WESTWOOD, Mass., April 15 /PRNewswire/ -- According to the MIB Group,
Inc., March applications for individually underwritten life insurance in North
America declined -2.3% year-over-year, marking the eighth decline in
application activity over the past 12 months. First quarter 2005 results show
application activity was off -2.5% for North America, -2.3% in the U.S., and
-4.2% in Canada from Q1 2004 levels.
The U.S. MIB Life Index(SM) declined -1.6% in March, year-over-year.
February-to-March activity increased +3.3%, contrasting with a -0.8% decline
for the same two-month period 2004. Applications by age demographic for the
first quarter remained stable with past trends: ages 0-44 and 45-59 declined
-3.5% and -1.5% respectively, with continued growth in ages 60+, up +3.2%
year-over-year. Compared to 2004/2003 Q1 results, net change for the 0-44 and
45-59 age groups were consistent, but growth in the 60+ age group appears to
have moderated from this period's robust +5.9% increase.
Canadian year-over-year application activity declined sharply in March
(-7.0%), with February-to-March activity flat at -0.4%. First quarter 2005
application activity by age demographic declined across all three age groups:
ages 0-44, off -4.6%; ages 45-59, off -3.9%; and ages 60+, off -2.1%; in
contrast to Q1 2004/2003 levels of -2.0%, +1.8%, and +6.8% respectively.
Monthly Percent Change vs. 2004
US Canada Total
March 2005 -1.6% -7.0% -2.3%
February 2005 -5.5% -5.3% -5.5%
Ql 2005 -2.3% -4.2% -2.5%
Monthly Percent Change vs. Previous Month
US Canada Total
March 2005 +3.3% -0.4% +2.9%
About MIB
MIB Group, Inc., headquartered in Westwood, Massachusetts, is the premier
provider of Internet-based information and knowledge services to the risk
management market space in North America and a leading facilitator of
electronic insurance commerce. MIB customers underwrite over 95 percent of the
premium dollars for individual life insurance issued in the United States and
Canada. MIB Group, Inc. companies include MIB, Inc. and e-Services
Corporation. For more information, visit http://www.mib.com.
Contact:
David O. Aronson Nicole Huttner
MIB Group, Inc. Michael Meyers & Associates
781-751-6130 312-661-0055 ext. 320
info@mib.com nhuttner@mmeyers.com
SOURCE MIB Group, Inc.
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Related links:
http://www.mib.com
CONTACT:
David O. Aronson, of MIB Group, Inc.,
+1-781-751-6130, info@mib.com; or Nicole Huttner, of Michael
Meyers & Associates, +1-312-661-0055, ext. 320,
nhuttner@mmeyers.com
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