Researcher Plan For Life (PFL) has reported a strong surge in risk new business sales in the calendar year 2009, with group insurance being the stand-out.
In the twelve months to December 2009, PFL reports an increase of inflows into the risk market of over 13%, with new premium sales up by almost 20%.
While individual risk lump sum and income protection insurance inflows and sales numbers continue the upward trend, showing no signs of the bubble bursting, it was a huge leap of 29.5% in sales in the group risk market that was the most dramatic increase during 2009.
According to PFL, the main beneficiaries of the surge in group risk new business sales were TOWER Australia, AIA Australia and NAB/MLC, who experienced sales growth of 205%, 137% and 88% respectively.
Top-ranked insurers across market share and growth categories for 2009, where BT/Westpac continues its strong growth trend, were:
Top 5 Companies Total Risk Premium Inflows (Market Share)
- National Australia/MLC Group (data now includes Aviva)
- CommInsure
- ING
- TOWER
- AMP
Top 5 Companies Total Risk Premium Inflows (Growth)
- AIA Australia
- BT/Westpac
- TOWER
- NAB/MLC
- ING
Top 5 Companies Total Risk Premium Sales (Market Share)
- National Australia/MLC Group
- TOWER
- CommInsure
- ING
- AIA
Top 5 Companies Total Risk Premium Sales (Growth)
- TOWER
- AIA Australia
- National Australia/MLC Group
- BT/Westpac
- Hallmark Group
Top 5 Companies Individual Risk Lump Sum Inflows (Market Share)
- National Australia/MLC Group
- CommInsure
- ING
- AMP
- TOWER
Top 5 Companies Individual Risk Lump Sum Inflows (Growth)
- BT/Westpac
- AIA
- TOWER
- ING
- CommInsure
Top 5 Companies Individual Risk Lump Sum Sales (Market Share)
- CommInsure
- National Australia/MLC Group
- ING
- TOWER
- AMP
Top 5 Companies Individual Risk Lump Sum Sales (Growth)
- BT/Westpac
- TOWER
- AMP
- National Australia/MLC Group
- ING
Top 5 Companies Individual Risk Income Protection Inflows (Market Share)
- National Australia/MLC Group
- AXA
- CommInsure
- Suncorp Group
- ING
Top 5 Companies Individual Risk Income Protection Inflows (Growth)
- BT/Westpac
- ING
- AIA
- CommInsure
- National Australia/MLC Group
Top 5 Companies Individual Risk Income Protection Sales (Market Share)
- National Australia/MLC Group
- ING
- CommInsure
- AXA
- AMP
Top 5 Companies Individual Risk Income Protection Sales (Growth)
- BT/Westpac
- ING
- TOWER
- AXA
- National Australia/MLC Group
Top 5 Companies Group Risk Inflows (Market Share)
- AIA Australia
- ING
- TOWER
- CommInsure
- National Australia/MLC Group
Top 5 Companies Group Risk Sales (Market Share)
- AIA Australia
- TOWER
- AMP
- National Australia/MLC Group
- ING
