About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, January 18th, 2:22PM
rss
Latest Headlines

AXA reports strong group risk sales

AXA New Zealand says sales of insurance products were are up 22% to $5.6m in the three months to March 31. Its total insurance premiums from New Zealand policy holders to $173.4 million.

Thursday, April 24th 2008, 7:41AM
AXA chief executive Ralph Stewart says that individual sales were "just ahead of plan" for the quarter, and that it had a strong result with group sales.

Individual sales were up 11% from $3.7 million in the corresponding period last year to $4.1 million in this quarter. Group sales rose 67% from %900,000 t0 $1.5 million.

While group sales often have a long gestation period, of up to 12 months, three or four significant sales were completed in the quarter.

Stewart says that Kiwi Saver has been useful in helping it and advisers, "engage and refresh" their relationships with employers.

In the individual products market the company has found it continues to be competitive.

Stewart says with difficulties in the investment markets, some advisers have switched from working in the wealth management space to the risk market.

He says some advisers have the skills to do both.

However, he notes that it's note necessarily that simple to switch from one financial product (wealth management, risk, or mortgages) to another.

To successfully sell risk advisers need knowledge and experience and that is not something which "you get overnight".

Stewart says during the quarter AXA had some incentive programmes wind up, which helped individual sales and that it had updated some of its income protection definitions.

« Opinion: Asteron on the true nature of insuranceAdviser amendments to rebuild investor confidence, Dalziel says »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Southern Cross launches advisory group
Southern Cross Health Society has announced the establishment of a Māori governance advisory group in a first for New Zealand’s health insurance sector.

HealthLink and Konnect NET to merge
Healthcare technology companies HealthLink and Konnect NET are merging.

Fidelity scores top award for third consecutive year
Fidelity Life has been named 2019 Life Insurance Company of the Year by ANZIIF for the third consecutive year.

Suncorp invests in wellbeing
Suncorp New Zealand has now invested a total of $20 million into wellbeing bonds as part of its focus on identifying sustainable investment opportunities that can deliver positive community outcomes.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com