Market leader TAL enjoyed an annual 15.7% surge in risk premium inflows to $4.39 billion for the 12 months to September, giving it a 27.3% share of the overall business generated during the period, new figures from actuaries and researchers Plan for Life shows.

Overall risk premium inflows declined 0.4% to $16.07 billion during the period, with BT/Westpac Group registering the sharpest fall, at 20.8% to $943.4 million from a year earlier. Next was AIA Group as inflows decreased 10.1% to $3.06 billion.

Other insurers that recorded declines are MLC Life (down 2.3% to $1.78 billion), Resolution Group (down 4.6% to $1.57 billion) and MetLife Insurance (down 4.3% to $752.5 million).

Apart from TAL, the other insurers that also made gains are Zurich (up 1.8% to $2.31 billion) and ClearView Life (up 7.9% to $276 million).

Overall annual sales in the risk market - which Plan for Life says is comprised of both individual risk lump sum and risk income insurances plus group risk insurance - grew 28.9% from a year earlier.

When measured by risk premium inflows, individual lump sum recorded a 0.3% rise to $7.05 billion, individual income 0.6% to $2.85 billion while group risk declined 1.7% to $6.17 billion.