Inflows to the individual lump sum sub-market grew over the 12 months ending September 2015, with insurers OnePath and TAL experiencing the highest percentage increases, a review by Plan For Life has found.
According to Plan For Life, the lump sum sub-market grew by 6.0 per cent over the 12-month period, up from $6.283 billion in the previous corresponding period.
Plan For Life reported that among the market leaders, OnePath (7.8 per cent) and TAL (7.0 per cent) experienced the highest increases in their inflows year-on-year.
Across individual risk income inflows, the market was up 5.5 per cent over the past year.
Among the better performers, in percentage terms, were BT/Westpac (16.7 per cent), TAL (13.2 per cent) and OnePath (11.3 per cent), Plan For Life said.
Across the group insurance sector, risk premium inflows were up 9.2 per cent.
Of the larger companies, MLC (17.2 per cent), CommInsure (14 per cent) and MetLife (11.5 per cent) recorded well above-average percentage increases in their annual group risk inflows, largely due to pricing increases, according to Plan for Life.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 23 Oct 2018Platform provider remains ahead of the packBy Eliot Hastie
- 23 Oct 2018Wentworth loss opens Coalition to FASEA changesBy James Mitchell
- 22 Oct 2018ASIC reveals findings of CBA enforceable undertakingBy Adrian Flores
- 22 Oct 2018ARCO fund added to BT Panorama platformBy Adrian Flores
- 22 Oct 2018NAB well-placed to sell MLC wealth businessBy James Mitchell
- 22 Oct 2018CBA announces appointment of CFOBy Reporter
- view all