Year on year Risk Premium Inflows were little changed declining a marginal 0.1%. Among the medium to larger sized companies MetLife (10.8%), AIA (6.4%), Zurich (5.9%) and TAL (2.8%) recorded increases in their Risk business but those of AMP (-9.3%), BT / Westpac (-8.1%) and CommInsure (-7.3%) dropped. Please note that Suncorp’s merger into the TAL Group was completed this quarter.
Year on year overall Risk Sales fell almost a quarter, down 24.5% due in particular to a halving in new Group Risk sales that decreased by 52.3% thereby more than reversing the 73.0% jump recorded in the previous twelve months. Most companies reported lower annual Risk Sales including in particular market leaders TAL (-37.8%) and AIA (-52.3%). Meanwhile those reported by MetLife (186.3%) and Zurich (23.9%) were both higher.
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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