Inflows into the Lump Sum sub-market grew by 2.9% with mixed company-level results. Among the market leaders, TAL (7.4%) and BT / Westpac (7.3%) experienced the highest percentage increases in their Inflows, while Zurich jumped 64.2% largely due to their acquisition of Macquarie Life.
Risk Income Inflows increased 3.8% over the past year. Among the better performers in percentage terms were TAL (13.2%), AIA (11.9%) and OnePath (4.0%).
Overall Group Risk Premium Inflows were almost unchanged compared to the previous year, up only 1.1%. Of the larger companies, MetLife (16.7%), MLC (8.4%) and TAL (5.1%) recorded well above-average percentage increases in their annual Group Risk Inflows. It should be noted that part of both MetLife and TAL’s growth rates were due to being awarded significant super fund insurance mandates during the year.
Source: Strategic Insight (Plan For Life)
Download Media Release: SI_PFL_Media_Release_Risk_0617