Overview of Life Insurance Risk Market Inflows & Sales: 12 months to June 2015
The Life Insurance Risk Market is comprised of both Individual Risk Lump Sum & Risk Income Insurances plus Group Risk Insurance.
Overall Risk Inflows continued to experience solid growth, up by a further 10.0%. All the main Risk market participants recorded higher Inflows with AIA (19.3%), BT / Westpac (14.3%), MetLife (13.1%) and OnePath (10.4%) reporting the largest percentage increases.
However New Premium Sales actually fell 4.8% year on year. AIA (48.5%), CommInsure (19.2%), National Australia / MLC (15.5%) and OnePath (12.9%) experienced the highest growth while by contrast MetLife (-67.5%) and TAL (-63.2%) reported substantially lower sales compared to 2013/14; in both case the falls were all concentrated in the Group Risk market.