28 Insurance Companies In Australia - See Top 10

We will be briefly discussing about the following topics;

28 Registered Life Insurance Companies In Australia

Which is the best insurance company in Australia?

How does life insurance work?

Top 10 Best Life Insurance Companies in Australia.

What is market share?

Now let's begin with the first one,

28 Registered Life Insurance Companies In Australia

According to the Australian Prudential Regulation Authority – APRA, the Registered Life Insurance Companies in Australia are about 28 in number. You can check out the full list of companies registered under section 21 of The Life Insurance Act 1995. Below is the list of insurance companies in Australia.

1.  AIA Australia Limited

2.  Allianz Australia Life Insurance Limited

3.  AMP Life Limited

4.  Asteron Life and Superannuation Limited

5.  Challenger Life Company Limited

6.  ClearView Life Assurance Limited

7.  Colonial Life Insurance Company of Australia Ltd

8.  Combined Life Insurance Company of Australia Ltd

9.  General Reinsurance Life Australia Ltd

10.  Hallmark Life Insurance Company Ltd

11.  Hannover Life Re of Australasia Ltd

12.  HCF Life Insurance Company Pty Limited

13.  Integrity Life Australia Limited

14.  Macquarie Life Limited

15.  MetLife Insurance Limited

16.  MLC Limited

17.  Munich Reinsurance Company of Australia Limited

18.  OnePath Life Limited

19.  Pacific Life Re (Australia) Pty Limited

20.  QInsure Limited

21.  RGA Reinsurance Company of Australia Limited

22.  SCOR Global Life Australia Pty Limited

23.  St Andrew’s Life Insurance Pty Ltd

24.  Swiss Re Life & Health Australia Limited

25.  Tal Life Limited

26.  The National Mutual Life Association of Australasia Limited

27.  Westpac Life Insurance Services Limited

28.  Zurich Australia Limited

Source: apra.gov.au

Above is the list of all the Registered life insurance companies in Australia.

Which is the best insurance company in Australia?

It can be a bit difficult to say that a particular insurance company in Australia is the best. When having life insurance comparison, you can only be able to select the best insurance company for yourself according to your preferences or for your circumstances by considering a few factors.

These are the factors to consider when choosing an insurance company as that will be your basis for life insurance comparison; your monthly premium, reports on the insurer's customer service reports, the benefits you can receive from them and the terms and conditions.

The benefits of life insurance companies in Australia you get should be your top priority in choosing your best insurance company.

How does life insurance work?

Life insurance covers and ensures that your family your family is protected even when you are not there anymore.

Top 10 Best Life Insurance Companies in Australia.

This rating of the top insurance companies in Australia is based on their market share. From the list below, we can be able to justify the best Life Insurance provider.

What is market share?

Market share is simply referred to as the portion of the total life insurance industry maintained within one company and is also usually structured on their organic growth, mergers and acquisitions and strategic partnerships, which also includes the super funds.

TAL Life Limited: 27.7% market share - This is the leading life insurer in Australia.

AIA Australia Limited: 18.8% market share

Zurich: 14.4% market share

MLC Limited: 11.0% market share

Resolution Group: 9.5% market share

BT Financial Group: 5.8% market share

MetLife Insurance Limited: 4.9% market share

Others: 6.4% market share

ClearView Life: 1.7% market share

Note that this list might change with time as market shares can change due to many reasons.