Checking it out: still stinging from the Enron and WorldCom debacles, insurers are investigating board members and executives before investing in the companies they lead. (Industry Strategies: Asset Distribution).After being hit in the past few quarters with net losses related to underperforming portfolios and exposure to the alleged accounting fraud of companies such as WorldCom The former name of MCI. Based in Jackson, MS, WorldCom, Inc. was a major, international telecommunications carrier. It was founded in 1983 by Bernard Ebbers as Long Distance Discount Service (LDDS), a reseller of AT&T WATS lines to small businesses. Inc., insurers are scrutinizing carefully the backgrounds of the boards and management of companies that are potential investments. This type of intense review had not been as important, since credit losses were previously driven by more fundamental company or industry issues, said Tom Watjen, vice chairman and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of UnumProvident Corp. Watjen and other industry experts recalled similar reactions in the past from the fallout fallout, minute particles of radioactive material produced by nuclear explosions (see atomic bomb; hydrogen bomb; Chernobyl) or by discharge from nuclear-power or atomic installations and scattered throughout the earth's atmosphere by winds and convection currents. of real-estate investments in the late 1980s and early 1990s. Insurers at that time shed shed rural building used for agricultural pursuits. shed hands miscellaneous workers in a shearing shed at shearing time, i.e. persons other than the shearers, wool classers. real-estate holdings to dodge the fate of Mutual Benefit Life Insurance Co., which caved in under liabilities of $1 billion caused by a high concentration of real-estate-related assets. The insurance industry has $8 billion of exposure to the corporate bonds it holds for WorldCom and $4.9 billion of exposure to its Enron Enron A U.S. energy-trading and utilities company that housed one of the biggest accounting frauds in history. Enron's executives employed accounting practices that falsely inflated the company's revenues, which, at the height of the scandal, made the firm become the seventh Corp. holdings, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. A.M. Best Co. Even though A.M. Best life insurance analysts believe the majority of the industry has pursued conservative strategies--such as diversifying asset portfolios by issuer, industry and geographic geographic /geo·graph·ic/ (je?o-graf´ik) in pathology, of or referring to a pattern that is well demarcated, resembling outlines on a map. geographic pertaining to geography. region--they are concerned that a number have introduced increased risk to their balance sheets. A.M. Best analysts will be keeping their eyes on certain trends, including companies "chasing yield" to seek higher returns from riskier and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. less liquid asset classes; investing too heavily in particular asset classes such as technology, and investing in risky asset Risky asset An asset whose future return is uncertain. classes with exposures that are too high relative to the capital size of the company. A recent Tillinghast-Towers Perrin General Perrin may refer to:
Custom Strategies Excess-and-surplus lines writer Markel Markel Corporation is an insurance holding company. Never declaring a stock split, their stock has risen from $8.33 per share in its 1986 IPO to over $475 a share in 2007. Corp., along with other insurers, had no exposure because it adhered to its conservative investment policy, said company CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. Tom Gayner. "We were country when country wasn't was·n't Contraction of was not. wasn't was not wasn't be cool. We were always this way and remain disciplined and controlled in what we invest in," Gayner said in describing Markel's philosophy to stick to plain-vanilla plain-vanilla Of or relating to the uncomplicated version of a particular type of security. For example, a plain-vanilla derivative is typically exchange-traded and void of bells and whistles. , fixed-income equities and opportunities that include real-estate investment trusts to manage its $3.5 billion investment portfolio. Gayner said he is naturally skeptical when assessing potential investments. "We look to see if a company offers too high of an option package to its CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and outlandish out·land·ish adj. 1. Conspicuously unconventional; bizarre. See Synonyms at strange. 2. Strikingly unfamiliar. 3. Located far from civilized areas. 4. Archaic Of foreign origin; not native. situations to attempt to keep the stock price up. Things too good to be true usually are," Gayner said. The downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. is "confidence shaking shaking, n massage technique of holding and loosely, rhythmically moving a muscle mass or area of the body. Also called rhythmic mobilization. ," said Principal Financial Group Inc.'s CIO, Julia Julia, feminine name in the Julian gens. 1 Died 54 B.C., daughter of Julius Caesar and wife of Pompey. By her grace and tact she maintained the bond between her father and her husband. After her death the two statesmen became open enemies. Lawler Lawler can refer to: People
