During 2020 Life Insurance Risk Inflows were little changed up just 0.8% to $16.3bn

Risk Inflows in 2020 were similar to those in 2019, up only marginally by 0.8%. While market leader TAL (0.6%) reflected this overall result 2nd placed AIA (11.5%) and to a lesser extent No.3 Risk player Zurich (3.5%) both enjoyed some growth in their Inflows year on year as did much smaller player ClearView (8.2%). BT / Westpac (-21.1%) reported a significant fall in its annual Inflows; Resolution (-4.9%) was also lower while those of the rest were fairly flat.

Total New Premium Sales dropped substantially by 19.5%. While AIA (66.3%) reported a sharp jump in its overall Risk Sales those reported by TAL (-68.9%) and MetLife* (-50.4%) dived and in all three cases most of the action was attributable to Group Risk business. Most of the other Risk participants also saw their Sales fall although ClearView (14.1%) was an exception.

Source: Plan For Life

Download Media Release: PFL_Media_Release_-_Risk_Insurance_Dec20