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