Global Insurance

BRAINTREE, Mass., Feb. 10

Applications for individually underwritten life insurance in North American activity was down - 4.5% in January year-over-year. This is according to the MIB Life Index. The MIB Life Index is the life insurance industry's most up-to-date measure of individual applications activity throughout the United States and Canada. This report is released to the media each month. The bases of the Index is the number of searches performed by life member company underwriters on the MIB Checking Service database. In fact, in North America, a large majority of the individually underwritten life premium dollars includes a MIB search as part of their routine underwriting requirements. Because of this, the MIB Life Index serves as a practical means for estimating new business activity.

For the months of January through December of 2008, application activity was flat at +0.4%. During the previous two years for this same period, results have shown declines centered in the 3-4% range.

Considering the period from January 2008 to January 2009, United States application activity had dropped by - 4.3%. This is for all ages as a group. Looking at the same application activity data but by age group, we see declines in the age groups, 0-44 and 45-59, being off - 7.8%, and - 1.6%, respectively. However, the age group of ages 60+ showed ongoing and continued growth, and was up by +7.8% for the year-over-year period of January 2008 to January 2009. The data indicate that United States trends are staying consistent, with year-over-year activity for ages 0-44, losing ground for nearly three consecutive years while at the same time, the 60+ age group has shown a study increase since March of 2007. For January application activity was up by a + 1.5%. This was for all age groups when compared with the prior December. During the last two years this period has demonstrated declines.

Looking over at activity in Canada, in January considering year-over-year, application activity was down by - 6.5% for all age groups combined. In the age groups of 0 to 44 and 45 to 59, there was a decline in application activity of respectfully - 8.3% and - 4.4%, while ages 60+ was virtually flat at - 0.1%, year-over-year from January 2007 to January 2008. at the same time, consistent with current trends for this time of the year, January application activity was off -7.5% as compared to the prior December.

The year-over-year Monthly Percent Change for the United States and Canada and Total for January 2009 vs. January 2008 was - 4.3%, - 6.5% and - 4.5%.

December 2008 vs. December 2007 was - 9.3%, - 5.6% and - 8.9%

United States Canada Total January 2009 Monthly Percent Change vs. Previous Month was +1.5%, -7.5% and +0.4%