Return policy: sales of variable universal life insurance have been down for more than two years. A healthier stock market and new product guarantees may mean a rebound.Is variable life insurance poised for a comeback Comeback Australian breed of wool sheep, bred by crossing Merino with Corriedale, Polwarth or Zenith sheep; wool is 21 to 25 microns. It is a registered breed, but the term is more commonly used in the sense of a type of sheep produced by crossbreeding a crossbred Merino back to Merino. ? With equity markets up more than 20% in the second quarter, many life insurance writers are doubtlessly hoping that their most innovative and complicated instrument may be on the verge On the Verge (or The Geography of Yearning) is a play written by Eric Overmyer. It makes extensive use of esoteric language and pop culture references from the late nineteenth century to 1955. of winning back the hearts of prospects across 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. . But as of late July July: see month. , there was no more than a smattering of evidence that might be the case. Sales of the product, which offers investment options in stocks, were hurt deeply by the three-year bear market that started in March 2000. While traditional fixed products, such as whole life, term and universal life, fared well during that period--enjoying a sales spike A burst of extra voltage in a power line that lasts only a few nanoseconds. See power surge, power swell, sag and surge suppression. (jargon) spike - To defeat a selection mechanism by introducing a (sometimes temporary) device that forces a specific result. , particularly after the terrorist attacks in September September: see month. 2001--variable life sales sank. 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. marketing and research organization Limra International, annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. premium fell 35% in this year's first quarter from the same period in 2002. By contrast, UL premium was up 27% (on top of a 29% jump in the first quarter of 2001), whole life was up 10% (on top of a 12% gain), and term sales were up 1%. Variable life's first-quarter market share dropped to 19% from 28% in 2002 and 36% in 2000, said head researcher Elaine Elaine, in Arthurian legend: see Launcelot, Sir. Elaine disguises herself as Guinevere in order to seduce Lancelot. [Br. Lit.: Malory Le Mort d’Arthur] See : Disguise Elaine Tumicki, a Limra vice president. Variable products are still too new to have a meaningful history of coming out of bear markets. Variable universal life insurance The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , which currently accounts for about 95% of variable-life sales, was first sold in the mid 1980s by Prudential Prudential is the name of two different companies and buildings named after them: Companies:
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. process," she said. She added that she didn't did·n't Contraction of did not. didn't did not didn't do expect second-quarter sales results to show much improvement over the first quarter. Sales peaked during the first quarter of 2001, indicating a lag time in the beginning of the sales slump Slump A temporary fall in performance, often describing consistently falling security prices for several weeks or months. . Risks and Rewards Variable universal life policies offer policyholders the opportunity to invest in the stock market. But when the stock markets fall, VUL VUL Variable Universal Life VUL Vulnerability (unit) VUL Vulgar can exact special hardships on policyholders because falling cash values may mean there is no longer enough money to pay ongoing insurance costs. A policyholder Policyholder An individual who owns an insurance policy. may need to unexpectedly add money to prevent a contract from lapsing lapse v. lapsed, laps·ing, laps·es v.intr. 1. a. To fall from a previous level or standard, as of accomplishment, quality, or conduct: . If cash value is borrowed from a contract that later lapses, the policyholder would have to pay income tax on the amount borrowed. If a policy lapses when the insured The person who obtains or is otherwise covered by insurance on his or her health, life, or property. The insured in a policy is not limited to the insured named in the policy but applies to anyone who is insured under the policy. insured n. is no longer insurable in·sure v. in·sured, in·sur·ing, in·sures v.tr. 1. a. To provide or arrange insurance for: a company that insures homeowners and businesses. b. , the policyholder faces loss of premium already paid and may no longer be able to meet goals, such as estate liquidity, income protection 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. business coverages. Of course, a VUL with strong underlying investments can significantly increase the death benefit. It can also build up so much cash value that the owner can use it to supplement retirement income or to stop paying premiums. Mindful mind·ful adj. Attentive; heedful: always mindful of family responsibilities. See Synonyms at careful. mind of the risks to policyholders, many insurers have added guarantees and enhancements to their VULs. The most common has been lapse (language) LAPSE - A single assignment language for the Manchester dataflow machine. ["A Single Assignment Language for Data Flow Computing", J.R.W. Glauert, M.Sc Diss, Victoria U Manchester, 1978]. protection for a certain period or to age 100--regardless of the performance of investment options--provided a minimum stipulated premium is paid annually. These "bells and whistles A slang English term for exceptional features in some product. In the computer field, it typically refers to functions in software that may be greatly appreciated by some users, even though they may not be necessary most of the time. " have helped to restore confidence in VUL products, said Mark Freedman freed·man n. A man who has been freed from slavery. freedman Noun pl -men History a man freed from slavery Noun 1. , a partner in Ernst & Young's Insurance & Actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal Group. "Policyholders pay different premium tracks due to the flexibility in the contracts," he said. "The contracts most exposed to this are those in the low-premium track." Most contracts issued in recent years have these minimum cumulative-premium provisions, said Freedman. Older contracts without these provisions could be exposed, although some of these still have good cash values due to equity performance before the bear market, he added. Many insurers also have enhanced contract flexibility, increased options and embarked on efforts encouraging producers and contract owners to employ sound investment fundamentals. Preventing Policy Lapses Lincoln Lincoln, city and district, England Lincoln, city (1991 pop. 79,980) and district, Lincolnshire, E England, in the Parts of Kesteven, on the Witham River. National Life Insurance Co., the lead company in the Lincoln Financial Group, during the bear market added no-lapse guarantees of 10 or 20 years or to age 100. It also allows owners who 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. pay enough premium the option of "catching up" if they pay an interest rate of 4% on the shortfalls. "What we have round marketable Marketable are securities that can be easily converted into cash. Such securities will generally have highly liquid markets allowing the security to be sold at a reasonable price very quickly. is the concept of someone paying for a 10-year guarantee, and then later using the catch-up catch-up n. 1. An approach or strategy intended to overcome a disadvantage or lead: The competition will be playing catch-up for the rest of the season. 