Contraction of we are. we're we are spending more time underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. a company's management and investigating how a company grew, whether internally or through acquisitions," Lawler said. Joe Henry, chief operating officer of Meadowbrook Meadowbrook is the name, or part of the name, of several places in the United States:
adj indicates that a condition permeates the entire development of the individual. issue. It's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have the matter of a couple of rogue Rogue, river, c.200 mi (320 km) long, rising in SW Oreg., in the Cascade Range N of Crater Lake. It flows southwest and west through a fertile valley (noted for its orchard fruits) and then across the Coast Range to the Pacific Ocean at Gold Beach. individuals; it's not true of the vast majority of U.S. companies. But having said that, you don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. want to have too much exposure to one company." After taking a $55.9 million capital loss to its $27 billion of invested assets in the second quarter from its telecom investments, UnumProvident said it's more focused on attempting to anticipate problems. The disability insurer's COO (Cell Of Origin) See mobile positioning. said alleged fraud will continue to be hard to discover in normal due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . UnumProvident is increasing its emphasis on credit research. "We had a piece of probably the 10 most frequently talked about credits. They made up about 1.1% of our securities. We have not changed our investment strategy, but we are certainly increasing the emphasis on credit quality," Watjen said. MONY MONY Mutual of New York (Insurance - Syracuse, NY) Group Inc. also expects no change to its diversified diversified (di·verˑ·s investment approach. The 42nd-largest U.S. life insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. by admitted assets, according to A.M. Best Co., took a $16 million write-down Write-Down Reducing the book value of an asset because it is overvalued compared to the market value. Notes: This is usually reflected in the company's income statement as an expense, thereby reducing net income. in the second quarter from its exposure to WorldCom on its $10 billion portfolio. But MONY's CIO, Ken Levine
Ken Levine is a founding member of, and lead designer at 2K Boston, formerly known as Irrational Games. He previously worked at Looking Glass Studios, which he joined in 1995. , said when it comes to fraud, it's difficult to underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue. The word underwrite has two meanings. the investment risk, especially since companies such as Enron were once hailed in the business press as good investments and as some of the most admired ad·mire v. ad·mired, ad·mir·ing, ad·mires v.tr. 1. To regard with pleasure, wonder, and approval. 2. To have a high opinion of; esteem or respect. 3. companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . As the company has always done, if MONY board members have an expertise in certain industries, MONY might contact them regarding potential investments in those industries. MONY also continues to look closely at the managements and boards of the companies with which it invests, Levine Le·vine , James Lawrence Born 1943. American pianist and conductor. He began his career with the Metropolitan Opera as principal conductor in 1973 and has since served as both music and artistic director. said. "We've we've Contraction of we have. we've have chosen not to invest based on input we've received," he said. Assessing the Economy The uncertainty of the U.S. economy is also affecting insurers' investment strategies. Last year Meadowbrook divested its small equity exposure. Now, the company's strategy is to mainly invest in high-quality and mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. , such as Fannie Maes Fannie Mae: see Federal National Mortgage Association. and Ginnie Maes Ginnie Mae: see Federal National Mortgage Association. . Henry said the change came about because Meadowbrook was raising additional capital and didn't did·n't Contraction of did not. didn't did not didn't do want investors to be concerned about the balance sheet. "We wanted sleep insurance. We didn't want to wonder which corporate bonds might blow up on us going forward," he said. Meadowbrook has limited its investment exposure to any one company at $1 million and changed from conducting a quarterly analysis of its investments to monthly, Henry said. The company also hired a manager who works with the company's long-standing long-stand·ing adj. Of long duration or existence: a long-standing friendship. long-standing Adjective existing for a long time investment committee to oversee the performance of investments. The committee, composed of independent directors and senior management, monitors the company's portfolio. "The manager reviews our investment policy and makes sure we're following best practices and evaluating whether a security is a temporary loss or could be a permanent problem," Henry said. The current uncertain economy also is drying up the number of available long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. corporate bonds that are the main entree of some insurers that are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a conservative, yet high-yielding investment. Because of the need for increased financial reporting and Securities and Exchange Commission certification from chief executive officers, companies are hesitant hes·i·tant adj. Inclined or tending to hesitate. hes  i·tant·ly adv. to do financing that requires public
