Overview of Life Insurance Risk Market Inflows & Sales: 12 months to June 2016
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 grow, albeit at a more modest pace than in past years, up a further 5.6%. Most of the main Risk market participants recorded higher Inflows with TAL (19.1%), AIA (14.8%), BT / Westpac (11.0%), OnePath (7.7%) and Zurich (7.3%) reporting the largest percentage increases meanwhile AMP (0.5%), CommInsure (0.0%) and MetLife (-0.7%) experienced little change in theirs.
However New Premium Sales actually fell 5.9% year on year. While market leader TAL (146.0%) experienced a more than doubling in its sales those of a number of other major Risk companies were substantially lower including AIA (-11.7%), National Australia / MLC (-12.2%), AMP (-20.4%) and CommInsure (-38.7%).
Source: Strategic Insight (Plan For Life)
Download Media Release (PDF): PFL SI Media Release Risk Insurance 616