PORTLAND, Maine--(BUSINESS WIRE)--Gen Re’s recently released U.S. Individual Disability Market Survey reveals overall positive results in 2016 for the 17 participating companies. Total in-force premium, which includes Non-Cancelable (Non-Can), Guaranteed Renewable (GR) and Buy-Sell products, increased 1.6%, representing nearly $5 billion. Meanwhile, total sales premium was flat at -0.2%.
Additional highlights from this annual benchmark report include:
- Non-Can represents 86% of total in-force premium, GR represents 13% and Buy-Sell accounts for just 1%.
- In-force premium for Non-Can increased 1.4% in 2016 to $4.3 billion; GR in-force premium grew 3.3% to $626.5 million, while Buy-Sell fell 2.5% to $66.4 million.
- Non-Can sales premium grew 1.2%, while GR decreased 6.1%. After several years of trending downward, Buy-Sell sales premium increased 4.7%.
The Market Survey is an annual benchmark survey produced by Gen Re, with the full results available only to participating companies. A summary report is available online at www.genre.com/lhsurveys.
Gen Re, a Berkshire Hathaway Company, is one of the leading life/health and property/casualty reinsurers in the world. Our North American life and health reinsurance company, General Re Life Corporation, has superior financial strength ratings among life and health reinsurers. Gen Re delivers customized reinsurance programs and risk management solutions for the Life, Medicare Supplement, Critical Illness and Individual Disability Income markets. Through our research, we also offer valuable information and insights. For more information, visit www.genre.com.