Total Risk Market Inflows almost unchanged over the year, up 0.5% to $16.3bn

Inflows into the Lump Sum sub-market posted slightly improved growth of 0.9% over the past year albeit with mixed company-level results. Among the market leaders, ClearView (4.6%), Zurich (4.4%), TAL (2.4%) and MLC (1.8%) experienced positive percentage increases in their Inflows, while the remainder reported minimal or negative growth.

Similar to the Lump Sum market, Risk Income Inflows experienced increased growth, up 1.7% over the past year. Among the better performers in percentage growth terms were ClearView (15.6%), Zurich (4.8%) and TAL (3.3%).

Overall Group Risk Premium Inflows experienced a 0.6% fall over the past year, with the impact of ‘Protecting Your Super’ and ‘Putting Member’s Interests First’ legislation during 2019 and 2020 respectively still being felt. Of the larger companies, AIA (27.3%) still managed to record significant growth. It should be noted that individual company growth can be significantly impacted by super fund insurance mandate movements, with BT/Asgard Super moving from Westpac to AIA, Qantas Super from MLC to MetLife, Telstra Super from TAL to MLC, EnergySuper from MLC to OnePath and AFLPA from AMP to OnePath all occurring over 2020.

Source: Plan For Life

Download Media Release: PFL_Media_Release_-_Risk_Dec20