About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, January 19th, 11:09AM
rss
Latest Headlines

AXA insurance sales up 15%

Life insurance, or financial protection, continues to underpin AXA New Zealand's results according to the company's interim report.

Thursday, August 7th 2008, 1:12PM
AXA New Zealand, this week, produced a sound result in a challenging market. Its operating earnings for the six months to June 30 were $27.1 million compared with $30.6 million in the corresponding period last year.

Operating earnings in its risk business were down slightly from $20.4 million to $19.8 million, while the investment business was down 28% to $7.3 million.

AXA New Zealand chief executive Ralph Stewart says the latest market share figures show AXA moved from third to second place for its share of new business written and it still remained third ranked for inforce business.

Market share figures for the second quarter of this year are due out soon.

In the six months to June 30 AXA increased its financial protection sales by 15%.

Stewart says AXA is planning to roll out its next set of improvements and enhancements to its risk products soon.

He says there will be policy alternations to income protection and also some new developments with new business policies.

Stewart says AXA tends to roll out changes each quarter rather than making large one of changes.

The other area of development in the market is commissions. Stewart describes this as one of the levers life companies can use to impact distribution of its products.

The trend at the moment is for life companies to increase remuneration levels, AXA's position is to remain competitive but not to move as quickly as other providers.

Last year AXA introduced its hybrid commission model, where advisers can choose their mix of upfront and trail commission, and it also provides other non-cash remuneration to advisers.

« Tower's Blue Box sent packingISO overhaul urged in five-year review »

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
  • Partners Life criticises Vitality
    “bay broker good points but I get the point about premiums increasing when sick. I have Vitality personally and I have qualified...”
    3 days ago by taka dan
  • Don't hold your breath for life insurance reform
    “That's a good observation from @JPHale there. "2% of sales" has even less meaning when you don't know if it's 2% of premiums...”
    3 days ago by Denis
  • Partners Life criticises Vitality
    “I've added Vitaltiy to a number of clients' new covers. I have also sold AIA cover without it. As with all advice it is...”
    3 days ago by BayBroker
  • Don't hold your breath for life insurance reform
    “Having read both the article and the comments I can only agree with what has been said in the comments. Further, I am...”
    3 days ago by BayBroker
  • David Whyte's 5 predictions for 2020
    “@ number 2: LOL - don't hold your breath. And besides, even if they did do it, if someone needs it they should probably already...”
    4 days ago by All hat no cattle
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