In an environment where superannuation and investment funds under management remains stifled, life risk recorded steady growth during 2011, according to new research by DEXX&R.
According to its 'Life Analysis Report', DEXX&R found sales of individual lump sum risk business increased by 12.3 per cent to $1.15 billion over the 12 months to March 2012.
Leading this sector was AMP/AXA, which increased its sales by 10.6 per cent to $210 million. This was followed by CommInsure ($183m), OnePath ($163m) and TAL ($140m).
The report found that total new disability premiums for the year ending 31 March 2012 also grew, increasing by 15.5 per cent to $425 million.
Three of the top five performing companies in disability risk – OnePath (17.5 per cent increase to $69 million), CommInsure (15.9 per cent increase to $54 million) and TAL (59.6 per cent increase to $51 million) – all recorded an increase in new premiums above the market average, DEXX&R stated.
