{"id":37661,"date":"2017-07-10T14:50:48","date_gmt":"2017-07-10T04:50:48","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=37661"},"modified":"2017-07-12T07:07:12","modified_gmt":"2017-07-11T21:07:12","slug":"inflows-remain-steady-but-sales-flatten","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2017\/07\/10\/inflows-remain-steady-but-sales-flatten\/","title":{"rendered":"Inflows Remain Steady But Sales Flatten"},"content":{"rendered":"

Overall life insurance risk premium inflows have continued to grow modestly at just over 2% for the year to the end of March but overall risk sales have declined after a heavy fall in group risk business, according to according to data released by Strategic Insight.<\/p>\n

In its quarterly update of premium inflows and sales, Strategic Insight reported that total Annual Risk Premium Inflows increased slightly by 2.1% to $15.9 billion led by Zurich which posted inflow growth of 60.5% due to the ongoing amalgamation of old Macquarie Life business.<\/p>\n

MetLife (9.3%), BT \/ Westpac (7.4%), AIA (6.4%) and MLC (3.7%) all recorded increases in total premium inflows while AMP (0.0%) and OnePath (0.8%) both posted flat results while CommInsure (-5.2%) was down.<\/p>\n

In its market overview of inflows and sales for the 12 months to the end of March 2017 Strategic Insight also reported that Total Risk Premium Sales fell 12.2% over the calendar year due to the decline in new group risk sales of 32.5%.<\/p>\n

Insurers most impacted by this included TAL and AIA which recorded falls of 54.1% and 31.1% respectively as MetLife recorded an increase of 165.5%<\/p>\n

In the Individual Risk Lump Sum market premium inflows grew at 3.1% led by Zurich (65.6%), ClearView (22%) and AIA Australia (14.1%) while OnePath and CommInsure recorded falls of -2.3% and -3.7%, respectively.<\/p>\n

Individual Risk Lump Sum sales fell by 3.9% year on year but Zurich, ClearView, BT\/Westpac moved in the other direction with 17.1%, 16% and 5.6% growth respectively. At the opposite end, Suncorp (-18.3%) and OnePath (-11.8%) reported decreases in their annual sales.<\/p>\n

Individual Risk Income Market inflows were up 4.6% over the past year while overall Individual Risk Income Sales increased only 0.7% over the last twelve months. \u00a0Zurich (97.1%), ClearView (56.1%), AIA (15%) all led the market for inflows as well as for sales with recording an increase of 28.9%, 33% and 18.2%, respectively.<\/p>\n

Group Risk Inflows were static overall despite increases for AIA (3.9%), MetLife (10.3%), MLC Life (7.6%) and BT \/ Westpac (6.0%) which all came off a low base and were offset by a decline for TAL (-5.6%).<\/p>\n

This decline in flows was echoed in sales with fell by 32.5% bringing the total fall in Group Risk sales over the past two years to 43.8%.\u00a0 While MetLife (205.5%), MLC (53.4%) and CommInsure (26.6%) recorded significant increases in their sales these were offset by larger falls for TAL (-98.2%), AIA (-53.7%), OnePath (-38.0%) and AMP (-23.0%).<\/p>\n

Strategic Insight stated the volatility in this part of the market was driven by trends in the stand-alone Corporate Superannuation market as well as Master Funds and Other Investment Platforms extending their services by providing risk insurance services.\"inflows\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Overall life insurance risk premium inflows have continued to grow modestly at just over 2% for the year to the end of March but overall risk sales have declined after a heavy fall in group risk business, according to according to data released by Strategic Insight.<\/p>\n","protected":false},"author":3,"featured_media":37686,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4247],"class_list":["post-37661","post","type-post","status-publish","format-standard","has-post-thumbnail","category-products","tag-feature"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/37661","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=37661"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/37661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/37686"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=37661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=37661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=37661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}