According to the 2010 U.S. Group Life and Group Disability Mid-Year Market Survey, the group life and disability markets continue to face slow growth after a tough 2009, finds South Portland, Maine-based JHA, a division of Gen Re.
In total group-term life, participating companies reported a 2 percent increase in earned premium to hit over $8.8 billion at mid-year 2010, compared to mid-year 2009. Basic group-term life accounted for most of the total premium. For short- and long-term disability, the total group disability earned premium fell by 2 percent to $6.6 billion. The earned premium for short- and long-term disability decreased, by 1 percent and 2 percent.
At the same time in 2009, the number of employers offering insurance remained relatively unchanged for both short- and long-term disability, which somewhat declined for group life.
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