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Strong 2012 growth in group risk premiums
Overall group risk premium inflows were up 14.9 per cent for the 12 months to the end of December 2012, according to Plan for Life Actuaries and Researchers.
TAL experienced above-average annual growth of 23.3 per cent, increasing market share from 18.71 per cent to 20.7 per cent.
CommInsure also had an above-average annual growth rate of 21.67 per cent to grow market share from 12.85 per cent at the end of 2011 to 13.61 per cent.
However OnePath and AMP reported below-average rates of 7.5 per cent and 2.2 per cent respectively, with both experiencing a slight downturn in market share to just below 10 per cent.
Total risk market inflows were up 11.7 per cent over the 12 months to December 2012, from $10.3 billion to $11.5 billion.
All businesses reported increases in business, with TAL, OnePath and CommInsure finding the best results. OnePath was spurred on by growth in individual risk income premium inflows.
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