Partners growing while other insurers deal with issues

Sean Kam

Partners Life is maintaining a profitable growth trajectory into the new decade, with the six months to September 30 marking an increase in both total comprehensive income and underlying insurance profit compared to the corresponding period the previous year. Underlying profit has improved due to reduced experience variances and profitable growth of the in-force book.

Partners Life chief financial officer Sean Kam says new business is up 7% and in-force premiums are up 15%. He says the market presents a significant growth opportunity currently. "Our strategic focus is on positive customer outcomes and supporting the independent advice channel."

"As the business is free from the market distractions associated with merger and acquisition integration, remediation of legacy issues and downturn in bancassurance volumes, we remain focused on sustainable and profitable growth.”

During the period Partners Life has continued development and delivery of its innovative suite of electronic tools. The recent releases of its customer education and adviser sales tool, EVINCE, and its electronic application and underwriting tool, MUM, have been received extremely well by advisers, he says.