Australian life risk premium inflows grew 2% to $16.3 billion last year, analyst Strategic Insight says.

Individual risk lump sum grew 0.3% to $7.1 billion, individual risk income gained 1.9% to $2.8 billion and group risk was up 4% to almost $6.4 billion.

Market leader TAL increased its share to 18.1% from 17.8% in 2017, recording $2.96 billion in risk premium. Second-placed AIA Australia, with 15.9% market share, achieved the highest increase in annual risk premium, up 17.4% to $2.6 billion.

Scandal-hit CommInsure posted the sharpest decline with risk premiums down 19.3% to $1.28 billion. AMP, also under fire over its misconduct, saw a 7.7% decline to $1.76 billion.