Total Risk Market Inflows up 1.1% over the year from $16.3bn to $16.5bn

Inflows into the Lump Sum sub-market posted improved growth of 2.9% over the past year albeit with mixed company-level results. Among the market leaders, ClearView (5.1%), Zurich (4.7%), MLC (3.3%) and TAL (2.7%) experienced positive percentage increases in their Inflows, while the remainder reported below-average or negative growth.

Similar to the Lump Sum market, Risk Income Inflows experienced increased growth, up 4.1% over the past year. Among the better performers in percentage growth terms were ClearView (17.1%), Zurich (5.6%) and AIA (3.4%).

Overall Group Risk Premium Inflows experienced a 2.1% fall over the past year, with the impact of ‘Putting Member’s Interests First’ legislation during 2020 still being felt. Of the larger companies, AIA (25.2%) 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 Australian Catholic Super moving from OnePath to AIA, 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 the past year.

Source: Plan For Life

Download Media Release: PFL_Media_Release_-_Risk_Mar21