Life Insurance Risk Market Inflows up 6.2% over the year from $14.7bn to $15.6bn

Overview of Life Insurance Risk Market Inflows & Sales: 12 months to March 2016

Risk Premium Inflows increased 6.2%.  Among the medium to larger sized companies TAL (18.2%), AIA (16.4%), BT / Westpac (13.0%), OnePath Australia (9.6%) and Zurich (9.5%) recorded the highest growth.

Year on year overall Sales in this market were however down 5.9% due in particular to a significant 16.7% fall in new Group Risk sales.  Risk market leader TAL (149.2%) reported a very large jump in sales, again the increase was mainly concentrated in Group business.  Otherwise only Zurich (6.3%), off a lower base, and OnePath (6.2%) recorded higher Risk sales year on year.  CommInsure (-42.7%), Suncorp (-24.7%), AMP (-22.9%) and National Australia / MLC (-16.5%) by contrast recorded significant double digit percentage falls.

The Life Insurance Risk Market is comprised of both Individual Risk Lump Sum & Risk Income Insurances plus Group Risk Insurance.

Source: Plan For Life

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