North American Life Insurance Industry Activity Declines 2.3% in July : MIB

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(Westwood, Mass. � August 13, 2004) Applications for life insurance in North America were off -2.3% in July year-over-year, marking the second straight month of a greater than 2% decline. With the exception of last January (-5.3%), 2004 year-over-year monthly Index activity has been stable, as evidenced by modest declines in the July 2004 year-to-date (YTD) figures: U.S., -1.5%; Canada, -0.2%.

According to the July MIB Life Indexsm, U.S. application activity was off -2.2% when compared to last year’s levels. Notably, the 60+ age group, previously on a 12 month growth streak until this past June, declined -5.8% in July versus prior year. However YTD, the 60+ demographic in the U.S. remained positive overall up +2.5%. The 45-59 age group declined -2.6%, and the 0-44 age group was off -1.3% compared to July 2003. June and July mark the only two months of 2004 where declines in the 45-59 age group, exceeded that of the 0-44 age group.

Canadian application activity in July declined -3.6% year-over-year, with YTD activity remaining flat at -0.2% versus the same seven months in 2003. Age 0-44 and 45-59 activity lagged July 2003 levels by -4.4% and -2.9% respectively. The 60+ age group posted a modest gain of +0.4%, marking its seventh consecutive monthly increase this year.

  Monthly Percent Change vs 2003
US Canada Total
July 2004 -2.2 -3.6 -2.3
June 2004 -3.1% +5.3% -2.1%
YTD 2004 -1.5% -0.2% -1.3%

  Monthly Percent Change vs Previous Month
US Canada Total
July 2004 -4.2% -11.9% -5.2%

About MIB Group, Inc.

MIB Group, Inc., headquartered in Westwood, Massachusetts, is the leading provider of database and information management tools to the global risk management community, and is a leading facilitator of electronic insurance commerce via dedicated networks and Internet-based systems. MIB member companies underwrite more than 95 percent of the premium dollars of individual life insurance written in the United States and Canada. More information about MIB Group, Inc. is available at