POWERED BY MOMENTUM MEDIA
Group insurers stabilise
Australia’s major group insurers appear to have moved beyond the problems which saw them increasing premiums around four years’ ago.
The latest data released by specialist life/risk research house, Dexx&R said that after three years of strong growth in premium inflows, largely as a result of premium re-pricing, group risk inflows had now plateaued.
It said that total in-force group risk premium actually decreased by two per cent from $6.21 billion at September 2017 to $6.09 billion over the 12 months to September, 2018.
The Dexx&R analysis said that over the 12 months ending September 2018, four of the top five companies in the Group market recorded an increase in-form premiums with AIA Australia leading the way with 3.8 per cent to $1.9 billion, TAL by 0.8 per cent to $1.7 billion, Metlife by 11.8 per cent to $721 million and OnePath by 5.7 per cent to $417 million.
The data confirmed that post recent acquisition activity the group life market would look as follows.
Recommended for you
The insurance company has joined this year’s awards as a principal partner.
The $135 billion fund has transitioned away from TAL Life Insurance following an “extensive tender process”.
The $80 billion fund is facing legal action over allegedly signing up new members to income protection insurance by default without active member consent.
In a Senate submission, the Financial Services Council has once again called for further clarification that the government will assess the consumer outcomes of group insurance against the enshrined objective of superannuation.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
Hi, I think the table at the bottom represents the total life insurance market including individual not just the group insurance market