2. to extend it to 20 years" said Steven Ste´ven n. 1. Voice; speech; language. Ye have as merry a steven As any angel hath that is in heaven. - Chaucer. 2. An outcry; a loud call; a clamor. To set steven to make an appointment. Roche n. 1. Rock. , vice president and variable-life business leader. "That has played out well." The age-100 guarantee is the least chosen, partly because the minimum premium is so much higher and partly because the odds of a policy lapsing are less after the first 20 years, Roche said. Lincoln also introduced tools and features to manage the product's short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. volatility Volatility 1. A statistical measure of the tendency of a market or security to rise or fall sharply within a period of time. 2. A variable in option pricing formulas that denotes the extent to which the return of the underlying asset will fluctuate between now and the and risk. One feature has been to increase the usability How easy something is to use. Both software and Web sites can be tested for usability. Considering how difficult applications are to use and Web sites are to navigate, one would wish that more designers took this seriously. See user interface and usability lab. of the product's fixed-account option, which pays higher rates than a money-market option, but which people have hesitated using due to liquidity restrictions. Lincoln increased the percentage policyholders can move annually to another investment option from the fixed account, and it extended the time frame in which they can do it each year. This has led to more use of the fixed account, Roche said. The company also has been publicizing pub·li·cize tr.v. pub·li·cized, pub·li·ciz·ing, pub·li·ciz·es To give publicity to. Noun 1. publicizing - the business of drawing public attention to goods and services advertising virtues some people may have given up during the late 1990s bull market--dollar-cost averaging and asset allocation--and it has improved software packages and online service capabilities, including access to account values and online transfer among funds. Recently, the company has offered an enhanced interest rate for the fixed account if owners agree within 12 months to dollar-cost-average money in the account into other account options. As of late July, the rate was 10%. Lastly, Lincoln has allowed policyholders to choose the fund(s) from which policy expenses will be drawn each month. These deductions originally came from each fund on a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. basis, which forced policyholders to sell more shares from fund options that were down in price. Being forced to sell more shares when they are low works the opposite of dollar-cost averaging dollar-cost averaging Investment of a fixed amount of money at regular intervals, usually each month. This process results in the purchase of extra shares during market downturns and fewer shares during market upturns. , Roche pointed out, thereby offsetting the benefits of that investment strategy. Owners now may pay expenses from options of their choice, including the fixed account, Roche said. These changes mitigated mit·i·gate v. mit·i·gat·ed, mit·i·gat·ing, mit·i·gates v.tr. To moderate (a quality or condition) in force or intensity; alleviate. See Synonyms at relieve. v.intr. To become milder. Lincoln's 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. in VUL sales, which were 40% lower in the first quarter of 2003 than they were in the same period three years earlier, Roche said. That sales falloff fall·off n. A reduction or decrease: a falloff in car sales. Noun 1. falloff - a noticeable deterioration in performance or quality; "the team went into a slump"; "a gradual slack in amounts to a 12% or 13% compounded rate of loss over the three years, which is much better than other companies' sales, he said. Roche said he expects a lag before sales actually improve, and he said "anecdotal evidence anecdotal evidence, n information obtained from personal accounts, examples, and observations. Usually not considered scientifically valid but may indicate areas for further investigation and research. from people in our underwriting and new-business departments indicates more activity." Lincoln's lapse rate lapse rate n. The rate of decrease of atmospheric temperature with increase in altitude. lapse rate The rate of change of any meteorological phenomenon, especially atmospheric temperature with altitude. hasn't has·n't Contraction of has not. hasn't has not hasn't have changed much, though Roche said there has been a slight increase in replacement activity from Lincoln VULs to the company's UL product. He said Lincoln has a young VUL book of business, which tends to stay in force due to higher surrender charges Surrender Charge A fee levied on a life insurance policyholder upon cancellation of his or her life insurance policy. The fee is used to cover the costs of keeping the insurance policy on the insurance provider's books. in the early years. Overall, Lincoln has had strong sales during the bear market because of a diversified diversified (di·verˑ·s product line, including term insurance, UL and whole lift, said Roche. These products were already on the shelf and provided distributors a quick and effective alternative to variable insurance, he said. Benefits of Flexibility Hartford Hartford, city (1990 pop. 139,739), state capital, Hartford co., central Conn., on the west bank of the Connecticut River; settled as Newtown 1635–36 on the site of a Dutch trading post (1633; abandoned 1654), inc. 1784. Life Insurance Co. didn't have a UL product and felt compelled to introduce one during the bear market due to consumer demand. But when Bob Kerzner, executive vice president, individual life, talks about the two products, 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 clear where his allegiance allegiance, in political terms, the tie that binds an individual to another individual or institution. The term usually refers to a person's legal obligation of obedience to a government in return for the protection of that government, although it may have reference lies: with VUL. "If everyone wants certainty CERTAINTY, UNCERTAINTY, contracts. In matters of obligation, a thing is certain, when its essence, quality, and quantity, are described, distinctly set forth, Dig. 12, 1, 6. It is uncertain, when the description is not that of one individual object, but designates only the kind. Louis. , and interest rates remain so low, then how will any of us be able to retire retire v. 1) to stop working at one's occupation. 