Overview of Life Insurance Risk Market Inflows & Sales: 12 months to December 2016
Overall Risk Inflows continued to climb during the 2016 calendar year but at a much slower rate than the double digit average experienced over the past two decades, up a relatively modest 3.4%. Leading companies that reported increased Risk business were Zurich (63.8%), due to the merger of ex Macquarie business, AIA (12.1%), BT / Westpac (9.1%), National Australia / MLC (4.6%) and OnePath (4.1%) while on the other hand Suncorp (0.7%), AMP (0.3%), TAL (-0.2%) and CommInsure (-0.9%) all saw little change in their Risk Inflows.
Despite total New Premium Sales falling 12.2% year on year, AIA (37.1%), Zurich (16.0%), National Australia / MLC (8.0%) and BT / Westpac (5.8%) still managed to record increases in their annual Risk sales.
The Life Insurance Risk Market is comprised of both Individual Risk Lump Sum & Risk Income Insurances plus Group Risk Insurance.
Source: Strategic Insight (Plan For Life)
Download Media Release (PDF): SI PFL Media Release Risk Insurance 1216