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Millennials inheriting wealth earlier, with 79% saying half or more of their assets are passed down

SYDNEY, 28 October 2025 – Chubb, a world leader in insurance, today released its 2025 Wealth Report in Australia, highlighting a generational shift among High-Net-Worth Individuals (HNWIs). The report finds that a new generation increasingly views wealth as a means to achieve personal freedom, moving beyond the traditional focus on financial security.

Australia’s HNWIs are redefining what it means to be wealthy, with inheritance, lifestyle and legacy increasingly becoming more central to how they manage and protect their assets. Building personal collections is a high priority, with 70% planning to invest in jewellery and gems in the next 12 months. Younger HNWIs are also markedly optimistic about the future in which 70% of Gen Z and 68% of millennials believe there are more opportunities to build wealth today than ever before.

Angela Capponi, Head of Personal Lines, Chubb Australia and New Zealand, said, “This year’s Wealth Report highlights how High-Net-Worth Australians are reshaping perceptions of wealth, which now extend beyond financial assets to include identity, lifestyle and legacy.”

“This shift underscores the need for a more holistic approach to insurance and protection that reflects the complexity of modern wealth – with greater focus needed on safeguarding both the tangible and intangible aspects of wealth.”

The national study of 200 High-Net-Worth Australians further reveals:

• 72% of millennials and 65% of Gen Z aim to retire early, seeing wealth as freedom rather than just security.
• 79% of affluent Australians own a personal collection, with jewellery, fine art and timepieces topping the list.
• 51% say their home represents their family’s emotional foundation.

This changing approach to wealth is also reshaping the nature of risk, with High-Net-Worth Australians now facing both traditional and emerging risks to their lifestyle and legacy, including:

• Risks to home ownership, with three of the top five perceived risks to homes relating to fire and water damage within the home.
• Natural catastrophes, which rank among the top concerns, with 93% of those surveyed saying they are at least moderately concerned about environmental instability.
• Loss of investment value, cited by 91% as a leading risk to wealth and lifestyle, with 58% also worried about the impact of inflation.
• Cyber security, with 60% recognising it as an issue.

Affluent Australians are increasingly turning awareness of risk into tangible action – actively safeguarding their homes, collections and lifestyles. With Australia’s tropical and sub-tropical climate, heightened risk of weather-related damage has seen HNWIs benefit from home appraisals to help protect against potential loss from internal water leaks, floods or storms. Many also expect their insurers to play a proactive role, with 62% seeking preservation advice for their collections and 47% seeking consultation on item valuations, ensuring these assets are preserved for the future.

“High-net-worth individuals today are navigating a new wealth landscape that brings both opportunities and risk. Protecting wealth requires more than foresight — it calls for trusted partners and insurance solutions that understand the complexity of safeguarding valuable assets. At Chubb, we help clients protect what matters most through solutions such as Chubb Masterpiece, our bespoke insurance offering for high-net-worth homes and collections – ensuring their wealth remains meaningful for future generations,” Capponi said.

For more insights from the 2025 Chubb Wealth Report, visit https://www.chubb.com/au-en/individuals-families/campaign/australian-wealth-report-2025.html. To learn more about Chubb’s Masterpiece Homeowners Insurance, visit https://www.chubb.com/au-en/individuals-families/products/masterpiece.html

Methodology

Findings are based on a survey of 200 High-Net-Worth Individuals in Australia, conducted by Beresford Research between 20 November and 5 December 2024. A third of respondents each report having investible assets of between A$10 million and A$25 million, and between A$25 million and A$50 million, with another fifth reporting assets valued over A$50 million. 

About Chubb

Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE:CB) and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide. Additional information can be found at: www.chubb.com.

SOURCE Chubb