During 2021 overall Life Insurance Risk Inflows increased from $16.7bn to total $17.6bn

Risk Inflows in 2021 were up by 5.5% on those reported in 2020. Market leaders TAL (7.5%) and AIA (7.3%) both recorded above average Inflow increases. Mid-sized insurers MetLife (11.9%), QInsure (10.1%) and in particular much smaller player NobleOak (60.4%) reported double digit Inflow growth rates while the rest finished either modestly higher or little changed.

Total New Premium Sales rose just 2.2% year on year. While BT / Westpac (24.9%), TAL (24.3%) and Zurich (12.6%) reported double digit percentage increases in their Risk Sales these were offset by falls recorded by AIA (-7.5%), Resolution (-7.9%) and ClearView (-8.7%). Again NobleOak outperformed reporting a six-fold jump in its annual Risk Sales, but off a very low base.

Source: Plan For Life

Download Media Release: PFL Media Release - Risk Insurance Dec21