Table of Contents
Executive summary Introduction Company and product background
Provide an analysis of the business and product performance Company objectives and corporate strategies What is the product and needs does it satisfy?
1 2 3 3 4 6 7 7 10 12 14 15 16 17 18 19 20 21
Country and product market attractiveness
Politico-legal, socio-cultural and demographic, economic, technological Product market analysis Competitive analysis
Buyer Analysis Opportunity statement Marketing…show more content… Once again TOWER has continued its aggressive growth with total life insurance premium inﬂows for the year ending September up 40.7% to $1.1 billion. Other life insurance companies that achieved signiﬁcant positive growth were AMP (20.3%), AIA (18.2%), OnePath (12.0%), National Australia / MLC (11.4%) and BT / Westpac (10.2%). CommInsure continues to suffer falling premium inﬂows, with a 7% drop for the 12 months ending September to $1.14 billion. 1 Major players and insurance market share Companies name MLC Life Insurance CommInsure Life Insurance OnePath Life Insurance Tower Life Insurance AIA Life Insurance AMP Life Insurance AXA Life Insurance . Asteron Life Insurance BT / Westpac Life Insurance MetLife Life Insurance Market share 15.3% 12.5% 12.3% 12 % 8.8% 8.8% 7.6% 7.4% 4.9% 2.8%
Source: "Media Release Life Insurance Industry Results - September 2010, Plan For Life Pty Ltd"
Company objectives and corporate strategies
Company overview Westpac Banking Corporation -Westpac- began trading on 8 April, 1817 as the Bank of New South Wales with a single ofﬁce in Macquarie Place, Sydney. In 1982, with the merger of the Commercial Bank of Australia, it changed its name to Westpac