|Title:||United States top 25 insurance companies ranked by ordinary life issued in dollars and percent change for 2011|
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U.S. Life/Health-2011 Ordinary Life Issued
Ranked by 2011 ordinary life business issued.
2011 2010 Rank Rank Company/Group AMB#
X X Metropolitan Life & Affiliated Cos XXXXXX X X Northwestern Mutual Group XXXXXX X X ING USA Life Group XXXXXX X X New York Life Group XXXXXX X X State Farm Life Group XXXXXX X X Primerica Group XXXXXX X XX Legal & Gen America Group XXXXXX X X Genworth Finl Group XXXXXX X X Aegon USA Group XXXXXX XX XX SunAmerica Financial Group XXXXXX XX X Prudential of America Group XXXXXX XX XX Axa Finl Group XXXXXX XX XX Lincoln Finl Group XXXXXX XX XX Allstate Finl Cos XXXXXX XX XX MassMutual Finl Group XXXXXX XX XX Aflac Inc Group XXXXXX XX XX Manulife Finl Life Group XXXXXX XX XX USAA Life Group XXXXXX XX XX Guardian Life Group XXXXXX XX XX Torchmark Cos XXXXXX XX XX Farmers New World Life Ins Co XXXXXX XX XX Hartford Life Group XXXXXX XX XX Principal Life Group XXXXXX XX XX Securian Finl Group XXXXXX XX XX Protective Life Group XXXXXX Top XX Writers Total U.S. Life/Health Industry
Ordinary Life % Company/Group Issued Change
Metropolitan Life & Affiliated Cos $XXX,XXX,XXX X.X Northwestern Mutual Group XXX,XXX,XXX X.X ING USA Life Group XXX,XXX,XXX XX.X New York Life Group XX,XXX,XXX X.X State Farm Life Group XX,XXX,XXX -X.X Primerica Group XX,XXX,XXX -X.X Legal & Gen America Group XX,XXX,XXX XX.X Genworth Finl Group XX,XXX,XXX X.X Aegon USA Group XX,XXX,XXX -XX.X SunAmerica Financial Group XX,XXX,XXX XX.X Prudential of America Group XX,XXX,XXX -X.X Axa Finl Group XX,XXX,XXX -X.X Lincoln Finl Group XX,XXX,XXX -XX.X Allstate Finl Cos XX,XXX,XXX X.X MassMutual Finl Group XX,XXX,XXX X.X Aflac Inc Group XX,XXX,XXX XX.X Manulife Finl Life Group XX,XXX,XXX -XX.X USAA Life Group XX,XXX,XXX X.X Guardian Life Group XX,XXX,XXX X.X Torchmark Cos XX,XXX,XXX -X.X Farmers New World Life Ins Co XX,XXX,XXX -X.X Hartford Life Group XX,XXX,XXX X.X Principal Life Group XX,XXX,XXX XX.X Securian Finl Group XX,XXX,XXX -X.X Protective Life Group XX,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 X X ING USA Life Group XXXXXX XXX,XXX,XXX ...