During 2019 Life Insurance Risk Market Inflows fell 4.5% from $16.5bn to $15.7bn

Overall Risk Inflows declined in 2019 breaking what was a decades-long history of increases; year on year they were down by 4.5%. Nevertheless market leader TAL (18.8%) along with smaller players ClearView (8.3%) and MetLife (5.8%) reported higher Risk Inflows but these were more than offset by falls recorded by AIA (-29.0%), AMP (-7.8%), MLC (-4.3%), BT / Westpac (-4.0%) and Zurich (-3.5%).

Total New Premium Sales were similarly down 3.9%. Again TAL (202.1%) experienced a jump its Risk Sales. MLC (7.3%) also reported higher sales however those of all of the other participants in the Risk market were lower including in particular AMP (-77.5%), whose Risk business is now effectively in run-off as it is no longer writing new insurance policies, BT/Westpac (-60.4%) and AIA (-39.2%).

The Life Insurance Risk Market is comprised of both Individual Risk Lump Sum & Risk Income Insurances plus Group Risk Insurance.

Source: Plan For Life

Download Media Release: PFL_Media_Release_Risk_Insurance_1219