COLUMBIA, S.C., July 7 /PRNewswire/ -- Colonial Life & Accident Insurance Company is the nation's second-largest seller of employee benefits at the workplace, according to Eastbridge Consulting Group's 2007 U.S. Worksite Sales Report.
Colonial Life ranked second on the annual study's list of 2007 worksite companies with new sales premium of $334.9 million last year, worth a market share of 7.2 percent.
"Colonial Life has been an industry leader for nearly 70 years," said Randall C. Horn, the company's president and chief executive officer. "These results show our customers and partners continue to value our proven expertise as a company that can help make their benefits count."
Colonial Life passed the $1 billion mark in inforce premium for the first time last year. The company's inforce premium grew by 6.8 percent to $1.03 billion, ranking it fourth among worksite carriers.
Other top national worksite sales rankings for Colonial Life from the
Eastbridge report included:
-- Number 2 in short-term disability
-- Number 2 in accident
-- Number 2 in cancer
-- Number 3 in critical illness
-- Number 3 in universal and whole life
The study also estimated total worksite sales last year at just over $5 billion, an increase of almost 8 percent over 2006. The top 15 companies in worksite sales accounted for more than three-fourths of the market and saw average sales growth of 10 percent last year.
About Colonial Life
Colonial Life & Accident Insurance Company is a market leader in providing insurance benefits for employees and their families through their workplace, along with individual benefits education, advanced yet simple-to-use enrollment technology and quality personal service.
Colonial Life offers disability, life and supplemental accident and health insurance policies in 49 states, the District of Columbia and Puerto Rico. Similar policies, if approved, are underwritten in New York by a Colonial Life affiliate, The Paul Revere Life Insurance Company. Colonial Life is based in Columbia, S.C., and is a subsidiary of Unum Group.
For more information about Colonial Life's products and services or opportunities with the company, call (803) 798-7000 or visit http://www.coloniallife.com .
|SOURCE Colonial Life|
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