and IAG. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
September 16, 2025 20:56 ET (00:56 GMT)
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