2) to pay off a promissory note, and thus "retire" the loan. 3) for a jury to go into the jury room to decide on a verdict after all evidence, argument and jury instructions have been completed. ?" Kerzner asked. "When you look at life insurance as part of an accumulation plan Accumulation Plan 1) A general financial strategy in which an investor attempts to build the value of their portfolio to a desired size. 2) In the context of mutual funds, a formal arrangement in which the investor contributes a specified amount of money to the fund on a , executive compensation, business insurance, or broader planning where you might want the cash value available for retirement, then sometime during the next 20 or 30 years, we will see the growth in equity markets." If you want upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar , then VUL for those kinds of sales will remain the product of choice. If you want just the death benefit, then the current UL products with guarantees do a great job in fulfilling that, he added. Kerzner almost grudgingly grudg·ing adj. Reluctant; unwilling. grudg  ing·ly adv.Adv. 1. admits Hartford needed to have a full portfolio of products to give customers a full choice. But ironically i·ron·ic also i·ron·i·cal adj. 1. Characterized by or constituting irony. 2. Given to the use of irony. See Synonyms at sarcastic. 3. , once Hartford offered a UL policy, many buyers still chose the VUL, he said. "Now at least they've they've Contraction of they have. they've have been able to appraise appraise v. to professionally evaluate the value of property including real estate, jewelry, antique furniture, securities, or in certain cases the loss of value (or cost of replacement) due to damage. for themselves the differences and come to the right conclusion," said Kerzner. In fact, a feature of the Hartford UL plan is that it allows policy holders to convert to VUL. "That's how committed we are," Kerzner said. "We think some people who bought UL with certainty will wish they were on a different train and have the ability to move over to another track." Kerzner's pro-VUL stance stance the posture or position. sawhorse stance see sawhorse posture. stance A body position. See Pugilistic stance. stems from the conviction that clients ought to preserve flexibility. "People forget that within VUL, you have fixed alternatives," he said. "You can decide to sit on the bench and wait for the right time. With a fixed product, you've you've Contraction of you have. you've you have you've have given up flexibility. Some VUL clients didn't necessarily lose money. They may have switched to fixed or money-market accounts and then held tight. But with fixed contracts bought 10 years ago, interest rates have done nothing but go down. Many are at the contractual minimum now. Policyholders are disappointed, but there's nothing they can do about it." Kerzner said that the mistake people make when buying life insurance is that since they face a 20-year to 40-year horizon, they let the current market environment "far too greatly impact" their 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. buying decision. "VUL was the place to be in the bottom of the bear market if stocks are the place to be 30 years from now," he said. But like Lincoln, Hartford saw the need to add guarantees. Hartford no-lapse provisions are for 20 years or a lifetime. People who fund their VULs too lightly might want to pay that excess charge to get the guarantee, Kerzner said. If clients are funding at high levels, they may hot need to pay a charge. Hartford fared better in VUL sales during the bear market than the industry as a whole. Kerzner said the company finished 2002 as the top seller of VUL, up from fourth the year before. Policy lapses were higher, but "almost imperceptibly im·per·cep·ti·ble adj. 1. Impossible or difficult to perceive by the mind or senses: an imperceptible drop in temperature. 2. ," Kerzner said, because so much of Hartford's business is written in trusts. Clients therefore tend to be sophisticated and take a long-term view in how to structure the trusts. But be admitted the past two years have been difficult for the company. In addition to adding guarantees, Hartford has undertaken a formal program to urge its independent distributors to "systematically and regularly" review policies. Called the "Compass Program," it provides a service that measures actual performance of a policy against the illustration at the time of the sale. On Aug. 1, 2003, Hartford added investment managers American Funds  Please see the discussion on the talk page. Franklin. 1 City (1990 pop. 12,907), seat of Johnson co., S central Ind., inc. 1823. It is a farm trade center. Manufactures include auto parts, aluminum doors and windows, and copper panels. Templeton Templeton self-centered rat. [Children’s Lit.: Charlotte’s Web] See : Egotism to its VUL policies. They joined investment managers Putnam Put·nam , Israel 1718-1790. American soldier active in the French and Indian War and the Revolutionary War. During the Battle of Bunker Hill (June 17, 1775), he supposedly issued the order, "Don't one of you shoot until you see the whites of their and Wellington Wellington, city (1996 pop. 157,647; urban agglomeration 334,051), capital of New Zealand, extreme S North Island, on Port Nicholson, an inlet of Cook Strait. . Expecting an Uptick Uptick A transaction occurring at price above its previous transaction. In order for an uptick to occur, a transaction price must be followed by an increased transaction price. Ameritas Life Insurance Corp., a small company based in Lincoln, Neb., views the current uncertain economic climate as an opportunity. Patty Reiners, manager of adviser services, expects a sales uptick in the fall. Ameritas distributes no-load no-load adj. Business Sold directly to customers at net asset value without a sales commission: a no-load mutual fund. and low-load variable products through noncommissioned Non`com`mis´sioned a. 1. Not having a commission. Noncommissioned officer (Mil.) a subordinate officer not appointed by a commission from the chief executive or supreme authority of the State; but by the Secretary of War or by independent financial advisers, a rare distribution strategy in the variable marketplace. "We've we've Contraction of we have. we've have gotten an indication that there's renewed re·new v. re·newed, re·new·ing, re·news v.tr. 1. To make new or as if new again; restore: renewed the antique chair. 