|Title:||United States top 25 insurance companies ranked by group life issued in dollars and percent change for 2011|
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U.S. Life/Health-2011 Group Life Issued
Ranked by 2011 group life business issued.
2011 2010 Rank Rank Company/Group AMB#
X X Metropolitan Life & Affiliated Cos XXXXXX X X Prudential of America Group XXXXXX X X Securian Finl Group XXXXXX X X Cigna Group XXXXXX X X Unum Ins Group XXXXXX X X Hartford Life Group XXXXXX X X Standard Ins Group XXXXXX X X Lincoln Finl Group XXXXXX X XX Reliance Standard Life Group XXXXXX XX XX Sun Life Finl Group XXXXXX XX X Aetna Life Group XXXXXX XX XX UnitedHealth Group XXXXXX XX XX Guardian Life Group XXXXXX XX XX ING USA Life Group XXXXXX XX XX Mutual of Omaha Group XXXXXX XX XX Torchmark Cos XXXXXX XX XX Principal Life Group XXXXXX XX XX Liberty Life Assur Co of Boston XXXXXX XX XX New York Life Group XXXXXX XX XX Health Care Service Corp Life Group XXXXXX XX XX Assurant Inc Group XXXXXX XX XX AAA Life Group XXXXXX XX XX Life & Specialty Ventures Group XXXXXX XX XX WellPoint Group XXXXXX XX XX X Star Life Ins Co XXXXXX
Top XX Writers Total U.S. Life/Health Industry
Group Life % Company/Group Issued Change
Metropolitan Life & Affiliated Cos $XXX,XXX,XXX X.X Prudential of America Group XXX,XXX,XXX XX.X Securian Finl Group XX,XXX,XXX XX.X Cigna Group XX,XXX,XXX -X.X Unum Ins Group XX,XXX,XXX X.X Hartford Life Group XX,XXX,XXX -XX.X Standard Ins Group XX,XXX,XXX -XX.X Lincoln Finl Group XX,XXX,XXX -X.X Reliance Standard Life Group XX,XXX,XXX XX.X Sun Life Finl Group XX,XXX,XXX XX.X Aetna Life Group XX,XXX,XXX -XX.X UnitedHealth Group XX,XXX,XXX -X.X Guardian Life Group XX,XXX,XXX XX.X ING USA Life Group XX,XXX,XXX -X.X Mutual of Omaha Group XX,XXX,XXX -XX.X Torchmark Cos XX,XXX,XXX -X.X Principal Life Group XX,XXX,XXX XX.X Liberty Life Assur Co of Boston XX,XXX,XXX XX.X New York Life Group XX,XXX,XXX X.X Health Care Service Corp Life Group XX,XXX,XXX XX.X Assurant Inc Group XX,XXX,XXX X.X AAA Life Group X,XXX,XXX XX.X Life & Specialty Ventures Group X,XXX,XXX -XX.X WellPoint Group X,XXX,XXX -X.X X Star Life Ins Co X,XXX,XXX XX.X
Top XX Writers $X,XXX,XXX,XXX X.X Total U.S. Life/Health Industry $X,XXX,XXX,XXX X.X
Source: BestLink Statement File--L/H, US
Data as of: July XX, 2012
The face amount of life insurance policies issued rebounded during 2011 to a gain of X.X%, up from a decline of X% in 2010, according to an A.M. Best Co. life/ health statistical study.
Despite macroeconomic challenges last year, the industry on the whole sustained only modest investment impairments, and it maintained strong regulatory capital and favorable operating earnings, according to Andrew Edelsberg and Stephen Irwin, vice presidents in the Life/Health Division, in their 2012 Review/Preview special report.
On the plus side, some insurers have taken advantage of stability in some of the more distressed asset classes to pare their positions. But historically low interest rates have reduced investment income and caused other insurers to move down the credit scale in an effort to generate higher yields. In the special report, Edelsberg and Irwin said that this enhanced yield strategy carries some risk and will need to be monitored closely if economic conditions deteriorate.
In addition, there is worry that the European Union does not have the tools to fully cope with the sovereign debt crisis, they said.
The volatility in equity markets is also a continuing concern, particularly for insurers that have higher hedging costs in equity-sensitive products like variable annuities with guaranteed lifetime withdrawal benefits. Equity volatility also triggered reserve increases for equity-sensitive product lines, according to the report.
In response to the stresses, carriers have pursued a range of variable annuity strategies, from modest product tweaks to exiting the market. Others have curtailed or de-emphasized lines such as fixed annuities, banking, Medicare supplement, group medical and long-term care insurance.
Some key industry players, primarily the large mutuals, have benefited from emphasis on whole life insurance, which the report said has stable, long-term earnings that help companies' credit profiles.
In 2011, total life issued by face amount reached $X.XX trillion. Ordinary life issuance last year versus 2010 was effectively unchanged at $X.XX trillion, but the top XX writers' issuance was up X.X% to $X.XX trillion. Term life issuance fell by X.X% last year to $X.X trillion, an improvement from the XX.X% decline in 2010.
U.S. Life-2011 Ordinary Life Average Policy Size & Lapse Ratios
Ranked by 2011 ordinary life business.
Ordinary Life 2011 2010 Issued Rank Rank Company/Group AMB# ($XXX)
X X Metropolitan Life & XXXXXX $XXX,XXX,XXX Affiliated Cos X X Northwestern Mutual Group XXXXXX XXX,XXX,XXX ...