Overview of Life Insurance Risk Market Inflows & Sales: 12 months to September 2015
Risk Premium Inflows increased 7.1% year on year. BT / Westpac (13.5%), MetLife (12.1%), OnePath (11.7%) and AIA (9.0%) recorded the highest percentage growth rates.
Overall annual Sales in the Risk market dropped 23.7%. While OnePath (17.2%) and National Australia / MLC (13.8%) both reported increases these were more than offset by falls recorded by some other Risk market participants with MetLife (-71.0%), TAL (-60.0%), AIA (-37.3%) and AMP (-22.7%) all reporting very substantial decreases in their Risk Sales year on year; it is worth noting that these falls were primarily concentrated in the Group Risk market.
The Life Insurance Risk Market is comprised of both Individual Risk Lump Sum & Risk Income Insurances plus Group Risk Insurance.