AMP/AXA leads life risk market share
New life risk annual premiums increased by 38 per cent during the year ending June 2012, with AMP/AXA, CommInsure and MLC capturing the most market share.
According to the latest DEXX&R Life Analysis Report, CommInsure took 18.36 per cent of the market share of the total life risk segment, with total new annual premiums of $485 million. TAL had a market share of 14.54 per cent, followed by AMP/AXA (12.77 per cent) and AIA Australia (12.12 per cent).
AMP/AXA has the most in-force premiums in the total risk segment, with its $1.7 billion representing 16.1 per cent of the market share.
MLC and CommInsure are in second and third place in the segment, with 14.58 per cent and 14.4 per cent of the market share, respectively.
AMP/AXA also leads individual lump sum business and disability business, with 18.66 per cent and 20.79 per cent of the market share in both segments, respectively.
AMP/AXA also had the highest market share in both segments when it came to new annual premiums.
AIA Australia holds the highest market share in the group risk business category, with $892 million in in-force premiums (26.14 per cent of the market share). TAL and CommInsure take up the next two places.
AIA also had the most new business in the group business space in 2011-12, with $254 million in premiums (24.42 per cent of the market share).
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