PORTLAND, MAINE: JHA has released the results of the 2004 Mid-Year U.S. Group Disability Market Survey.  This leading benchmarking survey reports group Long Term Disability (LTD) and Short Term Disability (STD) insured sales and earned premium results for the first half of the year. Thirty-two group disability insurance carriers participated in the 2004 Mid-Year Survey, including nineteen of the top twenty carriers, as ranked by premium in the 2003 JHA U.S. Group Disability Market Survey.

According to the survey, combined U.S. group disability mid-year sales premium (LTD & STD) increased approximately 2% over mid-year 2003, to just over $1.1 billion.  New sales premium for LTD was flat at just under $779 million while new STD sales increased 7%, to $358 million.  

Combined group disability earned premium at mid-year increased nearly 6%, reaching almost $5.2 billion.  Participating companies reported a 6% increase in LTD earned premium and a 7% increase in STD earned premium.  The total number of LTD insured employees increased by just over 3% while STD increased by 2%.

For the 2004 Mid-Year results, the top ten carriers accounted for 87% of new LTD sales premium and about 81% of new STD sales premium, an increase in market share when compared to the first half of 2003.

“Due to some company consolidations in the first half of 2004, the growth of the top ten carriers has increased,” said Drew King, President of JHA.  “In addition, there have been some changes to the list and order of the top carriers as well. 

“Overall sales results are relatively flat as compared to both the mid-year and full year results for 2003.  Meanwhile, earned premium continues to grow at a steady pace,” King reports.       

For more information, please contact Lisa Bolduc at (207) 874-2261.

JHA, a subsidiary of General Re Life Corporation (a Berkshire Hathaway company) is 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.