PORTLAND, Maine--(BUSINESS WIRE)--Gen Re’s recently released U.S. Individual Disability Market Survey reveals overall positive results in 2017 for the 15 participating companies. Total in-force premium, which includes Non-Cancelable (Non-Can), Guaranteed Renewable (GR) and Buy-Sell products, increased 2.3%, representing $4.7 billion. Meanwhile, total sales premium increased 9.1%, reaching $402 million.
Additional highlights from this annual benchmark report include:
- Non-Can in-force premium increased 2.1% to $4 billion and represents 85% of total in-force premium. GR in-force premium grew 4.4% to $623 million while Buy-Sell fell 2.5% to under $60 million.
- Non-Can and GR sales premium grew 9.3% and 8.4%, respectively, while Buy-Sell sales premium increased 6.4%.
- The total number of in-force policies remained level, increasing less than one percent (0.8%). However, total new policies increased 9.6%, due mainly to an uptick of nearly 23% in GR policies.
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 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.