exposure. Lehman Lehman is a common Germanic surname derived from the German word Lehen, meaning fiefdom. It may refer to: Surnames
BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . reported through the end of July July: see month. , $280.6 billion of investment-grade investment-grade Of, relating to, or being a bond suitable for purchase by institutions under the prudent man rule. Investment-grade is restricted to those bonds graded BBB and above by Standard & Poor's and graded Baa3 and above by Moody's. corporate bonds had been issued, compared with $379.2 billion for the same period in 2001. This has created added challenges for companies, such as UnumProvident, who are turning to investment bankers Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. to generate secondary market investment opportunities to replace the lack of new issue investments. This uncertainty is reflected in how insurers are looking at potential investments, especially the ones that are questionable. "When viewing a potential private placement, you're you're Contraction of you are. you're you are you're be looking at a fortune of things to decide whether to do it or not. When all is said and done, if we're on the fence fence [short for defense], humanly erected barrier between two divisions of land, used to mark a legal or other boundary, to keep animals or people in or out, and sometimes as an ornament. In newly settled lands fences are usually made of materials at hand, e.g. about a deal now, we'll we'll Contraction of we will. we'll we will or we shall we'll will ~shall pass," MONY's Levine said.
Asset Distribution, Top Property/Casualty Writers--2001
Rank is based on total 2001 admitted assets.
($ Millions)
Non-
Rank affiliated
2001 Company/Group AMB # Bonds
1 State Farm Group 00088 $36,942
2 Berkshire Hathaway Ins Group 00811 21,737
3 American International Group Inc 18540 21,115
4 Allstate Ins Group 00008 24,513
5 Travelers/Citigroup Cos 18358 25,712
6 CNA Ins Cos 18313 18,344
7 Liberty Mutual Ins Cos 00060 17,235
8 Zurich/Farmers Group 18549 17,440
9 Nationwide Group 05987 11,612
10 Hartford Ins Group 00048 14,418
11 St Paul Cos 00080 13,599
12 GE Global Ins Group 18572 10,017
13 Chubb Group of Ins Cos 00012 13,101
14 Allianz of America Inc 18429 8,323
15 USAA Group 04080 5,460
16 Munich Reinsurance Group 04236 7,687
17 White Mountains Ins Group 18490 5,935
18 Swiss Reinsurance Group 03262 7,185
19 Progressive Ins Group 00780 5,031
20 Safeco Ins Cos 00078 6,065
21 Royal & SunAlliance USA 18371 4,905
22 State Comp Ins Fund of Calif 04028 7,899
23 Fairfax Financial (US) Group 03116 5,785
24 Ace INA Group 18498 4,424
25 Kember Ins Cos 04427 5,067
Total U.S. P/C Stock Cos $343,329
Total U.S. P/C Mutual Cos $134,980
Total U.S. P/C Lloyds Cos $501
Total U.S. P/C Reciprocal Cos $35,325
Total U.S. P/C State Fund $15,532
Total U.S. P/C Agency Cos $256,346
Total U.S. P/C Direct Writers $273,322
Total U.S. P/C Industry $529,668
Non-
affiliated
Rank % of Common
2001 Company/Group Assets Stocks
1 State Farm Group 41.8 $34,779
2 Berkshire Hathaway Ins Group 29.6 23,559
3 American International Group Inc 40.3 2,469
4 Allstate Ins Group 62.4 4,139
5 Travelers/Citigroup Cos 67.4 183
6 CNA Ins Cos 56.5 919
7 Liberty Mutual Ins Cos 55.8 1,869
8 Zurich/Farmers Group 57.6 2,301
9 Nationwide Group 47.8 3,529
10 Hartford Ins Group 60.1 713
11 St Paul Cos 60.2 1,008
12 GE Global Ins Group 53.1 149
13 Chubb Group of Ins Cos 71.9 178
14 Allianz of America Inc 55.7 1,922
15 USAA Group 39.9 2,176
16 Munich Reinsurance Group 63.2 612
17 White Mountains Ins Group 52.6 174
18 Swiss Reinsurance Group 68.3 845
19 Progressive Ins Group 48.4 1,019
20 Safeco Ins Cos 62.8 1,371
21 Royal & SunAlliance USA 50.9 1,049
22 State Comp Ins Fund of Calif 82.7 505
23 Fairfax Financial (US) Group 61.4 360
24 Ace INA Group 48.8 143
25 Kember Ins Cos 57.1 34
Total U.S. P/C Stock Cos 55.1 $55,582
Total U.S. P/C Mutual Cos 51.8 $56,467
Total U.S. P/C Lloyds Cos 70.8 $10
Total U.S. P/C Reciprocal Cos 51.6 $9,660
Total U.S. P/C State Fund 77.4 $1,858
Total U.S. P/C Agency Cos 55.6 $32,982
Total U.S. P/C Direct Writers 53.4 $90,595
Total U.S. P/C Industry 54.5 $123,577
Non-
affiliated
Rank % of Preferred
2001 Company/Group Assets Stocks
1 State Farm Group 39.4 $57
2 Berkshire Hathaway Ins Group 32.1 919
3 American International Group Inc 4.7 1,004
4 Allstate Ins Group 10.5 357
5 Travelers/Citigroup Cos 0.5 1,179
6 CNA Ins Cos 2.8 336
7 Liberty Mutual Ins Cos 6.1 224
8 Zurich/Farmers Group 7.6 52
9 Nationwide Group 14.5 95
10 Hartford Ins Group 3.0 266
11 St Paul Cos 4.5 35
12 GE Global Ins Group 0.8 67
13 Chubb Group of Ins Cos 1.0 41
14 Allianz of America Inc 12.9 25
15 USAA Group 15.9 -
16 Munich Reinsurance Group 5.1 73
17 White Mountains Ins Group 1.5 202
18 Swiss Reinsurance Group 8.0 -
19 Progressive Ins Group 9.8 312
20 Safeco Ins Cos 14.2 178
21 Royal & SunAlliance USA 10.9 151
22 State Comp Ins Fund of Calif 5.3 -
23 Fairfax Financial (US) Group 3.8 -
24 Ace INA Group 1.6 22
25 Kember Ins Cos 0.4 51
Total U.S. P/C Stock Cos 8.9 $8,422
Total U.S. P/C Mutual Cos 21.7 $1,081
Total U.S. P/C Lloyds Cos 1.4 -
Total U.S. P/C Reciprocal Cos 14.1 $631
Total U.S. P/C State Fund 9.3 $68
Total U.S. P/C Agency Cos 7.2 $6,879
Total U.S. P/C Direct Writers 17.7 $3,323
Total U.S. P/C Industry 12.7 $10,203
Affiliated
Rank % of Bonds &
2001 Company/Group Assets Stocks
1 State Farm Group 0.1 $4,284
2 Berkshire Hathaway Ins Group 1.3 1,879
3 American International Group Inc 1.9 5,887
