Gen Re: Individual Disability Issuers Post Mixed Results

June 24, 2020 | By Allison Bell – ThinkAdvisor

Both non-can and guaranteed renewable in-force premium increased.

Individual disability insurance issuers may have covered slightly fewer people in 2019, but their in-force premium revenue may have increased slightly.

Gen Re has reported figures supporting those conclusions in a summary of results from a voluntary issuer survey. Gen Re received data from 16 insurers.

The participants covered about 3 million people through in-force policies last year, or 1.1% fewer than in 2018, according to the Gen Re survey results.

Premium revenue from individual disability insurance policies already in force increased 0.7%, to $4.9 billion.

A summary of the Gen Re individual disability market survey is available here.

The number of new policies sold fell 5.9%, to 275,599, but premiums from the new policies that were sold increased 0.7%, to $426 million.

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