Overall Risk Premium Inflows increased by just 1.7% year on year however despite this BT / Westpac (21.8%) and MetLife (13.5%) both still managed to record significant growth rates. AIA (5.5%), Zurich (4.1%), TAL (3.0%), Suncorp (2.1%) and OnePath (1.4%) also reported Risk Inflow increases, albeit much more modest, while CommInsure (-17.9%) and AMP (-5.6%) were both lower.
Annual Sales in the Risk market were similarly up 2.1%. BT / Westpac (63.1%) and AIA (46.4%) reported a couple of very large jumps in their Risk Sales year on year with in particular volatility in the Group Risk market a relatively significant factor in both these results. Sales of the other Risk Insurers were mainly lower although Zurich (3.4%) and CommInsure (1.2%) managed to post modest increases.
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)
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