The results are in and the voluntary industry has recovered from its first ever decline. Eastbridge’s annual U.S. Worksite Sales Report for 2011 reveals that sales were up from 2010 by 4.5 percent. As in past years, this and the next two columns share some details on the sales results for 2011.
According to surveys completed by more than 60 carriers in the market, new voluntary sales (U.S.) totaled an estimated $5.478 billion, up from $5.243 billion in 2010 and even up from the $5,397 in 2009. As noted in the graph, sales are back on the traditional upward track.
Interestingly, a number of carriers—including some large ones—still experienced a decrease. Overall, however, more companies experienced increases than decreases this year.
Among the top 15 companies, just four experienced sales decreases. In total, the top 15 accounted for almost 81 percent of industry sales.
Inforce premium was also up this year—nearly 6 percent. For 2011, inforce worksite premium is estimated to be between $19.9 and $26.1 billion.
In our next column, we will review the results by product line and product platform.