U.S. Life Insurance Activity Off Slightly in May Reports the MIB Life Index

Braintree, MA. (June 6, 2018) — U.S. life insurance application activity was marginally lower in May, year-over-year (Y/Y), off -1.0%, according to the MIB Life Index. Overall, the composite MIB Life Index has recovered considerably from its sharp -4.4% January Y/Y decline, but has yet to break out into positive territory for the year—YTD 2018 off -0.6%. In relative terms, the May 2018 YTD composite Index value is 99.66, on par with levels last seen for January-May 2015 at 99.76. May’s application activity was down -7.3% from that of April, exhibiting normal seasonal trends for this time period.

U.S. life insurance application activity only increased for the 60+ age group. Application activity ages 0-44 was off -1.7%, activity ages 45-59 was off -0.6%, and activity ages 60+ showed a slight increase at 0.4%, Y/Y. Year-to-date, application activity ages 0-44 age group is off -0.5%, activity ages 45-59 improved over April but remained off -1.3%, and activity ages 60+ is flat at 0.1%. While ages 0-44 led all others in Y/Y monthly growth in 2017, age group activity has converged in 2018 with no clear leader in monthly Y/Y percent change gains.

MIB’s CEO comments on the 2017 industry in our MIB Life Index Year-in-Review video (http://wi.st/2CejeJq). Download the 2017 MIB Life Index Annual Report at no charge by registering at the Enhanced Life Index Portal: www.mibsolutions.com/regLI or login at: https://portal.mibsolutions.com/lifeindex. Watch for our "At the Half" video analysis in early July.



1NOTE: March and April 2018 had one more and one less business day than usual, respectively due to Good Friday occurring in March this year instead of April. This anomaly caused March’s Y/Y and YTD percent change to be artificially high, and similarly April’s percent changes to be artificially low due to how business days impact the MIB Life Index calculations. Unadjusted percent changes appear here; the adjusted numbers for these months are published in their individual press releases: http://www.mibgroup.com/riskanalytics/archives.html.

Monthly Percent Change
Composite Index
(year-over-year)

May-18 -1.0%
Apr-18(1) -2.1%
Mar-18(1) 6.7%
Feb-18 -2.4%
Jan-18 -4.4%
Dec-17 1.0%
Nov-17 1.2%
YTD - 2018
YTD - 2017

-0.6%
-1.8%

Q1 - 2018
0.0%
Q4 - 2017
0.6%
Q3 - 2017
-1.6%
Q2 - 2017
-1.8%



U.S. Monthly Percent
Change
vs Prior Month


May

-7.3%


% Change
Age Groups
(year-over-year)




0-44



45-59



60+
May - 18
-1.7%
-0.6%
0.4%
Apr - 18(1)
-2.3%
-2.5%
-0.6%
Mar - 18(1)
6.8%
6.4%
7.0%
Feb - 18
-1.8%
-3.5%
-2.7%
Jan - 18
-3.7%
-6.3%
-3.6%
YTD 2017
-0.7%
-4.0%
-1.7%
Dec - 17
1.2%
0.6%
1.3%
Nov - 17
2.3%
-1.0%
0.9%
Oct - 17
1.4%
-2.6%
-1.7%


Monthly Percent Change
Composite Index
(year-over-year)

May-18 -1.0%
Apr-18(1) -2.1%
Mar-18(1) 6.7%
Feb-18 -2.4%
Jan-18 -4.4%
Dec-17 1.0%
Nov-17 1.2%
YTD - 2018
YTD - 2017

-0.6%
-1.8%

Q1 - 2018
0.0%
Q4 - 2017
0.6%
Q3 - 2017
-1.6%
Q2 - 2017
-1.8%

 


U.S. Monthly Percent
Change
vs Prior Month


May

-7.3%
% Change
Age Groups
(year-over-year)




0-44



45-59



60+
May - 18
-1.7%
-0.6%
0.4%
Apr - 18(1)
-2.3%
-2.5%
-0.6%
Mar - 18(1)
6.8%
6.4%
7.0%
Feb - 18
-1.8%
-3.5%
-2.7%
Jan - 18
-3.7%
-6.3%
-3.6%
YTD 2017
-0.7%
-4.0%
-1.7%
Dec - 17
1.2%
0.6%
1.3%
Nov - 17
2.3%
-1.0%
0.9%

 

 

 

 

 

 

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