Jump in disability sales: DEXX&R
Individual disability business increased 13.6 per cent to $408 million in 2011 on the back of a spike in sales in the September quarter, according to DEXX&R research.
The largest growth was seen at OnePath with a 28 per cent increase to $68.5 million, and TAL which recorded a 60.2 per cent increase to $47 million. Disability in-force business increased 9.7 per cent to $1.82 billion.
Individual lump sum risk business increased by 10.5 per cent to $1.11 billion during 2011, led by AMP/AXA which increased 11.5 per cent to $207 million.
CommInsure increased 4.7 per cent to $176 million, OnePath 8.9 per cent to $157 million and TAL 3.8 per cent to $133 million.
Total group risk new business increased 37.1 per cent to $848 million during the year, with in-force group risk business up 9.5 per cent to $3.14 billion.
Market leader AIA Australia's in-force business jumped 40.3 per cent to $850 million, and CommInsure grew 32.5 per cent to $438 million.
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