MIB Life Index Reports U.S. Life Insurance Activity Up Slightly in March
Q1 results consistent with pre-recession levels
BRAINTREE, Mass., April 20, 2011 /PRNewswire/ -- U.S. application activity for individually underwritten life insurance was up slightly in March, +0.6% year-over-year all ages combined, according to the MIB Life Index (SM). The modest uptick is more earnest than at first glance, given its year-over-year juxtaposition against the +2.4% percent increase for March 2010. Prior to 2010, the U.S. Life Index for March has invariably lost ground in each of the last five consecutive years. At the close of the first quarter (Q1) year-to-date activity is off -1.0% compared to Q1 2010 (the last quarter of recovery as noted by the Index after recessionary levels in 2008/2009). March 2011 application activity was up +1.1% over February 2011 activity.
The U.S. MIB Life Index by age groups showed: ages 0-44 off slightly at -0.6%; ages 45-59 were off -1.6% and ages 60+ were up +9.3% year-over-year. At first quarter's close, ages 0-44 were off -3.7%, ages 45-59 were off slightly at -0.9%, and ages 60+ were up +9.2%.
The 2010 MIB Life Index Annual Report and other trend analytics are available at no cost with registration by visiting www.mibsolutions.com/regLI or login at www.mibsolutions.com/loginLI. Listen to the AM Best podcast of MIB's CEO speaking about the industry for 2010 at http://bit.ly/erWcja.
U.S. Monthly Percent Change
U.S. Monthly Percent Change by Age
0 - 44
U.S. Monthly Percent Change
About the MIB Life Index
The MIB Life Index is the life insurance industry's timeliest measure of application activity across the U.S. and Canada. Released to the media each month, the Index is based on the number of searches life member company underwriters perform on the MIB Checking Service database. Since the vast majority of individually underwritten life premium dollars in North America include an MIB search as a routine underwriting requirement, the MIB Life Index provides a reasonable means to estimate new business activity. For past releases and an email subscription visit www.mib.com/lifeindex.
MIB is the life and health insurance industry's most trusted resource for underwriting information and analytical services. Owned by the industry it has served for more than a century, MIB is uniquely positioned to deliver insights to its Members, enabling them to more effectively assess risk and enhance their profitability. MIB, Inc. and MIB Solutions, Inc. are wholly-owned subsidiaries of the MIB Group, Inc. (www.mib.com and www.mibsolutions.com).
David O. Aronson
MIB Group, Inc.
SOURCE MIB Group, Inc.
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