Stamford, CT, October 16, 2018 … Gen Re has released results of the U.S. Critical Illness Insurance Market Survey. This annual survey covers Traditional Individual and Group/Worksite Critical Illness (CI). The group/worksite segments (Issue Age and Attained Age products) account for the majority (85%) of sales.

Seventy‐five carriers participated in this year’s survey. Of those, 51 were actively selling a Critical Illness product; 16 were currently developing a CI product; and the remaining eight were exploring entry into the market. Participants reported $1.6 billion in CI in-force premium and over $652 million in new sales for 2017. All indicators suggest that the CI market remains in a period of healthy expansion:

• New carriers continue to enter the market.
• Existing carriers are adding new products.
• 64% of respondents plan to increase their focus on CI.
• Insurers expect to see annual sales growth of 22% – 38%.
• The majority of carriers are meeting or exceeding their expectations for sales, profitability, agent acceptance and consumer demand.
• 93% of carriers report claims matched or were better than their expectations.
   

The Market Survey is an annual survey produced by Gen Re, with the full results available only to participating companies.

________________________

Gen Re, a Berkshire Hathaway Company, is one of the leading life/health and property/casualty reinsurers in the world. Our North American life and health reinsurance company, General Re Life Corporation, has superior financial strength ratings among life and health reinsurers. Gen Re delivers tailor-made reinsurance programs and risk management solutions for the Life, AD&D, Medicare Supplement, Critical Illness and Disability markets. Through our research, we also offer valuable information and insights.