Total inforce annual life insurance premiums rose by 10.1% to $8.71 billion for the year ending September 30, according to research house Dexx&R.

This compared to $7.9 billion premium inflows for the 12 months ending September 2009.

Group life insurance and disability premiums both reported strong growth, up 11.76% and 10.78% respectively.

Total new annual premiums for the year ending September 30 were up 1.79% to $1.99 billion with disability products reporting growth of 3.17%.

Market leader in the total life business based on inforce annual premiums was the merged MLC/Aviva with a 16.15% market share and inflows of $1.4 billion.

CommInsure recorded a rise in inforce annual premiums to $1.14 billion for the year ending September, down 7% on the corresponding 12 months, and its market share is now 13.14%, down from 15.56%.

Tower recorded the strongest growth in new annual premiums, up 112.58% to $450.9 million for the 12 months ending September giving it a market share of 22.63% of new business.

MLC/Aviva came in second in new premium inflows with $339.75 million giving them a market share of 17%.

In group insurance inforce annual premiums, AIA remains market leader, with a 15% increase to $586.9 million for the September year-end.

Again Tower was a strong performer in inforce annual premiums with growth of 101.3% generating revenues of $507.95 million for the year.

The insurer also topped new annual premiums for group insurance with inflows of $291.4 million, a 392.5% increase.

AIA saw a 71% fall in new premium inflows to $82.39 million while MLC/Aviva recorded a 10.32% increase to $80.81 million.