The major life insurance groups largely protected their market shares last year, according to a report by Dexx&r.

In terms of total inforce annual premiums, AMP led the way with a market share of 15.86%, down from 16.64% in 2011.

TAL lifted its share to 14.23% from 13.51% and CommInsure grew to 14.09% from 13.94%.

MLC slipped to 14% from 15.13%.

In terms of total new annual premiums, CommInsure dominated with a 17.83% share, up from 16.66% in 2011.

TAL was second with 14.8%, rising from 12.74%, while AMP was almost flat, securing a 14.26% share compared with 14.12% in 2011.

In group life, AIA’s inforce annual premiums market share was 26%, down from 27.1%.

TAL grew to 21.69% from 20.35%, while CommInsure rose to 14.7% from 13.96%.

In terms of annual group life premiums, AIA slumped to a 17.45% share from 29.22% in 2011.

TAL grew to 20% from 13.95% and CommInsure rose to 21.51% from 19.1%.   

Overall, the life insurance industry had a good year, with total new annual premiums rising 7% to $2.5 billion.