{"id":32035,"date":"2016-01-12T14:00:12","date_gmt":"2016-01-12T04:00:12","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=32035"},"modified":"2016-01-12T18:29:56","modified_gmt":"2016-01-12T08:29:56","slug":"premium-inflows-up-but-sales-drop-sharply-pfl","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2016\/01\/12\/premium-inflows-up-but-sales-drop-sharply-pfl\/","title":{"rendered":"Premium Inflows Up But Sales Drop Sharply – PFL"},"content":{"rendered":"

Risk premium inflows increased just over 7% for the year to the end of September despite overall annual sales in the risk market decreasing by nearly 25% according to Plan For Life.<\/p>\n

Data released by the research group for the year to the end of September 2015 shiws that inflows were up 7.1% from $14.2 billion to $15.2 billion over the 12 months to 30 September 2015 with BT\/Westpac, MetLife and OnePath recording premium inflow increases above 10%. The inflow growth was half of that of the previous year which recorded 14.7% growth.<\/p>\n

However, overall annual sales dropped 23.7% due to very substantial decreases in group risk sales year on year, with the decrease in stark contrast to the previous year\u2019s total sales increase of 23.8%<\/p>\n

…overall annual sales dropped 23.7% due to very substantial decreases in group risk sales year on year…<\/h6>\n

This year\u2019s decrease was particularly marked at MetLife, TAL, AIA and AMP with MetLife recording a sales decrease of 71%, TAL recording a decrease of 60% and AIA recording a decrease of 37.3%. \u00a0This was in contrast to OnePath and National Australia \/ MLC which recorded growth of 17.2% and 13.8% respectively.<\/p>\n

The sharp drop was driven by a downturn in group risk sales which declined by 52.3% compared to individual risk lump sum and individual risk income sales which fell by 1.4% and 3.6%, respectively. The group risk sales decrease follows a massive increase in the previous year in which the sector recorded an increase of 83.1% in sales.<\/p>\n

Plan For Life stated the widespread movements in group risk sales were due to the \u201cinherent cyclical remarketing nature\u201d of the sector which made it a volatile segment of the overall risk market.<\/p>\n

The top-ranked insurers across market share and growth categories in the year to 30 September 2015 were:<\/p>\n

(Note: the numbers in brackets represent the insurers\u2019 position as reported for the period ending 30 June 2015)<\/em><\/p>\n

Top 5 Companies\u00a0Total Risk Premium Inflows<\/strong>\u00a0(Market Share)<\/p>\n

    \n
  1. TAL (1)<\/li>\n
  2. AIA Australia (2)<\/li>\n
  3. AMP (3)<\/li>\n
  4. NAB\/MLC (5)<\/li>\n
  5. CommInsure (4)<\/li>\n<\/ol>\n

    Top 5 Companies\u00a0Total Risk Premium Inflows<\/strong>\u00a0(Growth)<\/p>\n

      \n
    1. BT\/Westpac (2)<\/li>\n
    2. MetLife (3)<\/li>\n
    3. OnePath (4)<\/li>\n
    4. AIA Australia (1)<\/li>\n
    5. NAB\/MLC (-)<\/li>\n<\/ol>\n

      Top 5 Companies\u00a0Total Risk Premium Sales<\/strong>\u00a0(Market Share)<\/p>\n

        \n
      1. NAB\/MLC (1)<\/li>\n
      2. OnePath (4)<\/li>\n
      3. CommInsure (3)<\/li>\n
      4. AMP (5)<\/li>\n
      5. AIA Australia (2)<\/li>\n<\/ol>\n

        Top 5 Companies\u00a0Total Risk Premium Sales<\/strong>\u00a0(Growth)<\/p>\n

          \n
        1. OnePath (4)<\/li>\n
        2. NAB\/MLC (3)<\/li>\n
        3. Zurich (-)<\/li>\n
        4. CommInsure (2)<\/li>\n
        5. BT\/Westpac (-)<\/li>\n<\/ol>\n

          Top 5 Companies\u00a0Individual Risk Lump Sum Inflow<\/strong>s\u00a0(Market Share)<\/p>\n

