Life Insurance Risk Market Inflows increase by 1.8% in 2017/18 to $16.4bn

Growth in Risk Inflows continued to slow with them only rising by a very modest 1.8% over the past year. While BT / Westpac (20.4%), AIA (8.4%) and, to lesser degrees, Zurich (3.4%), TAL (2.8%), OnePath (1.7%) and Suncorp (1.4%) all managed to report increases in their annual Risk Inflows those of CommInsure (-17.2%) and AMP (-3.3%) were lower.

Total reported Premium Sales were up 5.5% but this was solely due to a 32.6% jump in Group Risk Sales as this business continues to be recycled among the main players via ongoing remarketing exercises; actual Group Risk market Inflows rose only 1.0% year on year. While market leaders AIA (125.8%) and BT / Westpac (66.9%) along with Zurich (11.1%) and AMP (7.4%) reported increases in their Risk sales those of other Risk companies including MetLife (-52.6%), TAL (-34.5%), MLC (-23.4%) and OnePath (-15.2%) were 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_618