2. interest in VUL based on the number of advisers and consumers calling for proposals," said Reiners. "There is a lag time, but people are starting to get more comfortable." Ameritas' low costs didn't protect its VUL line from the bear market. Reiners said sales were "down considerably." On the plus side, Ameritas Life's no-surrender-charge/no-sales-load products have highlighted the expense structures of policies, Reiners said. "With load policies, you're you're Contraction of you are. you're you are you're be looking at a long time recovery." In July 2002, the company launched a new version of its no-load UL policy, originally introduced in 1986. Reiners said Ameritas refashioned its UL policy not to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. its bear-market lineup A criminal investigation technique in which the police arrange a number of individuals in a row before a witness to a crime and ask the witness to identify which, if any, of the individuals committed the crime. but rather to better reflect lower mortality experience. "It just happened to be a good time in the market for a fixed product," she said. But the bear market has not shaken
Shaken (車剣, also known as kurumaken) are a type of Shuriken Ameritas' confidence in VUL because the concept is based on the long-term performance of the equity markets, not as a short-term investment vehicle. "As interest rates rail and the market turns up, people are seeing reasons to tare tare (târ), name sometimes used as a synonym for any vetch, most frequently for the common vetch. The tare of the Scriptures, a weed of grainfields and considered a seed of evil, is thought to have been the unrelated darnel (see rye grass). a second look at VUL," Reiners said. "The challenge for UL now is low interest rates." Wild Cards Symbols used to represent any value when selecting specific files. In DOS, Windows and Unix, the asterisk (*) represents any collection of characters, and the question mark (?) represents one single character. In SQL, the percent sign (%) and underscore (_) are used for matching text. of the Economy Of course, VUL products could sustain more serious damage if the stock markets' recovery is not sustainable. The worst case would be a prolonged pro·long tr.v. pro·longed, pro·long·ing, pro·longs 1. To lengthen in duration; protract. 2. To lengthen in extent. period of deflation deflation: see inflation. deflation Contraction in the volume of available money or credit that results in a general decline in prices. A less extreme condition is known as disinflation. . Also bad for long-term investors Long-term investor A person who makes investments for a period of at least five years in order to finance his or her long-term goals. would be a secular Secular An adjective used to describe a long-term time frame, usually at least 10 years. Notes: For example, in his book "Stocks For the Long Run", Jeremy Siegel (finance professor at The Wharton School, University of Pennsylvania) argues that equity securities bear market, which usually lasts 10 to 15 years. The most recent secular bear market occurred from 1966 to 1982. Cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. bull markets typically occur during a secular bear, but stocks have little or no gain to show from a secular bear's beginning point to end point. Deflation would cause stock prices and bonds' interest rates to fall much more, said Ernst & Young's Freedman. This would hurt not only VUL, but some of the fixed products like UL and participating whole life. Deflation could cause term sales to pick up, he added. Deflation could hurt insurers more than by causing sales losses. Minimum premium guarantees would eventually come into the money and cost insurers' profitability, Freedman said. A secular bear would clearly hurt variable products "as people seem to shy away from Verb 1. shy away from - avoid having to deal with some unpleasant task; "I shy away from this task" avoid - stay clear from; keep away from; keep out of the way of someone or something; "Her former friends now avoid her" stocks in these situations," he said. Kerzner of Hartford Life said market cycles are "more of a pendulum" and that "what we ought to be betting on is the American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of economy." People should question whether they ought to bet on market conditions that have only a limited chance of occurring, he said. But even if negative conditions occur, owners of VUL policies can "head for the hills" in limited-risk options and then be well poised for an uptick, he said. Lincoln National Life's Roche said predicting what would happen to the VUL business as a whole under prolonged adverse market conditions is difficult, "but it's sale to say a long-term bear market wouldn't would·n't Contraction of would not. wouldn't would not wouldn't would be good for VUL sales." All financial institutions would be impacted "by ways we can't anticipate," as would the bond markets, he said. Tumicki of Limra said the recent economic conditions have illustrated the importance of insurers having a balanced portfolio of products with some appropriate for any kind of environment. "Theoretically, VUL could be appropriate under many conditions," she said. "But the companies that have fared best the past couple of years have paid attention to all kinds of products and kept a fixed product available even when VUL was selling the best." She said a prolonged economic downturn would have a "snowball effect For other uses, see Snowball (disambiguation). Snowball effect is a figurative term for a process that starts from an initial state of small significance and builds upon itself, becoming larger (graver, more serious), and perhaps potentially dangerous or disastrous (a " on many parts of the financial-services industry, not just on one kind of product.
Top Life Writers By Line
Ordinary Life Average Policy
Size and Lapse Ratios,
Top Writers--2002 pg 86
Total Life In Force,
Top Life Writers--2002 pg 88
Total Life Issued,
Top Life Writers--2002 pg 88
Group Life In Force,
Top Life Writers--2002 pg 90
Group Life Issued,
Top Life Writers--2002 pg 90
Term Life In Force,
Top Life Writers--2002 pg 90
Term Life Issued,
Top Life Writers--2002 pg 90
Credit Life In Force,
Top Life Writers--2002 pg 92
Credit Life Issued,
Top Life Writers--2002 pg 92
Ordinary Life In Force,
Top Life Writers--2002 pg 92
Ordinary Life Issued,
Top Life Writers--2002 pg 92
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Ordinary Life Average Policy Size and Lapse Ratios, Top Writers--2002
Rank is based on the amount of total ordinary life issued in 2002.
