POWERED BY MOMENTUM MEDIA
Group life stabilises
The Australian group insurance market appears to have re-stabilised following three years of volatility driven by premium repricing.
New data released by specialist life/risk ratings house, Dexx&r has revealed that in-force group business has resumed what appears to be a normal cycle,
It said that after three years of strong growth in premium inflows, largely the result of premium repricing, group risk inflows have now plateaued.
Dexx&r said total In-force Group Risk increased by 1.4 per cent to $6.23 billion over the 12 months to June 2018, up from $6.17 billion at June 2017.
It said that over the 12 months ending June 2018 three of the top five companies in the Group market recorded an increase in in-force group premiums.
AIA Australia’s In-force business increased by 7.7 per cent to $1.8 billion, Metlife increased by 0.1 per cent to $630 million and OnePath increased by 6.4 per cent to $414 million.
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
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
