Among the top 15 companies in terms of voluntary/worksite sales, the average growth rate was 4.1%, which is slightly below the industry rate of 4.5%. (Photo: Shutterstock)

According to our annual U.S. Voluntary/Worksite Sales Report, new business annualized premium (voluntary sales) increased again last year. Total sales for 2019 were $8.832 billion, up 4.5% over 2018 sales. The top graph below shows the industry's sales since 1997.

Erin Marino and Nick Rockwell, Eastbridge Consulting Group, Inc.

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The growth rate was slightly higher compared to what we saw in 2018 (4.5% compared to 3.8%). The bottom graph shows the growth curve between 2004 and 2019.

In terms of market share, four of the top five carriers for 2019 were the same as in 2018. Guardian replaced Allstate Benefits in the top five list for 2019. The carriers include:

• Aflac (18%)
• MetLife (13%)
• Unum (6%)
• Colonial Life (6%)
• Guardian (4%)

The top 15 companies accounted for approximately 75% of total voluntary/worksite sales in 2019, down somewhat from 77% percent in 2018. Among the top 15 companies, the average growth rate was 4.1%, which is slightly below the industry rate of 4.5%. Six carriers among the top 15 had decreases, with two of them having double-digit decreases, while the rest had increases, with five having double-digit increases.