Reported individual risk lump sum sales in the 12 months to 30 September rose by 1.4% according to data published by Plan for Life.
Lump sum sales increased during the 12-month period by 3.5% overall according to the actuaries and research firm. Leading the sector out of the doldrums was NobleOak, up by 32.5%. Other leaders were:
- AIA (10.4%)
- ClearView (23.2%)
- Zurich (3.4%)
Resolution Life fell by 11.3%, but it wasn’t alone…Also seeing lower sales were market leader TAL (-1.2%) and Acenda (-3.5%).
Income Protection
During the same 12 month period, reported individual risk income inflows rose a modest 0.5%. Seeing little change were:
- TAL (-1.6%)
- Zurich (0.7%)
- Acenda (1.3%)
- AIA (-0.4%)
Meanwhile medium to smaller players NobleOak (21.1%), ClearView (11.3%) and MetLife (28.5%) recorded double digit percentage increases but Resolution Life (-11.4%) continued to wind down its business.
Risk income sales were modestly higher for the period, climbing by 2.9%. While the sales of AIA (12.6%), NobleOak (37.0%), and ClearView (36.6%) were up significantly, those reported by market leader TAL (-9.8%), Acenda (-3.6%) and Resolution Life (-10.5%) were all lower.
