Life insurance activity in North America fell 5.4% in June compared with the year earlier, according to the MIB Life Index released Friday.
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North American applications for individually underwritten life insurance fell the most they have in four consecutive years of June declines, according to the index, which is prepared by a Westwood, Mass., research company that tracks the industry.
The June slippage from 2002 through 2006 has averaged 3.3%. For the year through June 30, U.S. and Canadian application activity fell 2.9% from the first six months of 2005. The May decline was 2.4%.
U.S. application activity fell 5.7% in June, and Canadian activity declined 3.4%.
