Press Releases

U.S. Critical Illness Market Survey Results Show Positive Sales Growth

Issue: November 2017 | Life/Health North America

For immediate release
November 28, 2017

Portland, ME, November 28, 2017 … The 16th annual U.S. Critical Illness Market Survey reveals a healthy market for those participating in Gen Re’s most recent report. For those carriers who were actively selling, new business premium came in at $476.5 million, an increase of just over 10% from the prior year’s report.

“Carriers who participated in and shared data for both 2015 and 2016 reporting years experienced an impressive 17% growth rate for new business premium,” said Steve Rowley, VP, Senior Account Executive and a manager of the report. “This is an extremely favorable result and points to the success that can be achieved for those considering entry into this market.”

Additional key results from this year’s report include:

  • Over $1.1 billion of in-force premium and 3.8 million policies/certificates were reported.
  • When asked what their targeted annual sales growth is for the next three years, more than half reported above 10%, with 28% expecting greater than 20% growth.
  • The majority of participating carriers (58%) indicated that they intend to increase their focus on Critical Illness insurance.
 

Copies of the full report will be available only to participating companies. For more on Gen Re's Critical Illness knowledge and solutions visit genre.com/cicomplete.

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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, AD&D, Medicare Supplement, Critical Illness and Disability markets. Through our research, we also offer valuable information and insights. For more information, visit www.genre.com.

 

Contact:

Steve Rowley
Tel. + 203 352 3105