Companies participating in the latest JHA survey report total earned premium on group term life policies reached just over $8.5 billion at mid-year 2009, up 3% over mid-year 2008.
Total group disability (short-term and long-term combined) earned premium totaled close to $6.7 billion for the same period, remaining about level with the first half of last year, reports JHA, Portland, Maine, a research, consulting and reinsurance services unit of General Re Life Corp., Stamford, Conn.
Long term disability earned premium was flat for those companies included in the survey, while there was a slight 1% increase in STD earned premium.
JHA says 29 carriers participated in its group life survey, representing about 75% of the group life market, while 27 carriers participated in the group disability survey, representing close to 95% of that market.
While the number of employers offering life or disability insurance was mixed by product, the number of insured employees declined compared to the same period last year, JHA says. The number of employees with life and LTD insurance fell 2%, while the number of insureds with STD dropped 3%.