(Westwood, Mass. � September 16, 2004) Applications for life insurance in North America rose +1.1% in August year-over-year marking the largest one-month, year-over-year growth in all of 2004. Year-to-date activity for the U.S. and Canada is off -1.1% versus 2003 in what, so far, has been a relatively stable year.
For the U.S., the August, U.S. MIB Life Indexsm shows a +1.0% increase in application activity year-over-year, with year-to-date levels remaining negative at -1.2%. Growth year-over-year was observed across all three age groups: +0.7% for 0-44, +1.0% for 45-59 and +2.5% in the 60+ age group; a reversal from the last two months of prior declines.
Canadian application activity increased +1.8% year-over-year, with year-to-date activity statistically flat at -0.1%. Consistent with the U.S., all three age groups showed year-over-year growth: +1.8% for 0-44, +1.9% for 45-59 and +1.2% in the 60+ age group; marking its eighth consecutive monthly increase in 2004
| Monthly Percent Change vs 2003 | |||
| US | Canada | Total | |
| August 2004 | +1.0% | +1.8% | +1.1% |
| July 2004 | -2.2% | -3.6% | -2.3% |
| YTD 2004 | -1.2% | -0.1% | -1.1% |
| Monthly Percent Change vs Previous Month | |||
| US | Canada | Total | |
| August 2004 | +3.2% | -2.0% | +2.6% |
About MIB Group, Inc.
MIB Group, Inc., headquartered in Westwood, Massachusetts, is the leading provider of database and information management tools to the global risk management community, and is a leading facilitator of electronic insurance commerce via dedicated networks and Internet-based systems. MIB member companies underwrite more than 95 percent of the premium dollars of individual life insurance written in the United States and Canada. More information about MIB Group, Inc. is available at www.mib.com.
