{"id":32885,"date":"2016-04-05T19:06:17","date_gmt":"2016-04-05T08:06:17","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=32885"},"modified":"2016-04-06T11:37:10","modified_gmt":"2016-04-06T00:37:10","slug":"risk-product-inflows-continue-to-head-north","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2016\/04\/05\/risk-product-inflows-continue-to-head-north\/","title":{"rendered":"Risk Product Inflows Continue to Head North"},"content":{"rendered":"<p>Inflows into Australia&#8217;s life insurance risk market increased by 6.6% in 2015, although this growth rate is down on the double digit increases the industry has been experiencing in recent years.<\/p>\n<p><!--more-->Released by Plan For Life as\u00a0 part of its Y\/E 2015 Market Overview, the researcher notes all the leading companies experienced increases in their risk business inflows, led by TAL (19.3%), BT\/Westpac (13.4%), MetLife (11.7%), OnePath (10.6%) and AIA Australia (10.5%).<\/p>\n<p>The news is not entirely positive, however, as PFL also records that new premium sales fell by 9% year on year in 2015; a year in which MetLife (25.3%), TAL (14.4%) and OnePath (11.5%) nonetheless managed to record double digit percentage increases in their annual risk sales.<\/p>\n<p>In terms of overall risk premium inflows, which take into account individual risk lump sum and income protection business as well as group risk, TAL led the way in 2015, receiving more than $2.6 billion in inflows, followed by AIA Australia ($2+ billion), AMP Group (1.9+ billion), NAB\/MLC ($1.8+ billion). Rounding out the top five was CommInsure, which received $1.78 billion in risk premium inflows.<\/p>\n<h6>&#8230;group risk inflows experienced the highest annual growth<\/h6>\n<p>Of the three main sectors, group risk inflows experienced the highest annual growth of just under 8%, followed by individual risk income business growth of 6.2%, with individual risk lump sum inflows up by 5.5%.<\/p>\n<p>PFL also reported a 12.3% decline in overall life insurance premium inflows in the 12 months to December 2015. This category analysis includes all life insurance inflows, where data from retirement income products, individual and group superannuation and ordinary (non-super) investments is combined with the &#8216;pure&#8217; risk market data reported above.<\/p>\n<p>The following chart published by Plan for Life depicts the consistent growth in life insurance risk market inflows over the last ten years, from just under $6 billion in 2006 to $15.4 billion in 2015:<\/p>\n<figure id=\"attachment_32893\" aria-describedby=\"caption-attachment-32893\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-32893\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2016\/04\/160405-PFL-Stats.png\" alt=\"This chart depicts the consistent growth in life insurance market inflows over the last ten years, from just under $6 billion in 2006 to $15.4 billion in 2015...\" width=\"860\" height=\"410\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2016\/04\/160405-PFL-Stats.png 2842w, https:\/\/riskinfo.com.au\/news\/files\/2016\/04\/160405-PFL-Stats-300x143.png 300w, https:\/\/riskinfo.com.au\/news\/files\/2016\/04\/160405-PFL-Stats-768x366.png 768w, https:\/\/riskinfo.com.au\/news\/files\/2016\/04\/160405-PFL-Stats-1024x488.png 1024w\" sizes=\"auto, (max-width: 860px) 100vw, 860px\" \/><figcaption id=\"caption-attachment-32893\" class=\"wp-caption-text\">Life insurance risk market inflows 2006 &#8211; 2015, published by Plan For Life&#8230;<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Inflows into Australia&#8217;s life insurance risk market increased by 6.6% in 2015, although this growth rate is down on the double digit increases the industry has been experiencing in recent years.<\/p>\n","protected":false},"author":3,"featured_media":32938,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[4247],"class_list":{"0":"post-32885","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general","8":"tag-feature"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/32885","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=32885"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/32885\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/32938"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=32885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=32885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=32885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}