($ Thousands)
Rank Group Name AMB# Issued in 2002
1 Northwestern Mutual Group 69515 $94,687,363
2 Citigroup 70128 88,081,055
3 Amer Intl Group 70342 86,322,870
4 GE Finl Assur Group 69555 81,571,420
5 State Farm Group 70126 78,729,773
6 Business Men's Assur Co 06175 74,106,859
7 Aegon USA Inc 69707 72,067,603
8 Metropolitan Life & Affil 70192 70,385,411
9 New York Life Group 69714 69,461,017
10 Protective Life Corp 69728 67,918,415
11 Zurich Ins Group 70130 64,447,757
12 Allstate Finl 70106 52,581,100
13 Legal & Gen America Inc 69539 48,673,203
14 Prudential of America Group 70189 40,709,392
15 CNA Ins Group 70110 38,079,897
16 John Hancock Finl Svcs Group 70170 36,778,511
17 Mass Mutual Finl Group 69702 36,662,277
18 Sammons Finl Group 69731 36,459,661
19 Lincoln Natl Corp 70351 35,191,809
20 Torchmark Corp 70265 25,015,465
21 Guardian Life 69685 24,291,957
22 USAA Life Group 70364 22,804,810
23 Scor Life US Group 70253 22,179,817
24 Equitable Group 70194 20,712,152
25 MONY Group 70198 18,622,766
Total U.S. L/H Stock Cos $1,423,468,372
Total U.S. L/H Mutual Cos $325,425,826
Total U.S. L/H Industry $1,748,894,198
Total U.S. L/H Fraternal Cos $21,274,346
Total U.S. L/H & Fraternal Cos $1,770,168,544
Average Policy Issued
Rank 2002 2001 2000 1999 1998
1 $359,966 $349,674 $330,502 $287,205 $269,359
2 244,067 231,303 218,059 202,657 187,324
3 93,151 88,739 77,672 68,577 63,725
4 374,674 328,990 343,301 307,058 273,777
5 98,646 98,335 100,618 88,379 86,844
6 54,132 36,044 36,149 29,115 35,602
7 150,782 135,773 195,176 166,596 109,834
8 233,242 198,763 179,909 177,330 170,692
9 223,225 193,495 190,218 196,466 183,864
10 343,618 254,872 259,584 207,699 178.401
11 233,693 232,130 204,139 187,280 188,167
12 185,802 186,433 197,442 179,609 143,967
13 567,644 513,773 424,368 447,519 478,747
14 269,513 196,381 181,979 164,423 152,470
15 544,979 424,409 492,245 405,035 206,515
16 546,827 540,416 498,107 399,732 341,733
17 497,318 449,705 432,111 375,336 323,522
18 288,335 304,211 272,260 246,110 226,024
19 516,297 499,108 449,837 436,737 326,730
20 20,075 22,375 21,538 18,010 15,052
21 470,355 433,470 414,002 347,468 310,276
22 336,186 278,405 238,799 230,625 221,405
23 67,676 32,345 177,816 18,445 5,035
24 453,160 454,995 435,633 397,248 355,400
25 374,862 326,082 326,695 269,100 225,749
$110,952 $107,096 $128,859 $107,418 $98,086
$184,593 $165,625 $163,710 $155,636 $146,709
$119,848 $114,430 $133,266 $113,186 $104,052
$70,486 $69,024 $67,074 $64,454 $60,699
$118,848 $113,343 $131,572 $111,864 $102,807
Average Policy In Force
Rank 2002 2001 2000 1999 1998
1 $161,667 $151,218 $140,706 $130,732 $121,924
2 103,649 130,404 150,720 142,292 137,776
3 35,388 29,462 26,217 39,604 36,340
4 250,613 245,652 219,398 180,156 162,938
5 73,838 71,362 68,240 64,997 62,832
6 41,742 36,047 35,159 34,358 36,636
7 48,640 59,753 59,435 53,721 52,192
8 43,541 44,362 54,093 46,741 45,325
9 112,261 100,608 95,678 90,629 85,310
10 159,065 139,790 124,250 107,940 88,476
11 169,329 160,588 150,894 146,405 141,986
12 126,337 122,087 114,302 110,193 101,674
13 347,390 305,871 265,163 214,706 134,702
14 40,481 37,689 37,136 34,919 33,150
15 253,479 68,382 68,174 87,167 91,981
16 78,498 68,131 59,592 47,158 40,978
17 153,580 139,427 128,495 118,535 109,348
18 181,476 169,940 156,711 146,070 136,064
19 93,172 82,748 75,219 84,901 60,282
20 16,186 15,960 15,481 14,668 14,006
21 44,540 40,797 36,283 44,268 28,091
22 205,977 191,302 181,062 172,930 164,796
23 24,616 12,772 6,407 7,430 6,763
24 44,278 38,556 41,549 59,582 59,272
25 122,060 108,771 95,400 82,896 76,898
$53,041 $49,840 $47,209 $48,819 $48,472
$86,577 $80,443 $75,041 $70,558 $59,680
$56,175 $52,755 $49,943 $51,229 $50,015
$36,739 $34,687 $32,841 $31,474 $30,285
$55,735 $52,312 $49,502 $50,644 $49,379
Lapse Ratio Published
Rank 2002 2001 2000 1999 1998
1 4.3 4.3 4.7 4.7 4.4
2 9.3 8.9 9.5 9.5 9.3
3 7.7 7.6 13.0 9.7 9.4
4 4.4 4.5 7.6 8.5 8.5
5 7.1 7.2 7.9 8.2 7.1
6 9.0 9.2 10.1 11.6 11.2
7 6.1 8.0 8.7 9.0 8.7
8 8.0 9.0 8.9 9.9 8.3
9 6.1 6.3 6.6 6.4 7.2
10 5.5 5.8 6.6 8.6 9.2
11 6.8 7.8 9.4 9.3 9.2
12 10.0 8.1 9.9 10.9 8.8
13 5.5 4.9 5.9 0.7 10.5
