PORTLAND, MAINE:  JHA is pleased to release the results of its 2003 U.S. Individual Disability Market Survey.  This industry benchmark survey captured 2003 Guaranteed Renewable (GR), Non-Cancelable (Non-Can) and Buy-Sell business line results for 19 individual disability insurance carriers.

In 2003, U.S. individual disability inforce premium (GR, Non-Can and Buy-Sell) grew almost 4% over 2002, reaching just over $3.7 billion.  Participating companies reported a 5% increase in GR inforce premium, and close to a 4% increase in Non-Can inforce premium.  According to the survey, the number of inforce GR policies decreased by less than 1% while the number of Non-Can policies increased by approximately 2%.  Inforce benefit amounts for both GR and Non-Can increased by about 4% and 3% respectively, compared to 2002.

Overall, GR and Non-Can combined new sales premium fell just over 1% in 2003.  The number of new GR and Non-Can policies written declined close to 7%.  GR new sales premium decreased 3% while Non-Can new sales decreased less than 1%. 

“While overall industry sales results remained relatively flat in 2003, individual company results varied greatly.  It appears that the shift from Guaranteed Renewable to Non-Can sales has continued,” said Drew King, President of JHA.

The JHA U.S. Individual Disability Market Survey features both sales and inforce premium information.  Participating companies receive the comprehensive report.

JHA, a subsidiary of General Re Life Corporation (a Berkshire Hathaway company), is a disability reinsurance, consulting, and market research firm located in Portland, Maine.  Since 1986, JHA has been helping insurers, TPAs, employers, brokers, and benefit consultants improve their disability business performance.  Through its market research practice and consulting work, JHA is the leading source for information and data about the disability market.