            \n
          1. AMP (1)<\/li>\n
          2. NAB\/MLC (2)<\/li>\n
          3. OnePath (3)<\/li>\n
          4. CommInsure (4)<\/li>\n
          5. TAL (5)<\/li>\n<\/ol>\n

            Top 5 Companies\u00a0Individual Risk Lump Sum Inflows<\/strong>\u00a0(Growth)<\/p>\n

              \n
            1. Macquarie Life (1)<\/li>\n
            2. AIA Australia (2)<\/li>\n
            3. Zurich (3)<\/li>\n
            4. BT\/Westpac (4)<\/li>\n
            5. OnePath (-)<\/li>\n<\/ol>\n

              Top 5 Companies\u00a0Individual Risk Lump Sum Sales<\/strong>\u00a0(Market Share)<\/p>\n

                \n
              1. OnePath (1)<\/li>\n
              2. AMP (2)<\/li>\n
              3. NAB\/MLC (3)<\/li>\n
              4. TAL (-)<\/li>\n
              5. BT\/Westpac (4)<\/li>\n<\/ol>\n

                Top 5 Companies\u00a0Individual Risk Lump Sum Sales<\/strong>\u00a0(Growth)<\/p>\n

                  \n
                1. Zurich (1)<\/li>\n
                2. OnePath (3)<\/li>\n
                3. TAL (4)<\/li>\n
                4. NAB\/MLC (2)
                  \n(All other companies posted negative growth)<\/li>\n<\/ol>\n

                  Top 5 Companies\u00a0Individual Risk Income Inflows<\/strong>\u00a0(Market Share)<\/p>\n

                    \n
                  1. AMP (1)<\/li>\n
                  2. NAB\/MLC (2)<\/li>\n
                  3. OnePath (3)<\/li>\n
                  4. TAL (4)<\/li>\n
                  5. BT\/Westpac (5)<\/li>\n<\/ol>\n

                    Top 5 Companies\u00a0Individual Risk Income Inflows<\/strong>\u00a0(Growth)<\/p>\n

                      \n
                    1. Macquarie Life (1)<\/li>\n
                    2. BT\/Westpac (2)<\/li>\n
                    3. Zurich (3)<\/li>\n
                    4. TAL (4)<\/li>\n
                    5. AIA Australia (-)<\/li>\n<\/ol>\n

                      Top 5 Companies\u00a0Individual Risk Income Sales<\/strong>\u00a0(Market Share)<\/p>\n

                        \n
                      1. OnePath (1)<\/li>\n
                      2. NAB\/MLC (2)<\/li>\n
                      3. BT\/Westpac (3)<\/li>\n
                      4. TAL (4)<\/li>\n
                      5. AMP (5)<\/li>\n<\/ol>\n

                        Top 5 Companies\u00a0Individual Risk Income Sales<\/strong>\u00a0(Growth)<\/p>\n

                          \n
                        1. Zurich (1)<\/li>\n
                        2. OnePath (2)<\/li>\n
                        3. Macquarie Life (-)<\/li>\n
                        4. TAL (-)<\/li>\n
                        5. AIA Australia (-)<\/li>\n<\/ol>\n

                          Top 5 Companies\u00a0Group Risk Inflows<\/strong>\u00a0(Market Share)<\/p>\n

                            \n
                          1. AIA Australia (1)<\/li>\n
                          2. TAL (2)<\/li>\n
                          3. CommInsure (3)<\/li>\n
                          4. MetLife (4)<\/li>\n
                          5. NAB\/MLC (5)<\/li>\n<\/ol>\n

                            Top 5 Companies\u00a0Group Risk Sales<\/strong>\u00a0(Market Share)<\/p>\n

                              \n
                            1. CommInsure (4)<\/li>\n
                            2. NAB\/MLC (-)<\/li>\n
                            3. AIA Australia (3)<\/li>\n
                            4. OnePath (5)<\/li>\n
                            5. MetLife (-)<\/li>\n<\/ol>\n

                               <\/p>\n","protected":false},"excerpt":{"rendered":"

                              Risk premium inflows increased just over 7% for the year to the end of September despite overall annual sales in the risk market decreasing by nearly 25% according to Plan For Life.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[],"class_list":["post-32035","post","type-post","status-publish","format-standard","category-general","category-products"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/32035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=32035"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/32035\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=32035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=32035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=32035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}