Risk inflows remained flat in FY19

While MetLife (23.8 per cent), ClearView (12.4 per cent), AIA (6.1 per cent), TAL (3.3 per cent) and Zurich (1.3 per cent) all managed to report increases in their annual risk inflows, those of both CommInsure (-11.1 per cent) and AMP (-10.6 per cent) were significantly lower, according to a statement.

Total reported premium sales dropped by close to a quarter, or 24 per cent, with all markets substantially lower in particular group risk where sales almost halved year-on-year.

Most companies reported lower risk sales led down by BT/Westpac (-62.5 per cent), AIA (-51.1 per cent), CommInsure (-32.7 per cent), AMP (-25.0 per cent) and TAL (-20.4 per cent) that posted double-digit percentage falls.

By contrast, MetLife (173 per cent) saw its sales jump thanks to a recovery in its group risk business while Zurich (4.1 per cent) was also higher year-on-year.

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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