4 Allstate Ins Group 0.9 2,783
5 Travelers/Citigroup Cos 3.1 699
6 CNA Ins Cos 1.0 2,678
7 Liberty Mutual Ins Cos 0.7 2,167
8 Zurich/Farmers Group 0.2 425
9 Nationwide Group 0.4 3,778
10 Hartford Ins Group 1.1 2,436
11 St Paul Cos 0.2 576
12 GE Global Ins Group 0.4 3,163
13 Chubb Group of Ins Cos 0.2 867
14 Allianz of America Inc 0.2 1,351
15 USAA Group - 2,052
16 Munich Reinsurance Group 0.6 3
17 White Mountains Ins Group 1.8 270
18 Swiss Reinsurance Group - 2
19 Progressive Ins Group 3.0 362
20 Safeco Ins Cos 1.8 21
21 Royal & SunAlliance USA 1.6 152
22 State Comp Ins Fund of Calif - -
23 Fairfax Financial (US) Group - 134
24 Ace INA Group 0.2 88
25 Kember Ins Cos 0.6 114
Total U.S. P/C Stock Cos 1.4 $27,729
Total U.S. P/C Mutual Cos 0.4 $13,772
Total U.S. P/C Lloyds Cos 0.0 $5
Total U.S. P/C Reciprocal Cos 0.9 $2,676
Total U.S. P/C State Fund 0.3 $6
Total U.S. P/C Agency Cos 1.5 $19,654
Total U.S. P/C Direct Writers 0.6 $24,533
Total U.S. P/C Industry 1.0 $44,188
Mortgages
Rank % of & Invested
2001 Company/Group Assets Real Estate
1 State Farm Group 4.8 -
2 Berkshire Hathaway Ins Group 2.6 -
3 American International Group Inc 11.2 $10
4 Allstate Ins Group 7.1 123
5 Travelers/Citigroup Cos 1.8 277
6 CNA Ins Cos 8.3 18
7 Liberty Mutual Ins Cos 7.0 -
8 Zurich/Farmers Group 1.4 24
9 Nationwide Group 15.6 348
10 Hartford Ins Group 10.2 56
11 St Paul Cos 2.6 128
12 GE Global Ins Group 16.8 -
13 Chubb Group of Ins Cos 4.8 -
14 Allianz of America Inc 9.0 -
15 USAA Group 15.0 -
16 Munich Reinsurance Group 0.0 -
17 White Mountains Ins Group 2.4 1
18 Swiss Reinsurance Group 0.0 7
19 Progressive Ins Group 3.5 -
20 Safeco Ins Cos 0.2 15
21 Royal & SunAlliance USA 1.6 155
22 State Comp Ins Fund of Calif - -
23 Fairfax Financial (US) Group 1.4 -
24 Ace INA Group 1.0 1
25 Kember Ins Cos 1.3 76
Total U.S. P/C Stock Cos 4.5 $1,234
Total U.S. P/C Mutual Cos 5.3 $577
Total U.S. P/C Lloyds Cos 0.7 $16
Total U.S. P/C Reciprocal Cos 3.9 $50
Total U.S. P/C State Fund 0.0 $155
Total U.S. P/C Agency Cos 4.3 $1,170
Total U.S. P/C Direct Writers 4.8 $862
Total U.S. P/C Industry 4.5 $2,032
Cash &
Rank % of Short-Term
2001 Company/Group Assets Investments
1 State Farm Group - $490
2 Berkshire Hathaway Ins Group - 3,962
3 American International Group Inc 0.0 747
4 Allstate Ins Group 0.3 264
5 Travelers/Citigroup Cos 0.7 2,191
6 CNA Ins Cos 0.1 2,236
7 Liberty Mutual Ins Cos - 1,492
8 Zurich/Farmers Group 0.1 1,398
9 Nationwide Group 1.4 243
10 Hartford Ins Group 0.2 702
11 St Paul Cos 0.6 997
12 GE Global Ins Group - 1,653
13 Chubb Group of Ins Cos - 506
14 Allianz of America Inc - -139
15 USAA Group - 161
16 Munich Reinsurance Group - 747
17 White Mountains Ins Group 0.0 2,326
18 Swiss Reinsurance Group 0.1 458
19 Progressive Ins Group - 38
20 Safeco Ins Cos 0.2 410
21 Royal & SunAlliance USA 1.6 533
22 State Comp Ins Fund of Calif - 562
23 Fairfax Financial (US) Group - 884
24 Ace INA Group 0.0 484
25 Kember Ins Cos 0.9 348
Total U.S. P/C Stock Cos 0.2 $33,672
Total U.S. P/C Mutual Cos 0.2 $7,038
Total U.S. P/C Lloyds Cos 2.2 $85
Total U.S. P/C Reciprocal Cos 0.1 $2,476
Total U.S. P/C State Fund 0.8 $1,059
Total U.S. P/C Agency Cos 0.3 $24,891
Total U.S. P/C Direct Writers 0.2 $19,439
Total U.S. P/C Industry 0.2 $44,330
Other
Rank % of Invested % of
2001 Company/Group Assets Assets Assets
1 State Farm Group 0.6 $3,268 3.7
2 Berkshire Hathaway Ins Group 5.4 14,410 19.6
3 American International Group Inc 1.4 5,119 9.8
4 Allstate Ins Group 0.7 1,416 3.6
5 Travelers/Citigroup Cos 5.7 2,413 6.3
6 CNA Ins Cos 6.9 2,310 7.1
7 Liberty Mutual Ins Cos 4.8 1,235 4.0
8 Zurich/Farmers Group 4.6 529 1.7
9 Nationwide Group 1.0 1,375 5.7
10 Hartford Ins Group 2.9 1,090 4.5
11 St Paul Cos 4.4 1,648 7.3
12 GE Global Ins Group 8.8 392 2.1
13 Chubb Group of Ins Cos 2.8 640 3.5
14 Allianz of America Inc -0.9 404 2.7
15 USAA Group 1.2 2,192 16.0
16 Munich Reinsurance Group 6.1 263 2.2
17 White Mountains Ins Group 20.6 379 3.4
18 Swiss Reinsurance Group 4.4 75 0.7
19 Progressive Ins Group 0.4 421 4.1
20 Safeco Ins Cos 4.2 193 2.0
21 Royal & SunAlliance USA 5.5 205 2.1
22 State Comp Ins Fund of Calif 5.9 305 3.2
23 Fairfax Financial (US) Group 9.4 437 4.6
24 Ace INA Group 5.3 175 1.9
25 Kember Ins Cos 3.9 463 5.2
Total U.S. P/C Stock Cos 5.4 $38,415 6.2
Total U.S. P/C Mutual Cos 2.7 $10,467 4.0
Total U.S. P/C Lloyds Cos 12.0 $16 2.3
Total U.S. P/C Reciprocal Cos 3.6 $4,032 5.9
Total U.S. P/C State Fund 5.3 $565 2.8
Total U.S. P/C Agency Cos 5.4 $22,133 4.8
Total U.S. P/C Direct Writers 3.8 $31,362 6.1
Total U.S. P/C Industry 4.6 $53,495 5.5
Total
Rank Invested % of
2001 Company/Group Assets Assets
1 State Farm Group $79,820 90.3
2 Berkshire Hathaway Ins Group 66,465 90.6
3 American International Group Inc 36,349 69.3
4 Allstate Ins Group 33,596 85.5
5 Travelers/Citigroup Cos 32,654 85.6
6 CNA Ins Cos 26,842 82.7
7 Liberty Mutual Ins Cos 24,221 78.4
8 Zurich/Farmers Group 22,169 73.2
9 Nationwide Group 20,981 86.4
10 Hartford Ins Group 19,682 82.0
11 St Paul Cos 17,991 79.7
12 GE Global Ins Group 15,442 81.8
13 Chubb Group of Ins Cos 15,333 84.2
14 Allianz of America Inc 11,887 79.6
15 USAA Group 12,041 87.9
16 Munich Reinsurance Group 9,387 77.2
17 White Mountains Ins Group 9,287 82.4
18 Swiss Reinsurance Group 8,572 81.4
19 Progressive Ins Group 7,182 69.1
20 Safeco Ins Cos 8,254 85.5
21 Royal & SunAlliance USA 7,151 74.1
22 State Comp Ins Fund of Calif 9,271 97.1
23 Fairfax Financial (US) Group 7,600 80.7
24 Ace INA Group 5,337 58.9
25 Kember Ins Cos 6,152 69.3
