Swiss Re Group Volume Survey: MMI leads group risk market

The newly-released Swiss Re Group Volume Survey results for 2014 reveal that MMI Holdings is the leader in the group risk market by premium size.

With a premium size of 28%, MMI has shown a growth in volume of 17% from the previous year – This is well ahead of the market growth of 5%. This growth can be attributed to MMI’s continued focus solving for the financial wellness of it clients as well as the acquisition of the specialist cell captive insurance group, Guardrisk, which strengthens MMI’s comprehensive set of solutions and creates sustainable value for clients.

Highlighting the benefits of group life insurance in the risk space, Regard Budler, Managing Executive of Client Solutions at MMI Corporate and Public Sector, notes that “both employers and employees benefit from the economies of scale inherent in group arrangements leading to easier access to cover and lower premiums for employees. Moreover, employers can ensure a more productive and ultimately more profitable workforce through investing in the health and safety of their staff.”

“Translated into real terms, the survey results reflect MMI’s continued focus on the financial wellness of its clients as they have paid in excess of R3bn in claims to group risk beneficiaries over the last year.” says Budler.

“The results are also indicative of MMI’s dedication to maintaining an insight into client needs to ensure that our tailored and bundled solutions become an integral part of their risk management.”

The report analysed the results of the following lines of group business across seven companies:

• Life assurance (GLA), split by approved and unapproved business
• Funeral
• Disability lump sum, split by approved and unapproved business
• Critical illness (dread disease)
• Disability income
• Short-term disability income

“MMI has the highest premium volume in all these lines of group business lines except for life assurance,” says Budler, “reflecting our understanding across different clients and industries that gives us the ability to solve their specific financial wellness needs.”

About the survey

The Swiss Re Group Volume Survey is conducted annually and analyses broad group business indicators. Premiums given in the report are the total gross written premiums. In addition to the premium figures, this survey also considers sum insured, number of members and number of schemes as indicators of market size.