According to our annual U.S. Voluntary/Worksite SalesReport, new business annualized premium (voluntary sales)increased again last year. Total sales for 2016 were $7.630billion, up almost 7 percent over 2015 sales. The graph at leftshows the industry's sales since 1997.

This grow rate is the highest realized since 2007 (although 2012came close) and stems primarily from increased productivity (sales)per broker, rather than simply new brokers entering the market.(Currently, 90 percent to 95 percent of all benefit brokers sellvoluntary.) The graph at bottom left shows the growth curve between2004 and 2016.

In terms of market share, the top five carriers for 2016 werethe same as in 2015, and include:

• Aflac (19 percent)

• MetLife (11 percent)

• Unum (7 percent)

• Colonial Life (6 percent)

• Allstate Benefits (5 percent)

This group had a total sales increase of 5 percent for 2016.

The top 15 companies accounted for approximately 75 percent oftotal voluntary/worksite sales in 2016, down slightly from 78percent in 2015. Among the top 15 companies, the average growthrate was 6.4 percent, which is slightly below the industry rate of6.9 percent. Five carriers among these top 15 had decreases, whilesix had double-digit increases.

Takeover business (i.e., business that moves from one voluntarycarrier to another with a similar product) stabilized somewhat in2016. The estimated percentage of sales that were takeovers (on anaggregated basis) was 53.6 percent, just slightly above 2015.

Inforce premium increased about 5.7 percent in 2016 to anestimated $41.0 billion. The graphic at bottom right shows theinforce sales numbers since 1997.

Look for our next column on voluntary sales results by productline and product platform.

The annual U.S. Voluntary/Worksite Sales Report includesdata from 1997 through 2016 and detailed results for 65 carriers.The report is available only to carriers participating in thesurvey. For more information about participating in next year'ssurvey, contact us at [email protected].