Press Releases

Gen Re and Milliman Publish 2014 & 2015 U.S. Group Disability Market Survey

Issue: June 2016 | Life/Health North America

For immediate release
June 9, 2016

Portland, ME, June 9, 2016…Milliman, a premier global consulting and actuarial firm and Gen Re, a leading global life/health reinsurer, are pleased to announce results from their first jointly produced U.S. Group Disability Market Survey.

The U.S. Group Disability Market Survey, originally launched in 1987, has returned after a brief hiatus as a result of a collaborative partnership between Milliman and Gen Re. The report covers sales and in-force results for Short Term and Long Term Disability products and includes analysis of premiums, cases and covered lives from new sales and in-force business for 2014 and 2015.

 Highlights from the survey include:

  • Total premium was approximately $4 billion for total STD in-force business and $10 billion in 2015 for LTD in-force. This is believed to represent 90% - 95% of the group disability insurance market, with 26 disability insurance companies participating.
  • Combined STD and LTD in-force premium was about $14.7 billion among contributing companies, versus $14.1 billion in 2014. STD in-force premium increased by approximately 6% from 2014 to 2015, and LTD in-force premium increased by approximately 3%.
  • Combined new sales premium (STD and LTD) was approximately $2.1 billion for 2015 versus $2.0 billion in 2014. STD new sales premium increased by approximately 8% from 2014 to 2015, and LTD new sales premium increased by approximately 2%.


Copies of the full report will be available only to participating companies. For a summary of results, visit www.milliman.com or www.genre.com/lhsurveys.

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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 tailor-made reinsurance programs and risk management solutions for the Life, Medicare Supplement, Critical Illness and Disability markets. Through our research, we also offer valuable information and insights. For more information, visit www.genre.com.

Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com.

 

Contact:

Paul Correia, Milliman
Tel. +1 207 771 1204

Heidi Alpren, Gen Re
Tel. +1 207 347 4624