 |
|
|
|
 |
Life inflows return to normal
Mike Taylor
Superannuation inflows remain the mainstay of the Australian life insurance industry – something that was particularly evident in the rush which accompanied the Commonwealth’s ‘Better Super’ initiatives in 2007, according to the latest data released by the Australian Prudential Regulation Authority (APRA).
Commenting on the March quarter data, APRA noted that the ‘Better Super’ changes had resulted in a significant flow of funds (both inflows and outflows) between different products offered by the life insurers in the June to December quarter last year.
However, it said that in the March quarter, premium and policy payment flows had returned to a level similar to those prior to the legislative changes.
The APRA analysis said that for the March quarter, life office premiums stood at $9.5 billion, down by 35.9 per cent for the December quarter and down 2.1 per cent on the same period last year.
It said that for the 12 months to March 31, the net result of premium and policy payments was an inflow for life offices of $2 billion, an 11.6 per cent increase over the same period a year earlier.
It said that superannuation business accounted for $8.4 billion in premiums for the quarter, down 1 per cent on the same period last year.
However, the APRA analysis noted that superannuation business in life offices remained strong and, as a percentage of life office premiums relating to Australian policyholders, represented 88.1 per cent for the quarter and 91.1 per cent for the year ended March 31.
17 July 2008
print this article...
Related articles by company
| Related articles by topic | | • Insurers escape worst of crisis (Money Management, 2-Sep-2008) | | • Online solution earns adviser revenue (Money Management, 11-Aug-2008) | | • SME business conditions weaken (Money Management, 1-Aug-2008) | | • Premiums rising unevenly (Money Management, 21-Jul-2008) | | • St Andrew’s launches online platform (Money Management, 17-Jul-2008) |
|
|
|
Home |
Advertising |
Disclaimer |
Contact Us |
About Us |
Feedback |
Privacy Policy
Copyright © Reed Business Information. All material on this site is subject to copyright. All rights reserved.
No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher.
|
|
|
|