Total U.S. P/C Stock Cos $508,384 81.6
Total U.S. P/C Mutual Cos $224,383 86.1
Total U.S. P/C Lloyds Cos $633 89.4
Total U.S. P/C Reciprocal Cos $54,849 80.1
Total U.S. P/C State Fund $19,244 96.0
Total U.S. P/C Agency Cos $364,055 78.9
Total U.S. P/C Direct Writers $443,438 86.7
Total U.S. P/C Industry $807,492 83.0
Agents'
Rank Balances % of
2001 Company/Group Collected Assets
1 State Farm Group $666 0.8
2 Berkshire Hathaway Ins Group 1,436 2.0
3 American International Group Inc 1,861 3.5
4 Allstate Ins Group 807 2.1
5 Travelers/Citigroup Cos 750 2.0
6 CNA Ins Cos 1,606 5.0
7 Liberty Mutual Ins Cos 1,151 3.7
8 Zurich/Farmers Group 2,428 8.0
9 Nationwide Group 346 1.4
10 Hartford Ins Group 726 3.0
11 St Paul Cos 1,115 4.9
12 GE Global Ins Group 1,446 7.7
13 Chubb Group of Ins Cos 1,236 6.8
14 Allianz of America Inc 643 4.3
15 USAA Group 246 1.8
16 Munich Reinsurance Group 439 3.6
17 White Mountains Ins Group 93 0.8
18 Swiss Reinsurance Group 55 0.5
19 Progressive Ins Group 181 1.7
20 Safeco Ins Cos 136 1.4
21 Royal & SunAlliance USA 673 7.0
22 State Comp Ins Fund of Calif 66 0.7
23 Fairfax Financial (US) Group 370 3.9
24 Ace INA Group 453 5.0
25 Kember Ins Cos 1,001 11.3
Total U.S. P/C Stock Cos $23,860 3.8
Total U.S. P/C Mutual Cos $6,565 2.5
Total U.S. P/C Lloyds Cos $29 4.1
Total U.S. P/C Reciprocal Cos $3,758 5.5
Total U.S. P/C State Fund $175 0.9
Total U.S. P/C Agency Cos $20,689 4.5
Total U.S. P/C Direct Writers $13,698 2.7
Total U.S. P/C Industry $34,386 3.5
Agents' All
Rank Balances % of Other
2001 Company/Group Deferred Assets Assets
1 State Farm Group $5,239 5.9 $2,654
2 Berkshire Hathaway Ins Group 767 1.0 4,732
3 American International Group Inc 3,404 6.5 10,842
4 Allstate Ins Group 3,039 7.7 1,847
5 Travelers/Citigroup Cos 2,695 7.1 2,047
6 CNA Ins Cos 1,049 3.2 2,950
7 Liberty Mutual Ins Cos 2,274 7.4 3,248
8 Zurich/Farmers Group 2,716 9.0 2,982
9 Nationwide Group 1,442 5.9 1,506
10 Hartford Ins Group 1,458 6.1 2,131
11 St Paul Cos 1,346 6.0 2,126
12 GE Global Ins Group 874 4.6 1,119
13 Chubb Group of Ins Cos 673 3.7 977
14 Allianz of America Inc 332 2.2 2,073
15 USAA Group 892 6.5 520
16 Munich Reinsurance Group 789 6.5 1,546
17 White Mountains Ins Group 1,107 9.8 790
18 Swiss Reinsurance Group 644 6.1 1,256
19 Progressive Ins Group 1,995 19.2 1,034
20 Safeco Ins Cos 730 7.6 539
21 Royal & SunAlliance USA 479 5.0 1,343
22 State Comp Ins Fund of Calif 105 1.1 106
23 Fairfax Financial (US) Group 429 4.6 1,015
24 Ace INA Group 389 4.3 2,886
25 Kember Ins Cos 843 9.5 882
Total U.S. P/C Stock Cos $32,411 5.2 $58,331
Total U.S. P/C Mutual Cos $15,523 6.0 $14,004
Total U.S. P/C Lloyds Cos $12 1.6 $34
Total U.S. P/C Reciprocal Cos $5,102 7.5 $4,732
Total U.S. P/C State Fund $436 2.2 $200
Total U.S. P/C Agency Cos $28,802 6.2 $47,734
Total U.S. P/C Direct Writers $24,683 4.8 $29,567
Total U.S. P/C Industry $53,485 5.5 $77,301
Total Gross
Yield on
Rank % of Admitted Invested
Assets
2001 Company/Group Assets Assets 2001
1 State Farm Group 3.0 $88,379 4.8
2 Berkshire Hathaway Ins Group 6.4 73,400 4.0
3 American International Group Inc 20.7 52,458 5.7
4 Allstate Ins Group 4.7 39,290 6.2
5 Travelers/Citigroup Cos 5.4 38,147 6.5
6 CNA Ins Cos 9.1 32,446 5.3
7 Liberty Mutual Ins Cos 10.5 30,895 6.1
8 Zurich/Farmers Group 9.8 30,295 5.8
9 Nationwide Group 6.2 24,275 5.0
10 Hartford Ins Group 8.9 23,997 6.1
11 St Paul Cos 9.4 22,577 6.7
12 GE Global Ins Group 5.9 18,881 4.4
13 Chubb Group of Ins Cos 5.4 18,218 5.6
14 Allianz of America Inc 13.9 14,935 4.5
15 USAA Group 3.8 13,699 7.0
16 Munich Reinsurance Group 12.7 12,161 5.8
17 White Mountains Ins Group 7.0 11,277 5.3
18 Swiss Reinsurance Group 11.9 10,527 5.7
19 Progressive Ins Group 10.0 10,391 5.9
20 Safeco Ins Cos 5.6 9,658 5.9
21 Royal & SunAlliance USA 13.9 9,646 5.5
22 State Comp Ins Fund of Calif 1.1 9,547 6.9
23 Fairfax Financial (US) Group 10.8 9,414 6.4
24 Ace INA Group 31.8 9,064 5.2
25 Kember Ins Cos 9.9 8,879 7.2
Total U.S. P/C Stock Cos 9.4 $622,985 5.5
Total U.S. P/C Mutual Cos 5.4 $260,475 5.4
Total U.S. P/C Lloyds Cos 4.8 $708 5.2
Total U.S. P/C Reciprocal Cos 6.9 $68,441 5.8
Total U.S. P/C State Fund 1.0 $20,055 5.9
Total U.S. P/C Agency Cos 10.3 $461,280 5.7
Total U.S. P/C Direct Writers 5.8 $511,385 5.3
Total U.S. P/C Industry 7.9 $972,665 5.5
Gross Yield on
Rank Invested Assets
2001 Company/Group 2000 1999
1 State Farm Group 4.8 5.0
2 Berkshire Hathaway Ins Group 4.1 3.5
3 American International Group Inc 6.1 5.5
4 Allstate Ins Group 6.0 6.0
5 Travelers/Citigroup Cos 6.9 7.0
6 CNA Ins Cos 7.1 5.9
7 Liberty Mutual Ins Cos 6.0 5.6
8 Zurich/Farmers Group 5.9 5.5
9 Nationwide Group 5.2 4.8
10 Hartford Ins Group 8.0 5.3
11 St Paul Cos 9.7 7.1
12 GE Global Ins Group 4.6 4.5
13 Chubb Group of Ins Cos 5.8 5.9
14 Allianz of America Inc 4.0 4.2
15 USAA Group 7.0 5.7
16 Munich Reinsurance Group 6.1 5.7
17 White Mountains Ins Group 5.5 5.9
18 Swiss Reinsurance Group 5.8 4.9
19 Progressive Ins Group 5.7 5.4
20 Safeco Ins Cos 6.0 6.1
21 Royal & SunAlliance USA 5.8 6.4
22 State Comp Ins Fund of Calif 6.8 6.7
23 Fairfax Financial (US) Group 5.3 5.1
24 Ace INA Group 7.4 6.4
25 Kember Ins Cos 6.3 5.7
Total U.S. P/C Stock Cos 5.9 5.6
Total U.S. P/C Mutual Cos 5.3 5.2
Total U.S. P/C Lloyds Cos 6.2 6.1
Total U.S. P/C Reciprocal Cos 5.8 5.4
Total U.S. P/C State Fund 6.3 6.3
Total U.S. P/C Agency Cos 6.3 5.9
Total U.S. P/C Direct Writers 5.3 5.1
Total U.S. P/C Industry 5.7 5.5
Source: A.M. Best Co. data as of June 18, 2002. For custom data, please
call (908) 439-2200, ext. 5742.
