Insurance Advisernet Australia says gross written premium from its local and New Zealand business passed $500 million in the half-year to December 31, up more than 12% on the corresponding period of 2016.

Premium rate rises of 5-7% were among the drivers of its strong performance.

“We are very optimistic – we have had a fantastic first six months of the financial year,” MD Shaun Standfield told insuranceNEWS.com.au.

The long-term prospects are good, he says.

“Pleasingly, a number of our advisers have put on new staff members over the past 12 months and we have also put on 17 new authorised representatives, which are starting to generate income,” Mr Standfield said.

“And, by all reports, there is an excellent pipeline of opportunities in the next six months and beyond.”