New market data shows that overall life insurance premium inflows continued to grow strongly, up by a further 12.2% over the past year.
Most of the medium to large companies participating in the life insurance market reported higher inflows with TOWER (40.5%), AIA Australia (18.2%), AMP (15.9%), NAB/MLC (12.7%) and ING Australia (11.1%) recording the best percentage increases. On the other hand two companies to report little change in their overall life insurance (Risk) business year on year were CommInsure (-2.0%) and MetLife Insurance (-0.8%).
In the New Premium Sales area TOWER (96.2%), Zurich (22.6%) and BT/Westpac (11.3%) recorded the highest growth. However overall New Premium Sales were fairly flat year on year, down slightly by 2.9%.
|MLC Life Insurance||1,366.6||12.7%||15.7%|
|CommInsure Life Insurance||1,192.0||-2.0%||13.7%|
|ING Life Insurance||1,091.3||11.1%||12.5%|
|Tower Life Insurance||1,042.4||40.5%||12.0%|
|AIA Life Insurance||774.7||18.2%||8.9%|
|AMP Life Insurance||768.0||15.9%||8.8%|
|AXA Life Insurance||691.0||7.1%||7.9%|
|Asteron Life Insurance||670.7||5.8%||7.7%|
|Westpac Life Insurance||433.8||9.8%||5.0%|
|MetLife Life Insurance||254.2||-0.8%||2.9%|
|Macquarie Life Insurance||--||--||--|
|Aviva Life Insurance||--||--||--|
|Zurich Life Insurance||--||--||--|
"Media Release Life Insurance Industry Results - June 2010, Plan For Life Pty Ltd"
Please remember not to make life insurance decision based on Life Insurance rankings by premium inflows. The biggest is not necessary the best for your particular situation.