Kathmandu. The insurance industry is a significant contributor to New Zealand’s economy.
In the 12 months to September 2025, the financial services sector contributed 16.1 billion local currency ($9.65 billion) to the New Zealand economy. The insurance industry has played a major role in this.
This is according to New Zealand’s Financial Services Council (FSC) latest report ‘Insights into Financial Services in New Zealand’. Life and health insurance accounts for a significant part of New Zealand’s personal risk protection. This is measured by both applicable policies and claims paid.
According to the report, New Zealanders will have 4.13 million life insurance policies in the 12 months ending September 30, 2025. During this period, the companies paid 1.37 billion local currency in life insurance claims.
During this 12-month period, New Zealand’s health insurance companies had a total of 1.35 million valid health insurance covers, and a total of 2.55 billion local currency claims were paid through those coverages.
“However, New Zealand remains one of the least insured countries in the OECD,” FSC CEO Kirk Hope said. This indicates a significant resilience gap for households and the wider economy. ’
According to KPMG New Zealand consulting partner Kath Robertson Hodder, financial services are not just support industries, they are a key driver of the New Zealand economy. –Agency
