Reported individual risk lump sum sales were down overall by 1.2% in the 12 months to December 2024, when compared to the same corresponding period to December 2023, according to figures published by Plan for Life.
The actuaries and research firm’s latest Market Overview also states that year-on-year overall risk income (IP) inflows dropped by 2.9%, from $3.38bn in 2023 to 3.28bn last year.
Total risk sales (including lump sum, individual, and group) rose by 8.6% overall. However, the figure masks a drops of 1.2% for lump sum, and 12.9% for risk income.
Overall life insurance inflows last year were 4.1% lower than those recorded in the 2023 calendar year.
