Risk inflows down 4.6% from last year

Total risk market inflows totalled $15.7 billion over the year ending September, a decline from $16.5 billion one year ago, new research figures reveal.

The figures from Plan For Life revealed that inflows into the lump sum sub-market fell 2.0 per cent over the past year with mixed company-level results.

Among the market leaders, AIA (7.1 per cent), ClearView (7.0 per cent) and MLC (2.1 per cent) experienced positive percentage increases in their inflows, while the remainder reported minimal or negative growth.

In contrast to the falling lump sum market, risk income inflows experienced growth, albeit marginal, up 0.3 per cent over the past year, Plan For Life said.

Among the better performers in risk income inflows in percentage growth terms were ClearView (17.7 per cent), AIA (8.6 per cent) and Zurich (3.1 per cent).

Overall group risk premium inflows experienced a 9.7 per cent fall over the past year, something Plan For Life said was largely due to the impact of ‘Protecting Your Super’ legislation, which came into effect during July.

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However, of the larger companies, MetLife (5.4 per cent) and TAL (1.4 per cent) still managed to record some growth, according to its figures.

“It should be noted that individual company growth can be significantly impacted by super fund insurance mandate movements,” Plan For Life said.

Risk inflows down 4.6% from last year
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Adrian Flores

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].

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