U.S. group reinsurance assumed and group reinsurance in-force declined in 2005 over 2004, according to data culled by Munich American Reassurance Co., Atlanta, at the request of the Society of Actuaries, Schaumburg, Ill.
Total U.S. group reinsurance assumed declined to $41.1 billion in 2005, a 24.5% decline from $54.4 billion in 2004. The decline was largely accounted for by a decline in new group business reinsured. New business dropped to $36.1 billion in 2005 from $47.7 billion in 2004, a decline of 24.3%.
Group in-force business declined in 2005 to $166.6 billion from $177.7 billion in 2004, a 6.7% decline.
Canadian group reinsurance assumed increased to $22.2 billion in 2005, a 27% change from 2004′s $17.5 billion. New group reinsurance assumed grew to $17.7 billion in 2005, up from $14.8 billion in 2004, a 19% increase.
Canadian group reinsurance in-force grew to $173 billion in 2005, up from $168.5 billion in 2004, a change of 2.7%.