14 7.3 6.8 5.0 6.3 7.5
15 23.7 18.4 8.1 7.5 6.9
16 5.2 4.7 6.9 6.1 5.8
17 6.3 5.0 6.0 6.0 6.3
18 6.0 5.8 7.2 8.1 8.8
19 7.8 15.8 7.6 13.0 8.2
20 15.6 15.8 14.7 14.5 14.6
21 6.4 6.1 2.6 8.2 19.8
22 2.2 2.2 2.8 2.8 2.3
23 5.8 0.3 14.8 10.6 14.3
24 7.2 6.5 6.7 6.7 6.7
25 6.8 7.0 8.3 8.3 8.4
7.9 8.9 7.9 8.8 7.9
5.9 5.6 6.0 6.3 7.8
7.6 8.4 7.7 8.4 7.9
4.3 4.9 5.3 5.6 6.0
7.6 8.3 7.6 8.3 7.9
Renewal Premium Persistency
Rank 2002 2001 2000 1999 1998
1 94.0 93.5 94.4 94.8 95.3
2 88.9 87.7 86.6 88.9 89.0
3 81.8 82.3 85.6 87.4 80.3
4 89.6 87.0 88.9 87.6 85.2
5 92.5 91.4 89.8 91.9 91.3
6 90.8 90.0 87.6 85.6 82.4
7 80.9 78.0 84.6 82.3 82.6
8 75.3 96.3 87.3 86.2 85.6
9 78.6 87.2 78.1 69.9 87.9
10 79.3 76.8 76.9 69.1 78.6
11 90.3 95.3 80.9 88.7 87.5
12 86.6 84.8 87.9 85.8 85.3
13 91.0 81.1 101.6 86.6 84.1
14 86.9 87.6 88.5 94.6 73.0
15 87.2 84.1 89.5 83.2 83.2
16 84.1 86.1 81.7 85.5 89.2
17 85.5 86.6 88.6 90.7 90.5
18 86.7 85.3 87.1 85.7 85.7
19 53.1 53.5 47.4 68.3 66.9
20 87.3 86.7 88.0 88.8 89.5
21 99.0 92.4 93.6 94.0 86.9
22 97.2 93.4 79.4 69.7 44.6
23 93.2 5.8 57.2 82.1 97.0
24 79.7 79.8 85.4 84.4 84.1
25 84.3 86.3 89.8 89.7 92.1
82.3 80.4 82.2 80.2 79.8
84.9 86.7 85.6 83.5 89.1
82.9 81.9 83.0 81.0 81.9
85.6 90.4 89.2 89.0 88.0
83.0 82.1 83.2 81.2 82.1
Source: A.M. Best Co., as of June 11, 2003
Total Life In Force,
Top Life Writers--2002
Total life insurance includes ordinary life, group life,
credit life and industrial life.
($ Thousands)
%
Rank Group Name AMB# In Force Change
1 Metropolitan Life & Affil 70192 $2,977,694,235 8.7
2 Prudential of America Group 70189 1,439,951,475 3.8
3 Swiss Reins Group 70176 1,187,576,787 -3.1
4 ING Group 70153 1,093,398,369 1.9
5 Aegon USA Inc 69707 959,080,262 4.6
6 Amer Intl Group 70342 844,985,465 8.5
7 Lincoln National Corp 70351 793,638,601 12.5
8 Hartford Life Inc 70116 760,463,945 6.8
9 Northwestern Mutual Group 69515 751,164,441 8.7
10 UnumProvident Group 69743 681,911,714 9.9
11 GE Finl Assur Group 69555 677,142,950 -2.5
12 New York Life Group 69714 656,619,354 8.9
13 Employers Re Group 70214 628,836,643 46.8
14 CNA Ins Group 70110 619,680,964 -5.1
15 Citigroup 70128 568,642,672 9.3
16 State Farm Group 70126 516,908,036 7.6
17 Cigna Corp 70173 491,214,866 -15.7
18 Zurich Ins Group 70130 471,233,631 8.3
19 Allstate Finl 70106 463,376,416 3.7
20 Munich Amer Reassur Co 6746 444,345,172 14.5
21 Aetna Inc 70202 412,033,163 -3.9
22 MassMutual Finl Group 69702 355,342,791 8.4
23 John Hancock Finl Svs Group 70170 343,403,241 10.6
24 Minnesota Mutual Group 69763 342,437,696 15.4
25 Equitable Group 70194 308,297,103 0.2
Top 25 Life Writers $18,789,379,992 5.8
Total U.S. Life Industry $26,831,568,365 6.1
Source: A.M. Best Co., as of June 11, 2003.
Total Life Issued,
Top Life Writers--2002
Total life insurance includes ordinary life, group life,
credit life and industrial life.
($ Thousands)
%
Rank Group Name AMB# Issued Change
1 Metropolitan Life & Affil 70192 $219,461,657 8.3
2 Amer Intl Group 70342 150,755,512 23.4
3 UnumProvident Group 69743 131,737,141 -6.1
4 Citigroup 70128 94,889,750 8.9
5 Northwestern Mutual Grout 69515 94,687,363 6.8
6 GE Finl Assur Group 69555 91,367,295 31.2
7 Prudential of America Group 70189 89,515,102 -13.5
8 Hartford Life Inc 70116 88,513,599 -8.3
9 Aegon USA Inc 69707 86,014,277 12.7
10 CNA Ins Group 70110 84,129,211 -44.9
11 New York Life Group 69714 82,285,409 14.2
12 State Farm Group 70126 79,327,989 -7.3
13 Business Men's Assur Co 06175 74,278,168 86.1
14 Protective Life Corp 69728 72,550,779 60.7
15 Zurich Ins Group 70130 66,663,536 -7.7
16 Allstate Finl 70106 65,745,954 -3.6
17 Legal & General America Inc 69539 48,676,565 18.6
18 Guardian Life 69685 46,851,626 10.8
19 Aetna Inc 70202 45,526,409 0.4
20 Minnesota Mutual Group 69763 45,375,938 -19.4
21 MassMutual Finl Group 69702 43,354,605 11.6
22 John Hancock Finl Svcs Group 70170 42,588,734 -28.1
23 Fortis Inc 70135 41,614,848 -44.1
24 Standard Ins Group 70398 41,039,819 -9.7
25 Jefferson-Pilot Corp 70156 40,899,180 30.6
Top 25 Life Writers $1,967,850,466 0.6
Total U.S. Life Industry $2,904,231,618 -0.9
Source: A.M. Best Co., as of June 11, 2003.
