Risk Market Inflows rose by 3.4% over the year from $17.3bn to $17.9bn

Year on year overall Risk Premium Inflows finished 3.4% higher. Both market leader TAL (6.0%), which has now incorporated Westpac Life, and No. 3 player Zurich (5.8%) reported annual Inflow increases while others remained relatively unchanged. Meanwhile bigger percentage jumps were recorded by medium to smaller players MetLife (20.5%), ClearView (8.6%) and NobleOak (35.2%).

Overall annual Sales in the Risk market fell 8.5% mainly due to reported Group Risk Sales finishing down more than a quarter. Most leading Risk Insurers including TAL (-9.3%), Zurich (-8.6%) and MLC (-7.5%) saw their sales decline while by contrast MetLife (21.1%) was the only company to report a significant jump in its Sales.

Source: Plan For Life

Download Media Release: PFL Media Release - Risk Insurance Sep22