The latest market statistics released by Plan for Life today show that TAL has become Australia’s largest life insurance company. At the end of December 2013 the TAL Group had $1.877 Billion of Premiums in Force, more than any other life insurance company in Australia.
In reaching the number one spot TAL has surpassed AMP who have been the market leader in size since the merger of AMP and AXA in 2011. Strong growth has been the key to TAL’s success. In 2013 TAL experienced annual growth of 21.2% compared to the overall market growth of 11.5%.
Also experiencing strong growth in 2013 were insurers AIA and BT with growth rates of 17% and 19% respectively, placing them 5th and 7th in terms of ranking by size. To see the latest rankings and premiums in force go to our comparison of Life Insurance Companies.