Overview of Life Insurance Risk Market Inflows & Sales: 12 months to December 2017
Overall Risk Inflows continued to climb in 2017 but like in 2016 now at a much slower pace than the double digit percentage averages experienced over the previous two decades; year on year they were up a fairly modest 2.6% compared to the 3.4% posted in 2016. Leading companies that reported significantly increased Risk business were MetLife (16.4%), AIA (9.5%) and TAL (8.4%) while CommInsure (-10.2%) saw its fall. Meanwhile the Risk Inflows of the rest were mainly only mildly up or down year on year.
Overall New Premium Sales were relatively flat, up just a marginal 0.7%. During 2017 MetLife (126.6%), TAL (65.5%), Zurich (20.0%) and AMP (9.3%) recorded increased sales with the MetLife and Zurich performances off relatively lower bases. On the other hand those of MLC (-26.4%), OnePath (-14.3%), CommInsure (-13.1%) and AIA (-9.5%) were all 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_1217