Life Insurance Premium Inflows for Year Ended March 2010

More and more Australians understand importance of life insurance in their life. Life Insurance Market in Australia maintains solid and relatively stable upward growth experiencing a further 10.8% increase in annual inflows.

The best life insurance (Risk) business growth rates year on year were achieved by TOWER (33.2%), National Australia / MLC (13.4%), AMP (12.2%), ING Life (11.0%), BT / Westpac (11.0%) and AIA (10.8%).

Total Premium Inflows for year ended March 2010:

$millions Year Ended
Mar-10
Annual
Growth
Market
Share
MLC Life Insurance 1,333.8 13.4% 15.8%
CommInsure Life Insurance 1,163.6 -0.9% 13.8%
ING Life Insurance 1,069.4 11.0% 12.7%
Tower Life Insurance 946.3 33.2% 11.2%
AMP Life Insurance 766.5 12.2% 9.1%
AIA Life Insurance 728.8 10.8% 8.6%
AXA Life Insurance 682.9 6.3% 8.1%
Asteron Life Insurance 661.1 5.7% 7.8%
Westpac Life Insurance 424.2 11.0% 5.0%
MetLife Life Insurance 251.4 -1.0% 3.0%
Others: 399.8 18.9% 4.7%
Macquarie Life Insurance
Aviva Life Insurance
Zurich Life Insurance
TOTAL: 8,427.8 10.8% 100.0%

"Media Release Life Insurance Industry Results - March 2010, Plan For Life Pty Ltd"

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Published on September 9-nd, 2010 in Life Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

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