TAL posts solid growth and increases claims payouts
TAL has posted solid growth for the 1 April 2014 to 31 March 2015 financial year and has increased its life and disability claims payouts.
The life insurance specialist's premium income was up 21 per cent to $2234.9 million, claims payments was up 16 per cent to $1030 million, and underlying profit after tax rose 12 per cent to $146.6 million, according to TAL's Japanese parent Dai-ichi Life.
"I see simultaneous rising life insurance payouts as a strong signal life insurance is doing what it should - helping Australians when they need us most," TAL Group chief executive, Brett Clark, said.
Our products and services have been well-received in the market and we are now insuring one in four Australians. We paid out a billion dollars in claim payments last year, with the majority of payouts going to those unable to work or affected by illness in some way."
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