Life Insurance Risk Market Inflows fall 3.6% over the year from $16.9bn to $16.3bn

Year on year overall Risk Premium Inflows were 3.6% lower. Among the medium to larger sized companies only market leader TAL (20.5%) reported any real growth in its Risk business with Group Risk responsible for the vast majority of the increase. MetLife (0.1%) Risk Inflows were virtually unchanged but those of the rest were lower in particular AIA (-27.1%) and to a lesser degree AMP (-6.4%).

Annual Risk Sales jumped 22.1% due to overall reported Group Risk Sales more than doubling, up 124.1%. Most companies experienced lower annual Risk Sales including AMP (-23.9%), ClearView (-15.8%), AIA (-12.1%) and BT / Westpac (-7.4%) however TAL (233.9%) reported a massive increase, again all Group Risk related, while MLC (8.4%) also posted a much more moderate rise.

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_320