Individual disability income insurance sales have grown by more than 15% during the 12 months ending March 31, according to Dexx&r.

Sales during the year amounted to $424.5 million of new annual premiums, up 15.5% with AMP, MLC and OnePath winning the most business.

AMP reported sales of $72.26 million, up 143%, while MLC recorded $72.1 million of inflows, down 4.26% during the year. OnePath reported sales of $68.6 million, up 17.5%.

Individual disability inforce annual premiums grew by 9.77% during the year ending March 31 to $1.8 billion.

MLC and AMP dominated the market with markets shares of 20.79% and 20.32% respectively.

Individual life lump sum new annual premiums were up 12.3% to $1.14 billion for the 12 months ending March 31.

AMP again recorded strong sales during the period, up 89% to $209.6 million, followed by CommInsure with new premiums of $183.3 million, up 9.4%.

Total annual inforce individual lump sum premiums grew by 9.72% to $4.8 billion.

AMP continues to dominate the sector with a 19% market share generating $922.5 million of annual inforce premiums.

MLC has a market share of 16.4% with almost $800 million of premiums.

Group life new annual premiums rose by 69.7% during the year to $990 million.

CommInsure recorded 249.8% growth in sales for the year to give the insurer a market share of 21%. This is still behind the market leader AIA Australia with $244 million of new sales giving it a market share of 24.6%.   

AIA also dominated group annual inforce premiums with inflows of $871 million giving the insurer a 26% market share.

TAL has continued its aggressive push in this area with annual premiums of $696.8 million for the year giving it a 21% market share. Total inforce annual premiums were up 14.3% to $3.3 billion for the 12 months ending March 31.