For immediate release
May 20, 2010 |
Stamford, CT, May 20, 2010 … Gen Re LifeHealth has released the results of the 2009 Medicare Supplement Market Survey to participating companies. This survey is the first of its kind for the Medicare Supplement insurance industry. Forty-nine companies, representing an estimated market share of over 57%, participated in the survey.
By a wide margin the two most common challenges respondents mentioned for their Medicare Supplement line were competition and sales growth. Most companies did not experience an increase in sales in 2009 and had only modestly more optimistic expectations for 2010.
The survey reports on a number of important areas such as Med Supp sales, profits, claims trend, lapse rates, rate filings, product challenges, corporate challenges, competitive threats, marketing channels, partnerships with other carriers, outsourcing, and healthcare reform concerns.
Gen Re's next Medicare Supplement Market Survey will begin in October 2010.
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General Re Life Corporation operates under the brand name Gen Re LifeHealth and is the North American life and health reinsurance company of General Re Corporation. General Re Life Corporation has the highest financial strength ratings among professional life and health reinsurers. General Re Corporation is a holding company for global reinsurance and related operations which operates under the brand name Gen Re. Gen Re is one of the leading property/casualty and life/health reinsurers in the world, and is a Berkshire Hathaway Company.