Total group life inforce premiums grew 20.8% to $5.2 billion last year, according to the latest data from research house Dexx&r.

AIA and TAL remain the market leaders, with the former recording annual premium of $1.39 billion (up 27.4%) and the latter $1.3 billion (up 24.7%).

While inforce premium showed good growth – a reflection of the regulator’s push to make the group sector more profitable – new annual premium was flat at $1 billion.

TAL reported modest growth in new premium, up 1.6% to $264 million. AIA fared better, with new annual premium up 104.7% to $313.1 million.

In the lump sum sector, total inforce premium was up 7% last year. AMP gained 4.7% to $1.07 billion and MLC recorded a 3.1% rise to $879 million.

Lump sum new annual premium fell 1.2% to $1.3 billion last year. AMP recorded a 2.1% drop to $212 million, but MLC gained 1.7% to $188 million.

Disability inforce annual premium grew 6.5% to $2.2 billion last year. AMP and MLC recorded flat results of $421 million and $388 million respectively.

Disability new annual premium dropped 1.4% to $466 million. AMP was down 4.7% to $78 million, while MLC grew 1.25% to $77.8 million.