The life risk sector had a successful 2011, with almost all major insurers achieving double-digit growth over the year.
This is according to data released by Plan For Life, which found total life risk inflows were up more than 11 per cent – from $9.1 billion to $10.2 billion – in the year to September 2011.
AIA recorded the biggest growth in premiums, with sales going up almost 34 per cent.
BT/Westpac, TAL, OnePath and AMP all recorded double-digit percentage growth rates, while Suncorp had a tough year with premium inflows going down 8.7 per cent.
The retail sector is dominated by the AMP Group, which remains the market share leader (16.2 per cent), while AIA leads the group insurance market (24.2 per cent market share).