Group Life In Force,
Top Life Writers--2002
Group life insurance most often is issued to a group of
employees, but it may be issued to any group, provided
that it is not formed for the purpose of buying insurance.
($ Thousands)
%
Rank Group Name AMB# In Force Change
1 Metropolitan Life & Affil 70192 1,573,992,865 5.6
2 Prudential of America Group 70189 960,730,335 3.8
3 UnumProvident Group 69743 625,830,732 10.1
4 Hartford Life Inc 70116 433,390,657 18.3
5 Aetna Inc 70202 407,502,294 -3.8
6 Cigna Corp 70173 383,976,478 -17.8
7 ING Group 70153 266,757,553 1.8
8 Minnesota Mutual Group 69763 265,938,499 18.3
9 Amer Intl Group 70342 257,394,243 9.9
10 Standard Ins Group 70398 192,519,055 35.1
11 CNA Ins Group 70110 188,146,261 33.0
12 New York Life Group 69714 168,826,330 18.5
13 Sun Life Finl Group 69740 123,452,192 -12.7
14 Fortis Inc 70135 108,830,185 -0.1
15 Health Care Srvc Corp 69584 108,544,803 -3.7
16 Zurich Ins Group 70130 100,428,106 0.5
17 Jefferson-Pilot Corp 70156 95,612,553 62.4
18 Reliance Standard Life Group 69825 94,646,790 21.0
19 John Hancock Finl Srvcs Group 70170 88,056,769 3.6
20 Guardian Life 69685 85,018,247 6.1
21 Principal Life Ins Co 06150 71,843,981 1.9
22 Canada Life Assur Group 69653 70,130,901 8.3
23 GE Finl Assur Group 69555 66,145,467 -1.6
24 WellPoint Health Networks Inc 70064 65,867,872 -8.8
25 Mutual of Omaha Group 70203 65,021,235 -19.4
Top 25 Life Writers $6,868,604,403 5.5
Total U.S. Life Industry $8,038,155,248 3.1
Source: A.M. Best Co., as of June 11, 2003.
Term Life In Force,
Top Life Writers--2002
Term life insurance provides protection for a specified
period of time. It pays a benefit only if the insured's
death occurs during the coverage period.
($ Thousands)
%
Rank Group Name AMB# In Force Change
1 Swiss Reins Group 70176 $1,040,716,130 5.2
2 Metropolitan Life & Affil 70192 905,269,829 16.0
3 Aegon USA Inc 69707 647,497,563 8.6
4 Lincoln National Corp 70351 615,715,174 15.6
5 ING Group 70153 578,927,599 2.4
6 Employers Re Group 70214 535,692,777 49.6
7 Citigroup 70128 501,246,181 9.3
8 GE Finl Assur Group 69555 429,469,210 154.3
9 CNA Ins Group 70110 382,481,000 -7.4
10 Northwestern Mutual Group 69515 377,961,386 11.6
11 Munich Amer Reassur Co 06746 357,260,875 17.5
12 State Farm Group 70126 319,087,548 9.9
13 Amer Intl Group 70342 309,776,861 15.5
14 Zurich Ins Group 70130 276,323,552 15.8
15 Allstate Finl 70106 264,980,250 1.7
16 Allianz Ins Group 70187 230,705,006 18.4
17 Prudential of America Group 70189 202,519,803 12.1
18 New York Life Group 69714 193,769,730 9.5
19 Business Men's Assur Co 06175 192,290,503 42.4
20 Amer United Life Group 70399 181,542,639 7.2
21 Legal & General America Inc 69539 165,104,465 30.5
22 Sammons Finl Group 69731 147,000,260 17.8
23 Manulife Finl 69542 145,244,797 2.3
24 Berkshire Hathaway Group 70158 122,415,085 3.3
25 USAA Life Group 70364 118,414,980 15.2
Top 25 Life Writers $9,241,413,203 15.0
Total U.S. Life Industry $11,655,563,990 14.4
Source: A.M. Best Co., as of June 11, 2003.
Group Life Issued,
Top Life Writers--2002
Group life insurance most often is issued to a group of
employees, but it may be issued to any group, provided
that it is not formed for the purpose of buying insurance.
