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PORTLAND, MAINE: JHA has released the results of the 2005 JHA U.S.
Group Disability Mid-Year 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. The thirty group disability carriers participating in the survey
include nineteen of the top twenty carriers, as ranked by premium in the
full-year 2004 JHA U.S. Group Disability Market Survey.
Survey results indicate that combined U.S. group disability mid-year sales
premium (LTD & STD) increased by just over 3% compared to mid-year 2004,
reaching over $1.2 billion. New sales premium for LTD rose approximately
6% to just under $853 million, while new STD sales experienced a decrease of
3%, to approximately $371 million.
Total combined group disability (LTD and STD) earned premium at mid-year reached
almost $5.6 billion, an increase of 7.5%. Participating companies
reported an 8% increase in LTD earned premium and a 5% increase in STD earned
premium. The total number of insured employees grew by approximately 2%
for LTD and 1% for STD.
The top ten carriers held a market share of 85% of new LTD sales premium and
about 77% of new STD sales premium at mid-year 2005, slightly lower than a year
ago.
“LTD sales rebounded in the first half of this year and earned premium continued
to show steady growth,” said Drew King, President of JHA. “Although the
growth in STD sales has slowed somewhat, there are positive signs in earned
premium growth.”
For more information, please contact Heidi Alpren at (207) 874-2261.
JHA, a subsidiary of General Re Life Corporation (a Berkshire Hathaway company)
is a disability reinsurance, consulting, and research firm located in Portland,
ME. 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.
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