WESTWOOD, Mass., March 21 /PRNewswire/ -- North American life insurance
application activity declined -5.5% in February year-over-year, but jumped
+12.6% on a monthly basis compared to this past January, extending a
longstanding seasonal trend. The February rebound has been observed for five
consecutive years at an average annual increase of +15.2%. North American
year-to-date averages were pushed lower based on February declines to -2.5%.
The U.S. MIB Life Index(SM) declined -5.5% year-over-year, with monthly
activity increasing +12.8% versus January 2005. Year-to-date levels were -
2.5% below the same period 2004. Application volume by age demographic were
mixed with the 60+ age group up +1.0%, and ages 0-44 and 45-59 declining -6.7%
and -5.2% respectively, year-over-year.
Canadian applications were off -5.3% year-over-year, with monthly activity
increasing +11.4% versus January 2005. Year-to-date levels were -2.4% below
the same period 2004. Application volume by age demographic declined across
all three age groups: age 0-44 off -5.7%, age 45-59 off -5.3%, and age 60+ off
-2.4%.
Monthly Percent Change vs. 2004
US Canada Total
February 2005 -5.5% -5.3% -5.5%
January 2005 +0.9% +0.8% +0.9%
YTD 2005 -2.5% -2.4% -2.5%
Monthly Percent Change vs. Previous Month
US Canada Total
February 2005 +12.8% +11.4% +12.6%
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
MIB Group, Inc.
781-751-6130
info@mib.com
Nicole Huttner
Michael Meyers & Associates
312-661-0055 ext. 320
nhuttner@mmeyers.com
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