Asset Distribution, Top Life Writers--2001
Rank is based on total 2001 admitted assets.
($ Thousands)
Rank Group AMB # Bonds
1 Metropolitan Life & Affiliated 70192 $98,293,857
2 American International Group 70342 124,738,712
3 Prudential of America Group 70189 79,249,498
4 Hartford Life Inc 70116 21,552,257
5 Aegon USA Inc 69707 71,560,796
6 TIAA Group 70362 88,040,157
7 ING Group 70153 51,351,801
8 New York Life Group 69714 64,214,483
9 Northwestern Mutual Group 69515 44,305,562
10 Nationwide Group 70350 17,932,179
11 Equitable Group 70194 23,407,792
12 MassMutual Financial Group 69702 27,803,704
13 Lincoln National Corp 70351 26,153,348
14 Principal Life Ins Co 06150 28,746,789
15 Cigna Corp 70173 19,107,770
16 John Hancock Fin Svs Group 70170 36,359,333
17 Citigroup 70128 31,411,252
18 GE Financial Assurance Group 69555 46,713,467
19 Allstate Financial 70106 32,603,207
20 American Express Financial 69689 19,165,233
21 Pacific Life Group 69720 17,357,167
22 Manulife Financial 69542 10,477,205
23 Sun Life of Canada Group 69740 16,392,811
24 Jackson National Group 69578 30,943,056
25 State Farm Group 70126 21,930,822
Total Top 25 Life Writers $1,049,812,258
% of
Total Preferred
Rank Group Assets Stock
1 Metropolitan Life & Affiliated 43.8 $1,829,185
2 American International Group 59.2 490,616
3 Prudential of America Group 38.8 539,039
4 Hartford Life Inc 15.4 311,545
5 Aegon USA Inc 53.0 637,630
6 TIAA Group 67.4 818,338
7 ING Group 41.7 96,930
8 New York Life Group 57.7 546,119
9 Northwestern Mutual Group 45.0 1,043,490
10 Nationwide Group 20.8 5,500
11 Equitable Group 27.2 380,015
12 MassMutual Financial Group 35.2 158,213
13 Lincoln National Corp 33.7 232,806
14 Principal Life Ins Co 37.3 382,336
15 Cigna Corp 25.4 39,298
16 John Hancock Fin Svs Group 48.9 876,133
17 Citigroup 43.7 1,572,299
18 GE Financial Assurance Group 70.9 345,231
19 Allstate Financial 55.0 320,785
20 American Express Financial 35.3 0
21 Pacific Life Group 33.1 87,565
22 Manulife Financial 21.7 27,645
23 Sun Life of Canada Group 34.4 18,436
24 Jackson National Group 70.3 111,642
25 State Farm Group 69.7 646
Total Top 25 Life Writers 43.6 $10,871,441
% of
Total Common
Rank Group Assets Stock
1 Metropolitan Life & Affiliated 0.8 $5,406,106
2 American International Group 0.2 6,968,237
3 Prudential of America Group 0.3 3,067,089
4 Hartford Life Inc 0.2 498,327
5 Aegon USA Inc 0.5 1,407,222
6 TIAA Group 0.6 4,038,264
7 ING Group 0.1 429,055
8 New York Life Group 0.5 3,351,683
9 Northwestern Mutual Group 1.1 4,325,585
10 Nationwide Group 0.0 60,224
11 Equitable Group 0.4 2,220,117
12 MassMutual Financial Group 0.2 1,311,022
13 Lincoln National Corp 0.3 463,501
14 Principal Life Ins Co 0.5 1,214,148
15 Cigna Corp 0.1 1,015,169
16 John Hancock Fin Svs Group 1.2 855,210
17 Citigroup 2.2 471,991
18 GE Financial Assurance Group 0.5 238,716
19 Allstate Financial 0.5 60,717
20 American Express Financial 0.0 11,363
21 Pacific Life Group 0.2 180,949
22 Manulife Financial 0.1 809,536
23 Sun Life of Canada Group 0.0 816,219
24 Jackson National Group 0.3 345,953
25 State Farm Group 0.0 1,398,264
Total Top 25 Life Writers 0.5 $40,964,669
% of
Total
Rank Group Assets Mortgages
1 Metropolitan Life & Affiliated 2.4 $25,004,686
2 American International Group 3.3 9,488,929
3 Prudential of America Group 1.5 13,160,824
4 Hartford Life Inc 0.4 330,495
5 Aegon USA Inc 1.0 12,163,619
6 TIAA Group 3.1 22,530,662
7 ING Group 0.3 8,953,506
8 New York Life Group 3.0 9,629,529
9 Northwestern Mutual Group 4.4 15,164,381
10 Nationwide Group 0.1 7,090,024
11 Equitable Group 2.6 4,488,366
12 MassMutual Financial Group 1.7 7,259,096
13 Lincoln National Corp 0.6 4,527,248
14 Principal Life Ins Co 1.6 7,998,228
15 Cigna Corp 1.3 9,366,481
16 John Hancock Fin Svs Group 1.1 9,620,776
17 Citigroup 0.7 1,954,448
18 GE Financial Assurance Group 0.4 4,552,998
19 Allstate Financial 0.1 4,941,258
20 American Express Financial 0.0 3,701,343
21 Pacific Life Group 0.3 2,978,179
22 Manulife Financial 1.7 1,721,194
23 Sun Life of Canada Group 1.7 2,217,987
24 Jackson National Group 0.8 3,192,510
25 State Farm Group 4.4 3,735,224
Total Top 25 Life Writers 1.7 $195,771,988
