Canada faring well despite overall decline North American life insurance activity

The first four months of 2005 have seen consecutive declines application activity of individually underwritten life insurance in North America. April applications, according to the MIB Group Inc., mark the “third strike” and a decline of 5.0% year-over-year.
Year-to-date application activity in Canada is off 2.9% compared to 3.1% for North America and 3.2% for the U.S. However, Canada saw a slight increase in April of +0.7% year- over-year.
Compared to April 2004 levels, activity in the 0 to 44 group remained unchanged whereas ages 45 to 59 increased by +2.7%, and the 60+ age group declined -0.9%. March over April activity increased +7.2%, faring favourably compared to the same period in 2004 and 2003, experiencing declines of -1.0% and -0.6%, respectively.
The U.S. MIB Life Index(SM) declined -5.7% in April year-over-year for all ages combined. Notably, the trend line shows April 2004 application activity level with that seen in April 2003. April application activity in the U.S. when compared to the same period last year exhibited declines in all age groups -7.2%, -4.1% and -1.2% for age groups 0 to 44, 45 to 59 and 60+ respectively. Trends indicate U.S. April application activity has fallen from March.