However, inflows into the lump sum sub-market grew by only 0.2 of a percentage point over the past year with mixed company-level results, Strategic Insight said.
Among the market leaders, Zurich (5.3 per cent), TAL (4.0 per cent) and Suncorp (1.4 per cent) experienced the highest percentage increases in their inflows, with smaller players such as ClearView (11.2 per cent) and AIA (10.6 per cent) also reporting impressive growth.
Risk income inflows experienced higher growth than the lump sum market, up 1.9 per cent over the past year. Among the better performers in percentage terms were AIA (7.7 per cent), TAL (6.4 per cent) and Suncorp (6.0 per cent).
As for overall group risk premium inflows, it experienced 4.0 per cent growth over the past year, although individual company results varied significantly.
Of the larger companies, AIA (20.6 per cent) and MetLife (13.0 per cent) recorded well above average percentage increases in their annual group risk inflows.
“It should be noted that individual company growth can be significantly impacted by super fund insurance mandate movements,” Strategic Insight said.
Do we have stats on the smaller companies?
Neos, NobleOak, PPS, Integrity
This report flies directly in the face of everything I’m hearing from Insurance Company BDM’s and other advisers out there so what’s the truth?
If the industry is ‘down’ as I’m led to believe it is, how do reports like this happen?
Risk inflows up.
What was the risk premium outflows due to exorbitant and unsustainable premium increases ?