Total Risk Market Inflows almost unchanged over the year, down 0.4% to $16.1bn

Inflows into the Lump Sum sub-market grew 0.3% over the past year with mixed company-level results. Among the market leaders, ClearView (4.6%), Zurich (3.3%), TAL (2.1%) and MLC (1.3%) 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 marginal growth, up 0.4% over the past year. Among the better performers in percentage growth terms were ClearView (14.7%), Zurich (2.6%) and TAL (2.6%).

Overall Group Risk Premium Inflows experienced a 1.6% fall over the past year, with both ‘Protecting Your Super’ and ‘Putting Member’s Interests First’ legislation which came into effect during July 2019 and April 2020 respectively still impacting growth rates. Of the larger companies, TAL (30.9%) still managed to record significant growth. It should be noted that individual company growth can be significantly impacted by super fund insurance mandate movements, including REST Super moving from AIA to TAL late-2019 and BT/Asgard Super mandates moving from Westpac to AIA during the latest quarter.

Source: Plan For Life

Download Media Release: PFL_Media_Release_Risk_0920