Total risk market inflows increased to $14.9 billion over the year ending 30 June 2015, an industry review by Plan for Life has found.
For the year to 30 June 2015, Plan for Life found that total market inflows grew by 10.1 per cent from $13.5 billion in the prior corresponding period.
Plan for Life also noted inflows into the lump sum sub-market grew 6.2 per cent, with most companies reporting “at least some” increase in business.
“Among the market leaders, OnePath (6.8 per cent) and TAL (6.6 per cent) experienced the highest percentage increases in their inflows year on year,” a statement from Plan for Life said.
These were followed by NAB/MLC and AMP which grew 3.4 per cent and 2.6 per cent respectively.
When it came to individual risk income inflows, the industry experienced an increase of 5.7 per cent over the year.
Among the top performers in this segment were BT, TAL and OnePath, growing 18.1 per cent, 12.9 per cent and 11.4 per cent respectively.
However, across the segment, AMP saw a dip of 1.5 per cent in its annual growth, along with NAB/MLC which saw a dip of 0.8 per cent.
Across the group risk segment, the industry saw an increase in inflows of 17 per cent.
“Of the larger companies, AIA (21.3 per cent), CommInsure (20.5 per cent) and MLC (18.4 per cent) recorded well above-average percentage increases in their annual Group Risk Inflows, largely due to pricing increases,” the statement said.