Minnesota Life Group Claims Double Digit Premium Growth in 2005

For the eighth consecutive year, Minnesota Life Group Insurance premium and policy fee income increased by double digits, according to a written statement issued by the St. Paul-based company.

The growth rate in 2005 was 14 percent, resulting in a compounded annual growth rate of 16 percent for the last three years and 18 percent for the last five years.

“Our growth is based not only on new sales, but also on our industry-
leading retention of existing business,” said James E. Johnson, executive vice president, Minnesota Life Group Insurance. In 2005, the company sold new plans to 21 Fortune 1000-sized organizations and retained 99 per cent of its existing group life business.

Minnesota Life Group Insurance, an affiliate of Securian Financial
Group, Inc., is one of the fastest-growing group life insurers in the
nation, rising from sixteenth largest in 1997 to sixth largest in 2004,
according to A.M. Best. The 2005 rankings will be issued in August.

The company is known for its ability to customize plans for large
employers, using web-based technology that enables employees to manage their group life benefits themselves. In 2005, the company added several new features to its self-service site, including: on-line quotations; on-line underwriting exam scheduling: email notification of underwriting status; and single sign-on allowing employees to go directly to their benefits information by entering only one password and ID at their employers’ benefits web site.

For more information about web-based services offered by Minnesota Life Group Insurance, visit httpwww.lifebenefits.com

Source: Minnesota Life Group Insurance

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