The company’s latest risk results found total risk inflows had grown 2.3 per cent in the 12 months to June 2017, up from $15.7 billion to $16.1 billion.
Risk income flows saw the largest growth, up 3.8 per cent supported by growth in TAL and AIA’s inflows of 13.2 per cent and 11.9 per cent, respectively.
This was followed by the lump sum sub-market, which grew 2.9 per cent in the same time period, with TAL and BT/Westpac leading the growth at 7.4 and 7.3 per cent, respectively.
Group risk premium inflows were “almost unchanged compared to the previous year”, the company said, with only 1.1 per cent growth for the year.
Three larger companies, MetLife, MLC and TAL, all experienced “well above-average percentage increases” in group risk inflows (16.7, 8.4, and 5.1 per cent, respectively), however Strategic Insight noted the growth rates of MetLife and TAL were due to “being awarded significant super fund insurance mandates” during the 12-month period.
A 2.3% growth in Risk inflows – Wow. I would have thought that with premium increases of 20% that 2.3% growth would be seen as disastrous. What am I missing or is the Industry going backwards?