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CAST: COLI Market Growing Rapidly

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NU Online News Service, April 26, 1:55 p.m. – CAST Management Consultants Inc., Los Angeles, says total U.S. premium revenue from corporate-owned life insurance grew to $2.8 billion in 2001, from $1.5 billion in 2000.

The two-year growth rate for the large corporate COLI market was 60% for all cases, including “private placement” cases, and 25% for ordinary, non-private placement cases.

The growth rate for smaller, ordinary cases was 42%, CAST says.

The market for smaller businesses will continue to grow faster, because the smaller businesses are still setting up nonqualified deferred compensation plans for their executives and employees, CAST says.