MIB Life Index Reports U.S. Life Insurance Activity Up 1.2% in January

BRAINTREE, Mass., Feb. 11 /PRNewswire/ -- U.S. application activity for individually underwritten life insurance increased +1.2% in January year-over-year, according to the MIB Life Index(SM).  January represents the sixth consecutive month where year-over-year change is positive for the U.S. Life Index - the longest sustained trend of U.S. increases on record.  Application activity for the period December 2009 to January 2010 remained flat at +0.1%.  

U.S. activity by age group showed: ages 0-44, off -2.5%; ages 45-59, up +2.5%; and ages 60+, up +15.2% - the tenth consecutive month of year-over-year, double-digit growth.  Notably, the 45-59 age group, which has mostly lost ground since 2004, is experiencing an upswing in application activity that started in July of 2009 and has continued through this past January.  

NOTE: Effective with the release of the MIB Life Index statistics for January 2010, MIB will suspend publication of the Canadian Life Index.  Increasing volatility and ongoing consolidation in that market has created the need to re-examine the method of calculating the Canadian Life Index.  

The 2009 North American MIB Life Index Annual Report is available for free at www.mibsolutions.com/LI.    

    
    
    
        U.S. Monthly Percent Change
        ---------------------------
    Jan. '10 / Jan. '09          +1.2%
    Dec. '09 / Dec. '08          +2.6%
    
    
    
      U.S. Monthly Percent Change Over Prior
      --------------------------------------
    Jan. 2010                          +0.1%
    
    
    
           U.S. Monthly Percent Change
          by Age Group (year-over-year)
          -----------------------------
    
             Jan. '10  Dec. '09  Nov. '09
             --------  --------  --------
    0 - 44       -2.5%     -0.2%      0.0%
    45- 59       +2.5%     +3.3%     +6.7%
      60 +      +15.2%    +14.3%    +18.8%
    

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 an email subscription visit 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. (www.mib.com).

SOURCE MIB Group, Inc.