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The Hot List: Top Group Disability Insurers


The group disability insurance market is mature and marked by slow, steady growth. The industry is dominated by three carriers that held 47.9 percent of long-term disability market share and 44.1 percent of short-term disability market share at midyear 2006, according to JHA, an industry reinsurance, research and consulting firm.

The top 30 carriers account for more than 95 percent of in-force premiums of more than $11 billion, led by UnumProvident with more than 20 percent market share. Group disability insurance sales fell 11 percent from midyear 2005 to midyear 2006, according to JHA. Total earned premium in midyear 2006 rose 5 percent from midyear 2005. Average premium per life for new sales in 2005 was $217 for LTD and $193 for STD coverage, up 6 percent or both plans from the previous year. Thirty-nine percent of private-industry workers are covered by STD benefits and 30 percent are covered by LTD benefits, according to the Bureau of Labor Statistics.

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