Overview of Life Insurance Risk Market Inflows & Sales: 12 months to March 2017
Annual Risk Premium Inflows increased slightly by 2.1%. Among the medium to larger sized companies Zurich (60.5%), due to the amalgamation of the old Macquarie Risk business, MetLife (9.3%), BT / Westpac (7.4%), AIA (6.4%) and MLC (3.7%) all recorded some increase in their Risk business while AMP (0.0%) and OnePath (0.8%) both posted flat results and CommInsure (-5.2%) was down.
Year on year overall Risk Sales were however down 12.2% due in particular to a significant fall in new Group Risk sales that dropped by almost a third or 32.5%. Risk market leaders TAL (-54.1%), AIA (-31.1%) both recorded very large falls in sales while those reported by MetLife (165.5%) soared, again in all cases most or all of the action was concentrated in their Group Risk business. Meanwhile among the other insurers Zurich (20.2%), MLC (13.0%), CommInsure (6.0%) and BT / Westpac (5.4%) recorded higher Risk sales year on year while those of OnePath (-14.5%) and AMP (-9.3%) were both lower.
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 317