{"id":69888,"date":"2024-02-13T08:30:49","date_gmt":"2024-02-12T22:30:49","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=69888"},"modified":"2024-02-20T13:41:08","modified_gmt":"2024-02-20T03:41:08","slug":"lift-in-lump-sum-ip-new-business-sales","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2024\/02\/13\/lift-in-lump-sum-ip-new-business-sales\/","title":{"rendered":"Lift in Lump Sum, IP New Business Sales"},"content":{"rendered":"

Both individual risk lump sum sales and new risk income sales rose slightly in the year to September 2023, countering a series of quarterly falls seen earlier in the 2023 year.<\/p>\n

Plan for Life’s<\/a> latest Market Overview<\/em> analysis found that individual risk lump sum sales increased by 3.9% to reach $1,237 million in the September 2023 year, while new risk income sales increased overall by a modest 2.1% to $555.6 million.<\/p>\n

As we reported late last year, in the year to June 2023 individual risk lump sum sales fell by 2.8% while individual IP new business declined by a significant 10%. (see: Lump Sum, IP New Business Sales Continues Decline<\/a>).<\/p>\n

The research firm says in this September 2023 year overall annual sales in the risk market decreased by 2.1% mainly due to group risk sales dropping by close to a quarter, noting this is a competitive and volatile market.<\/p>\n

\"\"<\/a>
Courtesy of Plan for Life.<\/figcaption><\/figure>\n

The firm says that overall risk premium inflows rose slightly by 1.1% over the year from $18.0bn to $18.2bn.<\/p>\n

\"\"<\/a>
Courtesy of Plan for Life.<\/figcaption><\/figure>\n

Year on year individual risk lump sum inflows were up slightly by 2.2% and overall individual risk income inflows rose 3.7% over the past year.<\/p>\n

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

Both individual risk lump sum sales and new risk income sales rose slightly in the year to September 2023, countering a series of quarterly falls seen earlier in the 2023 year. Plan for Life’s latest Market Overview analysis found that individual risk lump sum sales increased by 3.9% to reach $1,237 million in the September […]<\/p>\n","protected":false},"author":24,"featured_media":69895,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-69888","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/69888","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=69888"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/69888\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/69895"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=69888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=69888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=69888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}