New Zealand Insurance Update

We are pleased to launch our refreshed KPMG Insurance Insights Dashboard which brings to life key financial information from insurers’ publicly available financial statements through a range of interactive charts and graphs presenting key industry metrics, financial position and results up to 30 September 2024.

What’s particularly exciting about this year’s Insurance Insights Dashboard is that it’s the first time we’ve been able to present to you the full impact of the transition to IFRS 17 Insurance Contracts (IFRS 17), a new accounting standard for insurers.

All New Zealand insurers have now reported under IFRS 17, a huge milestone for an accounting standard which has overall proved challenging and time consuming to implement.

This year, we have also brought together the financial information of the entire insurance industry into one dashboard, allowing users to drill down by segment (general, health, and life) or by company.

All financial information presented in the Insurance Insights Dashboard is taken from insurers’ first set of IFRS 17 financial statements, including comparative information which has been restated on transition to the new standard.