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Health Insurance in New Zealand Industry Data and Analysis
Health insurance revenue is expected to grow at an annualised 10.1% over the five years through 2025-26 to $3.3 billion. Revenue growth has been largely premium price-driven, with insurers elevating their coverage cost offerings to meet rising healthcare expenditure expectations. Health insurance companies have reported an increasing volume of claims paid as the population aged 50 and over has risen. This expanding demand for coverage has been coupled with inflationary pressures on the healthcare services themselves, highlighting how equipment, availability and labour shortages are putting pressure on the sector. Recent inflationary trends have allowed insurers to lift their premiums to maintain viability. This trend has supported profitability, as the industry's predominantly not-for-profit business model previously kept margins slim. A decent percentage of New Zealanders view health insurance as a necessary cost, giving insurers more power to raise costs without experiencing significant membership churn. Health consciousness among the population has also intensified, supporting health insurance coverage. A rise in employer-subsidised memberships has contributed to increasing coverage rates.
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What's included in this industry analysis
IBISWorld's research coverage on the Health Insurance industry in New Zealand includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released July 2025.
About this industry
What's this industry report about?
The Health Insurance industry in New Zealand operates under the ANZSIC industry code K6321NZ. Industry operators predominantly provide health insurance. Firms in the industry underwrite policies covering hospital, medical, dental, pharmaceutical and funeral expenses. Related terms covered in the Health Insurance industry in New Zealand include elective surgery, premiums and loss ratio.
What's included in this industry?
Products and services covered in Health Insurance industry in New Zealand include Elective surgery cover, Comprehensive cover and Minor medical cover.
What companies are included in this industry?
Companies covered in the Health Insurance industry in New Zealand include Southern Cross Health Society, NIB Holdings and Union Medical Benefits Society Limited.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Health Insurance industry in New Zealand.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Health Insurance industry in New Zealand.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Health Insurance industry in New Zealand.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Health Insurance industry in New Zealand. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Health Insurance industry in New Zealand. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Health Insurance industry in New Zealand. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Health Insurance industry in New Zealand. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Health Insurance industry in New Zealand.
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Frequently Asked Questions
What is the market size of the Health Insurance industry in New Zealand in 2026?
The market size of the Health Insurance industry in New Zealand is $3.3bn in 2026.
How many businesses are there in the Health Insurance industry in New Zealand in 2025?
There are 24 businesses in the Health Insurance industry in New Zealand, which has grown at a CAGR of 5.9 % between 2020 and 2025.
How may import tariffs affect the Health Insurance industry in New Zealand?
The Health Insurance industry in New Zealand is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Health Insurance industry in New Zealand?
The Health Insurance industry in New Zealand is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Health Insurance industry in New Zealand grown or declined over the past 5 years?
The market size of the Health Insurance industry in New Zealand has been growing at a CAGR of 10.1 % between 2020 and 2025.
What is the forecast growth of the Health Insurance industry in New Zealand over the next 5 years?
Over the next five years, the Health Insurance industry in New Zealand is expected to grow.
What are the biggest companies in the Health Insurance industry in New Zealand?
The biggest companies operating in the Health Insurance industry in New Zealand are Southern Cross Health Society, NIB Holdings and Union Medical Benefits Society Limited
What does the Health Insurance industry in New Zealand include?
Elective surgery cover and Comprehensive cover are part of the Health Insurance industry in New Zealand.
Which companies have the highest market share in the Health Insurance industry in New Zealand?
The company holding the most market share in the Health Insurance industry in New Zealand is Southern Cross Health Society.
How competitive is the Health Insurance industry in New Zealand?
The level of competition is moderate and increasing in the Health Insurance industry in New Zealand.
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