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Individual risk lump sum premium inflows
Inflows into the Lump Sum sub-market posted a fall of 2.9% over the past year, with mixed results amongst leading companies.
NobleOak (20.8%), ClearView (7.7%), Zurich (2.5%) and TAL (1.7%) posted positive growth, which was offset by Resolution (-35.5%) and AIA (-8.7%) who were both down.
Much of the Resolution drop relates tothe AMP Super mandate which transitioned to TAL during the June quarter, part of which was previously classified by Resolution as individual risk business but is now included by TAL under group risk.
Individual Risk Income Premium Inflows
Risk income inflows fell by marginally more than the lump sum market, down 2.9% over the past year.
Among the better performers in percentage growth terms were NobleOak (20.1%) and ClearView(8.0%), with all other leading players posting marginal growth or declines.
Group Risk Premium Inflows
Overall group risk premium inflows experienced a small 0.6% rise over the past year, with MetLife reporting the highest growth rate (up 15.4%) after taking over the UniSuper mandate from TAL during the year.
Australian Retirement Trust (8.0%) and Zurich (5.3%) also posted increases.
It should be noted that individual company growth can be significantly impacted by super fund insurance mandate movements.
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Total risk market inflows were down a marginal 0.6% over the year to June 2024, decreasing from $18.3 billion to $18.2 billion.
Dual access ETPs, which are transacted both on stock exchanges and off-market through funds managers, can cost four times as much as the rest of the Australian ETP market.
