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MIB Life Index Reports North American Life Insurance Activity Up 1.4% in December
Date:2/12/2008

Application volume off 2.5% in 2007

BRAINTREE, Mass., Feb. 12 /PRNewswire/ -- North American application activity for individually underwritten life insurance was up +1.4% in December, year-over-year. For the year, 2007 application activity lagged that of 2006 by -2.5%, according to the MIB Life Index(SM). Despite early year first quarter declines, the 60+ age demographic was the only age group to post 2007 year-to-date gains, up +1.8%. Consistent with the trend, strong fourth quarter gains (up +7.8% Q3/Q4 2007) drew 2007's Q4 activity level with 2006 -- off a modest -0.5%.

U.S. application activity was flat in December, up a modest +0.4% year- over-year, all ages combined. For the year (YTD), 2007 applications lagged that of 2006 by -2.9%. Year-to-date, the age 60+ demographic was the only grouping to post annual gains, up +1.7% year-over-year, as compared to the prior year's losses of -2.0% (2005/2006). Age groups 0-44 and 45-59 were off - 4.1% and -1.9%, respectively as compared with year-end 2006. The 0-44 age group (representing 62% of all application volume) has declined -11.8% over a three-year period (2004/2007).

Canadian application activity jumped +9.2% in December year-over-year, all ages combined posting the largest net gain for a December since the Index's inception. For the year, 2007 applications finished relatively level with last year, up a slight +0.6%.

In contrast to U.S., both Canada's 45-59 and 60+ age groups finished 2007 (YTD) with year-over-year increases, up +4.3% and +2.2%, respectively. Applications in ages 0-44 were off -1.3% from 2006 year-end levels.

Monthly Percent Change vs. 2006

US Canada Total

December 2007 +0.4% +9.2% +1.4%

November 2007 -2.8% +4.2% -2.0%

Q4 2007 -1.2% +4.7% -0.5%

YTD 2007 -2.9% +0.6% -2.5%

Yearly Change by Age Group

2007 vs. 2006

US Canada Total

0 - 44 -4.1% -1.3% -3.8%

45 - 59 -1.9% +4.3% -1.2%

60 + +1.7% +2.2% +1.8%

Monthly Percent Change vs. Previous Month

US Canada Total

December 2007 +2.8% -11.6% +0.9%

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 email subscription visit http://www.mib.com/lifeindex.

About MIB Group, Inc.

MIB Group, Inc. is the premier provider of Internet-based information and knowledge services to the risk management market in North America and is a leading facilitator of electronic insurance commerce. MIB Group, Inc. companies include MIB, Inc. and MIB Solutions, Inc. (http://www.mib.com).

Contact:

David O. Aronson

MIB Group, Inc.

781-751-6330

daronson@mib.com


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SOURCE MIB Group, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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