% of
Total
Rank Group Assets Real Estate
1 Metropolitan Life & Affiliated 11.1 $495,943
2 American International Group 4.5 159,019
3 Prudential of America Group 6.4 384,398
4 Hartford Life Inc 0.2 24,614
5 Aegon USA Inc 9.0 213,512
6 TIAA Group 17.3 286,488
7 ING Group 7.3 196,040
8 New York Life Group 8.7 135,587
9 Northwestern Mutual Group 15.4 105,997
10 Nationwide Group 8.2 0
11 Equitable Group 5.2 0
12 MassMutual Financial Group 9.2 73,570
13 Lincoln National Corp 5.8 6,161
14 Principal Life Ins Co 10.4 329,437
15 Cigna Corp 12.5 154,915
16 John Hancock Fin Svs Group 12.9 164,167
17 Citigroup 2.7 80,720
18 GE Financial Assurance Group 6.9 46,995
19 Allstate Financial 8.3 27,123
20 American Express Financial 6.8 0
21 Pacific Life Group 5.7 35,350
22 Manulife Financial 3.6 7,893
23 Sun Life of Canada Group 4.7 64,635
24 Jackson National Group 7.3 60,954
25 State Farm Group 11.9 0
Total Top 25 Life Writers 8.1 $3,053,517
% of
Total Policy
Rank Group Assets Loans
1 Metropolitan Life & Affiliated 0.2 $8,232,462
2 American International Group 0.1 3,568,493
3 Prudential of America Group 0.2 7,931,484
4 Hartford Life Inc 0.0 3,296,101
5 Aegon USA Inc 0.2 1,563,290
6 TIAA Group 0.2 507,418
7 ING Group 0.2 3,011,026
8 New York Life Group 0.1 6,150,748
9 Northwestern Mutual Group 0.1 9,028,026
10 Nationwide Group 0.0 591,048
11 Equitable Group 0.0 4,097,471
12 MassMutual Financial Group 0.1 6,261,866
13 Lincoln National Corp 0.0 1,931,112
14 Principal Life Ins Co 0.4 831,858
15 Cigna Corp 0.2 2,429,575
16 John Hancock Fin Svs Group 0.2 1,926,969
17 Citigroup 0.1 1,223,920
18 GE Financial Assurance Group 0.1 871,770
19 Allstate Financial 0.0 1,201,182
20 American Express Financial 0.0 619,540
21 Pacific Life Group 0.1 4,898,515
22 Manulife Financial 0.0 2,226,380
23 Sun Life of Canada Group 0.1 979,058
24 Jackson National Group 0.1 704,608
25 State Farm Group 0.0 2,554,574
Total Top 25 Life Writers 0.1 $76,638,495
% of Cash &
Total Short-Term
Rank Group Assets Investments
1 Metropolitan Life & Affiliated 3.7 $4,406,346
2 American International Group 1.7 1,952,424
3 Prudential of America Group 3.9 9,221,193
4 Hartford Life Inc 2.4 1,157,446
5 Aegon USA Inc 1.2 1,537,277
6 TIAA Group 0.4 2,981,011
7 ING Group 2.4 2,608,068
8 New York Life Group 5.5 762,821
9 Northwestern Mutual Group 9.2 2,018,246
10 Nationwide Group 0.7 155,382
11 Equitable Group 4.8 351,352
12 MassMutual Financial Group 7.9 4,936,320
13 Lincoln National Corp 2.5 2,737,699
14 Principal Life Ins Co 1.1 381,613
15 Cigna Corp 3.2 806,143
16 John Hancock Fin Svs Group 2.6 906,525
17 Citigroup 1.7 3,130,868
18 GE Financial Assurance Group 1.3 255,917
19 Allstate Financial 2.0 666,018
20 American Express Financial 1.1 1,166,921
21 Pacific Life Group 9.3 520,671
22 Manulife Financial 4.6 656,481
23 Sun Life of Canada Group 2.1 2,346,020
24 Jackson National Group 1.6 1,005,507
25 State Farm Group 8.1 61,160
Total Top 25 Life Writers 3.2 $46,729,430
% of
Total Separate
Rank Group Assets Accounts
1 Metropolitan Life & Affiliated 2.0 $63,764,112
2 American International Group 0.9 56,373,341
3 Prudential of America Group 4.5 79,316,803
4 Hartford Life Inc 0.8 109,925,370
5 Aegon USA Inc 1.1 37,972,303
6 TIAA Group 2.3 4,353,982
7 ING Group 2.1 53,563,941
8 New York Life Group 0.7 14,038,946
9 Northwestern Mutual Group 2.1 11,785,461
10 Nationwide Group 0.2 59,553,149
11 Equitable Group 0.4 47,155,609
12 MassMutual Financial Group 6.2 24,942,387
13 Lincoln National Corp 3.5 38,993,676
14 Principal Life Ins Co 0.5 34,429,551
15 Cigna Corp 1.1 38,786,560
16 John Hancock Fin Svs Group 1.2 19,239,783
17 Citigroup 4.4 28,444,136
18 GE Financial Assurance Group 0.4 9,485,062
19 Allstate Financial 1.1 18,186,878
20 American Express Financial 2.1 27,538,161
21 Pacific Life Group 1.0 23,457,562
22 Manulife Financial 1.4 30,216,549
23 Sun Life of Canada Group 4.9 23,033,675
24 Jackson National Group 2.3 5,140,131
25 State Farm Group 0.2 827,005
Total Top 25 Life Writers 1.9 $860,524,134
% of
Total Other
Rank Group Assets Assets
1 Metropolitan Life & Affiliated 28.4 $17,081,914
2 American International Group 26.8 6,867,140
