A few major life insurers recorded major growth in overall risk premium inflows despite low growth across the entire market, according to Strategic Insight figures.
AIA (13.3 per cent), TAL (11.5 per cent) and BT/Westpac (10.1 per cent) managed to record double digit percentage growth rates in overall risk premium inflows in the year ending September 2016, Strategic Insight said in a statement.
This is despite overall risk premium inflows increasing by a modest 3.6 per cent for the same 12 months, the statement said.
Also, annual sales in the risk market rose 7.5 per cent, after staging a partial bounce back from the 23.2 per cent fall from the previous year.
“Market leaders TAL (138.2 per cent) and AIA (40.6 per cent) both reported large jumps in their risk sales year-on-year again, recovering from equally large falls they suffered in the previous 12 months with volatility in the group risk market, in particular, driving all these results,” the statement said.
The shadow treasurer says advisers can’t be blamed for the high cost of advice as they struggle with increased levies ...
The advice network says it has upgraded its expectation for cost savings to $4 million as a result of Diverger’s ...
Single adviser-led firms continue to expand their footprint in the Australian advice ecosystem, Adviser Ratings research ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin