Changes in superannuation legislation have boosted growth in the life insurance sector, according to the latest quarterly survey of life insurance trends by the Australian Prudential Regulation Authority.

The Life Insurance Trends report for June indicates total life office premiums for the quarter increased by 56.8% to $15.2 billion. Premiums for the year to June 30 rose by 8.6%, to $43.6 billion.

Superannuation business improved by 65.7% for the quarter, to $14 billion, as a result of reforms allowing policyholders to make tax-effective lump-sum contributions before the end of the period.

Premiums for the year to the end of June were up 8.3%, to $38.5 billion.

Superannuation accounted for 92% of all life office premiums for the quarter and 88.3% for the year.