3 Prudential of America Group 38.9 11,232,708
4 Hartford Life Inc 78.7 2,581,183
5 Aegon USA Inc 28.1 7,990,982
6 TIAA Group 3.3 6,987,611
7 ING Group 43.5 3,036,405
8 New York Life Group 12.6 12,484,207
9 Northwestern Mutual Group 12.0 10,614,699
10 Nationwide Group 69.1 780,812
11 Equitable Group 54.8 4,010,937
12 MassMutual Financial Group 31.6 6,250,783
13 Lincoln National Corp 50.3 2,535,936
14 Principal Life Ins Co 44.6 2,848,472
15 Cigna Corp 51.6 3,496,982
16 John Hancock Fin Svs Group 25.9 4,454,265
17 Citigroup 39.6 3,593,664
18 GE Financial Assurance Group 14.4 3,389,601
19 Allstate Financial 30.7 1,242,781
20 American Express Financial 50.7 2,106,931
21 Pacific Life Group 44.7 2,926,875
22 Manulife Financial 62.5 2,227,701
23 Sun Life of Canada Group 48.3 1,810,178
24 Jackson National Group 11.7 2,484,729
25 State Farm Group 2.6 936,519
Total Top 25 Life Writers 35.7 $123,973,910
% of
Total Total
Rank Group Assets Assets
1 Metropolitan Life & Affiliated 7.6 $224,514,611
2 American International Group 3.3 210,606,910
3 Prudential of America Group 5.5 204,103,036
4 Hartford Life Inc 1.8 139,677,338
5 Aegon USA Inc 5.9 135,046,631
6 TIAA Group 5.4 130,543,931
7 ING Group 2.5 123,246,772
8 New York Life Group 11.2 111,314,124
9 Northwestern Mutual Group 10.8 98,391,448
10 Nationwide Group 0.9 86,168,318
11 Equitable Group 4.7 86,111,660
12 MassMutual Financial Group 7.9 78,996,961
13 Lincoln National Corp 3.3 77,581,487
14 Principal Life Ins Co 3.7 77,162,432
15 Cigna Corp 4.7 75,202,893
16 John Hancock Fin Svs Group 6.0 74,403,160
17 Citigroup 5.0 71,883,299
18 GE Financial Assurance Group 5.1 65,899,757
19 Allstate Financial 2.1 59,249,950
20 American Express Financial 3.9 54,309,491
21 Pacific Life Group 5.6 52,442,834
22 Manulife Financial 4.6 48,370,583
23 Sun Life of Canada Group 3.8 47,679,020
24 Jackson National Group 5.6 43,989,091
25 State Farm Group 3.0 31,444,213
Total Top 25 Life Writers 5.1 $2,408,339,841
Net Yield on Invested Assets
Before Any Federal Income Tax
Rank Group 2001 2000 1999
1 Metropolitan Life & Affiliated 7.35 7.49 7.49
2 American International Group 6.98 6.91 6.93
3 Prudential of America Group 5.97 6.50 7.16
4 Hartford Life Inc 7.09 7.02 6.87
5 Aegon USA Inc 7.20 7.37 7.35
6 TIAA Group 7.60 7.92 7.84
7 ING Group 6.95 7.23 7.26
8 New York Life Group 7.30 7.30 6.96
9 Northwestern Mutual Group 7.06 7.29 6.99
10 Nationwide Group 7.28 7.49 7.15
11 Equitable Group 7.71 12.06 7.30
12 MassMutual Financial Group 7.57 7.56 7.30
13 Lincoln National Corp 6.85 7.01 7.06
14 Principal Life Ins Co 7.96 7.86 7.51
15 Cigna Corp 7.79 7.81 7.67
16 John Hancock Fin Svs Group 7.56 8.06 7.54
17 Citigroup 7.01 7.74 7.74
18 GE Financial Assurance Group 6.84 7.40 7.67
19 Allstate Financial 7.22 7.42 7.55
20 American Express Financial 5.77 7.19 7.54
21 Pacific Life Group 7.34 7.63 7.84
22 Manulife Financial 7.98 8.00 7.78
23 Sun Life of Canada Group 6.28 6.90 8.41
24 Jackson National Group 6.47 7.21 7.35
25 State Farm Group 7.19 7.37 7.41
Total Top 25 Life Writers 7.11 7.47 7.36
Net Yield on
Invested Assets
Before Any Federal
Income Tax
Rank Group 1998 1997
1 Metropolitan Life & Affiliated 7.56 7.04
2 American International Group 7.06 7.86
3 Prudential of America Group 7.08 7.29
4 Hartford Life Inc 8.91 7.61
5 Aegon USA Inc 7.46 7.61
6 TIAA Group 7.96 7.99
7 ING Group 7.56 7.79
8 New York Life Group 7.38 7.16
9 Northwestern Mutual Group 7.23 7.34
10 Nationwide Group 7.84 7.87
11 Equitable Group 7.48 8.05
12 MassMutual Financial Group 7.37 7.45
13 Lincoln National Corp 7.42 7.38
14 Principal Life Ins Co 7.12 7.38
15 Cigna Corp 7.27 8.27
16 John Hancock Fin Svs Group 7.80 7.68
17 Citigroup 7.13 7.57
18 GE Financial Assurance Group 7.81 8.01
19 Allstate Financial 7.38 12.16
20 American Express Financial 7.73 7.86
21 Pacific Life Group 7.94 6.99
22 Manulife Financial 8.15 7.93
23 Sun Life of Canada Group 8.62 8.35
24 Jackson National Group 7.64 7.93
25 State Farm Group 7.62 7.57
Total Top 25 Life Writers 7.50 7.69
Source: A.M. Best Co. data as of June 18, 2002. For custom data, please
call (908) 439-2200, ext. 5742.
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