Life insurance sales growth shows no signs of slowing, according to the latest Plan For Life (PFL) data.
With very strong sales reported by PFL in the 12 months to June 2009, the life insurance industry is experiencing a prolonged period of record growth.
According to PFL, new premium sales increased by 21.6% in the year to June 2009 (up from 7.7% growth in the previous year) with AIA, TOWER, ING and BT/Westpac leading the way.
Overall premium inflows were also up on the year, by 16.1%, compared to 12.5% growth in the year to June 2008.
… the star performer for the year was the Group Insurance market
While individual retail product sales and inforce business remain buoyant, the star performer for the year was the Group Insurance market, which experienced new sales growth of 37.8% (following a fall of 4.1% in the previous year), and a 22.4% increase in total inflows (up from 16.1% growth in the year to June 2008) .
Top 5 Companies - Total Risk Premium Inflows
- CommInsure
- ING
- National Australia/MLC Group
- TOWER
- AMP
Top 5 Companies Total Risk Premium Sales
- CommInsure
- AIA Australia
- ING
- AMP
- National Australia/MLC Group
Top 5 Companies Individual Risk Lump Sum Inflows
- CommInsure
- ING
- National Australia/MLC Group
- AMP
- TOWER
Top 5 Companies Individual Risk Lump Sum Sales
- CommInsure
- ING
- National Australia/MLC Group
- TOWER
- AMP
Top 5 Companies Individual Risk Income Protection Inflows
- National Australia/MLC Group
- AXA
- CommInsure
- Suncorp Group
- ING
Top 5 Companies Individual Risk Income Protection Sales
- National Australia/MLC Group
- CommInsure
- ING
- AMP
- TOWER
Top 5 Companies Group Risk Inflows
- AIA Australia
- CommInsure
- ING
- MetLife
- TOWER
Top 5 Companies Group Risk Sales
- AIA Australia
- AMP
- CommInsure
- ING
- TOWER
