Life Insurance Risk Market Inflows up 2.3% over past year from $15.9bn to $16.3bn

Annual Risk Premium Inflows rose by a relatively modest 2.3%.  Among the medium to larger sized companies BT / Westpac (21.0%), TAL (8.0%) and AIA (7.2%) recorded significant increases in their Risk business while that of CommInsure (-22.4%) dropped.

Year on year overall Risk Sales were up 14.6% due in particular to a significant jump in new Group Risk sales that increased by 73.0%.  Risk market leaders AIA (113.7%), BT / Westpac (77.0%) and TAL (62.3%) all recorded some very large increases in their sales.  Meanwhile those reported by Zurich (15.3%), AMP (11.2%) and Clearview (8.1%) were also higher but MLC (-26.8%), OnePath (-15.2%) and CommInsure (-14.1%) 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 318