{"id":53385,"date":"2020-11-30T21:54:42","date_gmt":"2020-11-30T11:54:42","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=53385"},"modified":"2025-09-02T11:33:52","modified_gmt":"2025-09-02T01:33:52","slug":"performance-of-risk-products-deteriorates","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2020\/11\/30\/performance-of-risk-products-deteriorates\/","title":{"rendered":"Performance of Risk Products Deteriorates"},"content":{"rendered":"

Risk products reported a combined after-tax loss of $1.5 billion for the 12 months to September 2020 although individual lump sum continued to provide a slight glimmer of silver-lining for the industry.<\/p>\n

APRA\u2019s<\/a> Quarterly Life Insurance Performance Statistics<\/em> publication for the September 2020 quarter shows this combined loss compared with a $418 million loss in the September 2019 year.<\/p>\n

APRA says that the performance of all risk products deteriorated apart from the individual lump sum product.<\/p>\n

The report shows it made a a $354.8 million profit for the year to September 2020, however this compared with a $866 million profit for the September 2019 year (also see the June quarterly report: Performance of Risk Products Deteriorates<\/a>).<\/p>\n

A statement from APRA says in particular individual disability income insurance (also known as income protection insurance) \u201c\u2026reported a substantial loss, primarily driven by loss recognition as adverse claims experience persists.”<\/p>\n

DII recorded a $1,349 million loss\u00a0 for the September year compared with $1,119 million in\u00a0 the year to September 2019.<\/p>\n

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

Risk products reported a combined after-tax loss of $1.5 billion for the 12 months to September 2020 although individual lump sum continued to provide a slight glimmer of silver-lining for the industry. APRA\u2019s Quarterly Life Insurance Performance Statistics publication for the September 2020 quarter shows this combined loss compared with a $418 million loss in […]<\/p>\n","protected":false},"author":24,"featured_media":53468,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8294,48],"tags":[],"class_list":["post-53385","post","type-post","status-publish","format-standard","has-post-thumbnail","category-claims","category-company-news"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/53385","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=53385"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/53385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/53468"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=53385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=53385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=53385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}