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STAMFORD, CONNECTICUT: Gen Re LifeHealth and JHA released the results of
the 2007 U.S. Group Life Market Survey, a leading industry benchmark survey
covering Group Term Life (GTL), and Voluntary Group Term Life (VGTL) new sales
and inforce premium, volume, lives, and cases. For the first time, this year’s
survey also included new sales and inforce premium and volume for Group
AD&D and Voluntary AD&D. Thirty-two companies participated in the 2007
survey, representing over $17.7 billion in premium.
The survey shows that GTL inforce premium increased 5% in 2006 to almost $16
billion. VGTL inforce premium increased 10% in 2006 to over $1.7 billion.
Results also indicate that 2006 GTL new sales premium decreased by 2% to $1.7
billion; GTL volume increased by 1%, as compared to 2005. New VGTL sales
premium increased by 15% to $293 million; VGTL volume increased by 17%, as
compared to 2005.
New lives for GTL decreased by 19%, while cases grew by 2%, causing the average
lives per case on new sales to decrease 20% in 2006. For the second straight
year, the number of GTL inforce cases grew, if only slightly.
“We are very pleased and excited to present this more comprehensive Market
Survey. The results of the survey help participating companies perform an
external analysis as a basis for strategic planning and operational
adjustment,” said Achim Dauser, Vice President and Manager of the Group Life
and AD&D lines of business at Gen Re LifeHealth.
The annual Gen Re LifeHealth U.S. Group Life Market Survey, now in its fifth
year, presents new sales figures and inforce amounts for both group term and
voluntary group term life products. In addition, the survey covers premium,
volume, lives, and cases. Participating companies receive the full report. To
obtain a summary of the U.S. Group Life Market Survey results, visit JHA’s
website at www.jhaweb.com. To participate in next year’s survey, please contact
Marcy Updike, Director of Market Research, at mupdike@jhaweb.com.
Gen Re LifeHealth and Gen Re are global brands belonging to General Re
Corporation, a subsidiary of Berkshire Hathaway Inc. and a holding company for
global reinsurance and related risk management operations.
JHA, a subsidiary of Gen Re LifeHealth, 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 research practice and consulting
work, JHA (www.jhaweb.com) is the leading source for information about the
disability market.
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