POWERED BY MOMENTUM MEDIA
Group life continues growth
The group life insurance market is continuing to exhibit steady growth, according to the latest data released by Dexx&r.
The data revealed that total "in-force group risk" business increased by 12 per cent to $6.1 billion over the twelve months to June 2016, up from $5.5 billion at June 2015.
The company said that over the year ending June 2016 four of the top five companies TAL, AIA Australia, CommInsure and MLC recorded an increase in in-force group premiums.
It said that total in-force business (individual and group) written by direct life companies increased by eight per cent to $15.1 billion over the year to June 2016, up from $14.0 billion at June 2015, while reinsurer in-force premium increased by 12 per cent to $4.7 billion over the twelve months to June 2016.
Recommended for you
The $135 billion fund has transitioned away from TAL Life Insurance following an “extensive tender process”.
The $80 billion fund is facing legal action over allegedly signing up new members to income protection insurance by default without active member consent.
In a Senate submission, the Financial Services Council has once again called for further clarification that the government will assess the consumer outcomes of group insurance against the enshrined objective of superannuation.
TAL has launched a digital solution TAL Connect for its superannuation fund partners that links super and insurance for members, with Aware Super as its launch partner.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
62.62 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
33.20 3 y p.a(%)
4
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.95 3 y p.a(%)
5
CFS FC Acadian Global Equity Long Short
32.82 3 y p.a(%)
Add new comment