A strong December for life insurance policy sales helped the industry end 2011 with a slight sales gain for the year, according to MIB Group Inc., an association of North American insurance companies.
The MIB Life Index was up two-tenths of a percent to end the year. December application activity pushed the year to a gain with a 5.8 percent jump.
The index is down four percent since 2007, but the pace of decline has lessened and is being taken as a sign for optimism, MIB CEO Lee Oliphant said in a statement.
“We believe market stability in challenging economic conditions may signal a new floor from which the industry can grow,” he said.
