{"id":67174,"date":"2023-08-14T14:40:13","date_gmt":"2023-08-14T03:40:13","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=67174"},"modified":"2024-10-30T08:39:56","modified_gmt":"2024-10-29T22:39:56","slug":"risk-new-business-sales-fall-again","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2023\/08\/14\/risk-new-business-sales-fall-again\/","title":{"rendered":"Risk New Business Sales Fall Again"},"content":{"rendered":"

Life insurance risk new premium sales decreased in the year ended March 2023, echoing the decline recorded a year earlier and a fall in the year to December 2022.<\/p>\n

Plan for Life’s<\/a> latest data shows total risk sales for the March 2023 year slipped 8.3% to approx. $2.14 billion, compared to a year earlier.<\/p>\n

The research firm says that in the individual risk lump sum market, year-on-year reported sales remained little changed, up overall a marginal 0.9% (to reach $1.22 billion) in the March 2023 year.<\/p>\n

In the individual risk income market overall new premium sales decreased 8.1% to $517 million over the same period.<\/p>\n

For the year ending December 2022, new premium sales for individual lump sum policies declined by 5.3% compared to 2021, while individual income protection insurance new business sales were down by 4.1% (see: Risk New Business Continues Sad Decline<\/a>).<\/p>\n

However the latest analysis for the March 2023 year shows total risk market inflows rose by 3.2% from $17.7bn to $18.2bn.<\/p>\n

Premium inflows into the individual risk lump sum and the individual risk income markets increased by 2.7% and 4.3% respectively ahead of the March 2022 year inflows.<\/p>\n

\"\"<\/a>
Courtesy of Plan for Life.<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Life insurance risk new premium sales decreased in the year ended March 2023, echoing the decline recorded a year earlier and a fall in the year to December 2022. Plan for Life’s latest data shows total risk sales for the March 2023 year slipped 8.3% to approx. $2.14 billion, compared to a year earlier. The […]<\/p>\n","protected":false},"author":24,"featured_media":67181,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-67174","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/67174","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=67174"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/67174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/67181"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=67174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=67174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=67174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}