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Life Insurance Premium Inflows for Year Ended September 2010
About Life Insurance
Mar 28, 2011
New market data shows that overall life insurance premium inflows continued to demonstrate very healthy growth up by yet another 13.4% year on year basis and reached almost $9.2bn.
Once again TOWER has continued its aggressive growth with total life insurance premium inflows for the year ending September up 40.7% to $1.1 billion.
Other life insurance companies that achieved significant positive growth were AMP (20.3%), AIA (18.2%), OnePath (12.0%), National Australia / MLC (11.4%) and BT / Westpac (10.2%).
CommInsure continues to suffer falling premium inflows, with a 7% drop for the 12 months ending September to $1.14 billion.
Below data includes life insurance, income protection insurance, total & permanent disablement and trauma cover premiums.
Total Premium Inflows for year ended September 2010:
| $millions | Year Ended Jun-10 |
Annual Growth |
Market Share |
|
 |
MLC Life Insurance .................... | 1,406.9 | 11.4% | 15.3% |
 |
CommInsure Life Insurance ........ | 1,144.5 | -7.0% | 12.5% |
 |
OnePath Life Insurance ................ | 1,131.3 | 12.0% | 12.3% |
 |
Tower Life Insurance .................. | 1,103.1 | 40.7% | 12.0% |
 |
AIA Life Insurance ..................... | 806.6 | 18.2% | 8.8% |
 |
AMP Life Insurance .................... | 805.2 | 20.3% | 8.8% |
 |
AXA Life Insurance ..................... | 697.7 | 5.2% | 7.6% |
 |
Asteron Life Insurance ................ | 677.3 | 5.4% | 7.4% |
 |
BT / Westpac Life Insurance ........... | 450.1 | 10.2% | 4.9% |
 |
MetLife Life Insurance ................ | 255.8 | -0.1% | 2.8% |
| Others: | ...................................................... | 712.3 | 43.6% | 7.8% |
 |
Macquarie Life Insurance | |||
 |
Aviva Life Insurance | |||
 |
Zurich Life Insurance | |||
| TOTAL | ...................................................... | 9,190.8 | 13.4% | 100.0% |
"Media Release Life Insurance Industry Results - September 2010, Plan For Life Pty Ltd"
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