Inflows to the individual lump sum life insurance market grew to $5.5 billion in 2012, up 10.4% from $5 billion the previous year, according to research house Plan For Life.

All insurers reported an increase in business last year.

TAL recorded the strongest premium growth, up 11.16% on 2011, followed by OnePath on 10.9% and CommInsure at 10.7%.

Income protection premium inflows grew to $2 billion, up 9.64% from $1.8 billion.

TAL again led the way with a 17.59% increase, followed by OnePath, up 14.5%.

The group life market grew 14.88% to $3.9 billion.

Once more TAL was the market leader, with 23.28% premium growth, way ahead of traditional front-runner AIA on 10.94%.

CommInsure also increased its group insurance market share, recording 21.6% premium growth.