Inflows into the Lump Sum sub-market grew by 3.1% with most companies reporting at least some increase in business. Among the market leaders, BT / Westpac (8.5%) and TAL (7.4%) experienced the highest percentage increases in their Inflows, while Zurich jumped 65.6% largely due to their acquisition of Macquarie Life.
Risk Income Inflows increased 4.6% over the past year. Among the better performers in percentage terms were AIA (15.0%), TAL (14.0%) and OnePath (5.8%).
Overall Group Risk Premium Inflows were almost unchanged compared to the previous year. Of the larger companies, MetLife (10.3%), MLC (7.6%) and AIA (3.9%) recorded well above-average percentage increases in their annual Group Risk Inflows. It should be noted that part of MetLife’s growth was due to being awarded a significant super fund insurance mandate that was previously held by CommInsure.
Source: Strategic Insight (Plan For Life)
Download Media Release: SI PFL Media Release Risk 0317