This is the last in our series of columns on voluntary marketsales results for 2016. The first article looked at overallvoluntary sales for the year, while the second reviewed sales byproduct and platform. This article spotlights sales by distributionsegment.

Total voluntary sales (new business annualized premium) for 2016were $7.630 billion, up almost 7 percent over 2015 sales. Benefitbrokers continued to lead the way, generating $4.75 billion in newsales in 2016. This accounted for 62 percent of all voluntary saleslast year, up from 42 percent just 10 years ago. Career agentsagain had the second highest sales, at $1.17 billion. Voluntarybrokers (classic worksite brokers and worksite specialists)accounted for $879 million and $658 million in salesrespectively.

Again this year, benefit brokers were the only segment tosignificantly increase sales on a year-over-year basis. Careeragents were up slightly, while the others were down somewhat.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.