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Financial system in Australia
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===Insurance market=== {{main|Insurance in Australia}} Australia's [[insurance]] market can be divided into roughly three components: [[life insurance]], [[general insurance]] and [[health insurance]]. These markets have been fairly distinct, with most larger insurers focusing on only one type. However, in recent times several insurance companies have broadened their scope into more general financial services, and have faced competition from [[Banking of Australia|banks]] and subsidiaries of foreign financial conglomerates.
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