Overall Risk Inflows continued to climb in 2018 but like the previous couple of years now at a much slower pace than the double digit percentage averages experienced over the past two decades. Year on year they were up only a very modest 2.0% which compares with the 0.9% and 3.4% posted for 2017 and 2016 respectively. Leading companies that reported significantly increased Risk business were AIA (17.4%), MetLife (12.1%) and BT / Westpac (10.4%) while CommInsure (-19.3%) and AMP (-7.7%) saw theirs fall.
Total New Premium Sales were similarly up 2.3%. BT / Westpac (62.0%), AIA (35.9%), Zurich (22.7%) and MetLife (21.1%) all recorded 20% plus jumps in their reported Risk sales. On the other hand those of TAL (-37.0%) and AMP (-10.8%) were both lower.
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)
Download Media Release (PDF): SI_PFL_Media_Release_Risk_Insurance_1218