Risk insurance sales drop nearly 25%
The risk insurance sector has experienced a significant drop in sales for the year ending September 2015, an industry review by Plan For Life has found.
According to Plan For Life, overall sales in the risk market dropped by 23.7 per cent for the year.
Among the insurers that reported "very substantial" decreases in risk sales were MetLife and TAL, both reporting drops of 71 per cent and 60 per cent respectively.
Plan For Life also found that AIA experienced a decrease of 37.3 per cent and AMP saw sales drop 22.7 per cent.
The research house noted, however, that the falls in sales were "primarily concentrated" in the group insurance market, not the retail market.
Plan For Life also found that over the year, the risk sector experienced an increase in premium inflows of 7.1 per cent to $15.2 billion.
Among the insurers that experienced the greatest inflows were BT (13.5 per cent), MetLife (12.1 per cent), OnePath (11.7 per cent) and AIA (9 per cent).
Bravura to acquire Midwinter for $50m
Bravura Solutions has announced it has entered an agreement to acquire financial...
IRESS records 10% profit growth in 1H19
Advice software provider IRESS noted significant revenue growth in its APAC fina...
FPA members to be given education discounts
The Financial Planning Association of Australia has teamed up with five higher e...