Two updated indices that track activity in life insurance and life settlement provided no encouragement for improvement in insurance related markets.
MIB (Medical Information Bureau) released February activity numbers yesterday, and the positive trend we saw in January was no where to be seen in the "flat" numbers reflected last month. The month was noted to be "off" -0.2% - all ages combined. One area that still shows promise for future growth is insurance applications on those over the age of 60-an age group that has historically reflected double digit growth over the past 13 months. February is a lower month of production historically so there is hope that moving into 2nd Q we could see moderate increases.
Amrita's Life Settlement Index also released February numbers reflecting a 73 point decline in transactions over January. The indication is that it is related to the policies in the market outpacing the funding to purchase and tightened provider buying perameters. As an LE provider in the space, the trend of lower production in life insurance seems to mirror life settlement as we have historically noted reduced case flow numbers in the first and early 2nd Q.
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