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Plan For Life revises premium inflows report

Total life premium inflows grew by 10.5% in the year to last September, according to revised figures from research house Plan For Life.

The update follows changes to the way Macquarie reports and a downward revision of Suncorp Group’s business across several markets.

Macquarie’s inflows are not detailed in the report, being included among the “smaller insurers”.

Suncorp’s inflows were $709 million for the year, bringing annual growth of 5.9% and a market share of 5.7%.

Market leaders BT and TAL recorded growth of 18.5% and 15.7% respectively.

The other strong performer was AIA, with growth of 20.1%. AMP inflows grew just 4.7%, while MLC was up 5.8%.