($ Thousands)
%
Rank Group Name AMB# Issued Change
1 Metropolitan Life & Affil 70192 $149,076,246 4.4
2 UnumProvident Group 69743 121,820,188 -6.5
3 Hartford Life Inc 70116 74,287,263 -9.9
4 Amer Intl Group 70342 54,953,476 91.7
5 Prudential of America Group 70189 48,655,810 -36.2
6 CNA Ins Group 70110 46,049,314 -63.0
7 Aetna Inc 70202 45,472,063 0.4
8 Standard Ins Group 70398 41,017,251 -9.6
9 ING Group 70153 38,024,231 11.3
10 Minnesota Mutual Group 69763 31,576,681 -28.3
11 Cigna Corp 70173 31,400,009 97.7
12 Reliance Standard Life Group 69825 31,399,598 54.7
13 Jefferson-Pilot Corp 70156 23,631,744 35.1
14 Guardian Life 69685 22,559,669 12.3
15 Sun Life Finl Group 69740 22,523,164 -5.1
16 Fortis Inc 70135 19,777,143 -22.2
17 UnitedHealth Group Inc 69973 14,215,938 38.0
18 New York Life Group 69714 12,824,392 36.1
19 Canada Life Assur Group 69653 12,793,897 -26.6
20 Mutual of Omaha Group 70203 10,733,269 35.3
21 Allstate Finl 70106 10,080,124 3.4
22 GE Finl Assur Group 69555 9,737,246 -12.1
23 Liberty Life Assur of Boston 06627 9,506,579 1.2
24 Aegon USA Inc 69707 8,680,181 0.9
25 Principal Life Ins Co 06150 7,994,416 -10.3
Top 25 Life Writers $898,789,892 -7.3
Total U.S. Life Industry $1,013,697,168 -11.8
Source: A.M. Best Co., as of June 11, 2003.
Term Life Issued,
Top Life Writers--2002
Term life insurance provides protection for a specified
period of time. It pays a benefit only if the insured's
death occurs during the coverage period.
($ Thousands)
%
Rank Group Name AMB# Issued Change
1 Citigroup 70128 $78,866,771 9.1
2 GE Finl Assur Group 69555 77,337,019 999.9
3 Business Men's Assur Co 06175 73,990,646 86.2
4 Northwestern Mutual Group 69515 64,969,660 7.6
5 Amer Intl Group 70342 63,846,750 11.6
6 State Farm Group 70126 62,884,278 -9.6
7 Zurich Ins Group 70130 57,888,182 2.0
8 Aegon USA Inc 69707 49,789,374 31.6
9 Legal & Gen America Inc 69539 48,020,546 17.9
10 Protective Life Group 69728 47,386,596 130.0
11 New York Life Group 69714 41,753,441 14.7
12 CNA Ins Group 70110 36,341,252 37.9
13 Allstate Finl 70106 32,188,881 -18.3
14 Prudential of America Group 70189 30,808,934 94.2
15 Sammons Finl Group 69731 27,781,830 -8.0
16 John Hancock Finl Svcs Group 70170 24,619,143 29.1
17 Lincoln Natl Corp 70351 22,705,784 11.8
18 USAA Life Group 70364 21,842,469 32.3
19 MassMutual Finl Group 69702 21,525,368 15.5
20 Metropolitan Life & Affil 70192 20,448,667 -8.2
21 Old Mutual US Life Hldgs 70403 16,399,744 45.7
22 MONY Group 70198 15,047,609 12.5
23 Aflac Inc Group 69824 13,873,621 7.6
24 Ohio Natl Life Group 69717 10,832,325 203.3
25 Jackson Natl Group 69571 10,364,727 34.5
Top 25 Life Writers $971,513,617 28.9
Total U.S. Life Industry $1,208,192,814 18.8
Source: A.M. Best Co., as of June 11, 2003.
Credit Life In Force,
Top Life Writers--2002
Credit life insurance is a group life insurance contract
whereby a creditor is protected if the insured dies
before the indebtedness is paid in full.
($ Thousands)
%
Rank Group Name AMB# In Force Chance
1 Fortis Inc 70135 $38,986,285 -13.4
2 Cuna Mutual Group 70262 38,215,899 -4.1
3 Amer Intl Group 70342 24,892,388 -3.4
4 Household Ins Group 69620 16,575,668 4.0
5 Citigroup 70128 16,380,006 -1.8
6 Protective Life Corp 69728 12,250,259 33.1
7 Combined Specialty A&H Group 70178 9,692,280 -13.8
8 Metropolitan Life &
Affiliated 70192 9,683,210 89.0
9 Aegon USA Inc 69707 8,037,425 -5.3
10 Minnesota Mutual Group 69763 7,446,098 -0.4
11 Amer Natl Group 70166 6,759,277 -8.0
12 Central States H&L Group 70363 5,013,779 -4.4
13 Allstate Finl 70106 4,239,977 -24.9
14 Service Life & Gas Ins Co 07992 4,131,853 -1.8
15 JMIC Life Group 69852 3,995,975 2.8
16 Zurich Ins Group 70130 3,874,181 -3.5
17 Employers Re Group 70214 3,704,469 -34.9
18 Centurion Life Ins Co 06276 3,012,936 -3.2
19 Life of the South Group 69913 2,936,984 -3.6
20 Amer United Life Group 70399 2,597,747 -0.2
21 Amer Road Ins Group 70200 2,486,096 -14.9
22 Guarantee Trust Group 69541 2,054,000 -3.0
23 Amerco 70367 1,966,232 -3.0
24 Enterprise Life Ins Co 08919 1,919,413 3.0
25 Munich Amer Reassur Co 06746 1,704,087 25.1
Top 25 Life Writers $232,556,524 -3.0
Total U.S. Life Industry $267,473,037 -5.5
Source: A.M. Best Co., as of June 11, 2003.
Ordinary Life In Force,
Top Life Writers--2002
Ordinary life insurance may be kept in force for a person's
whole life and pays a benefit upon the person's
death. Premiums for the policy are paid continuously
as long as the insured lives.
($ Thousands)
%
Rank Group Name AMB# In Force Chance
1 Metropolitan Life & Affil 70192 $13,090,879,319 12.2
2 Swiss Reins Group 70176 1,131,468,123 4.8
3 Aegon USA Inc 69707 893,301,589 5.9
4 ING Group 70153 825,455,258 1.9
5 Lincoln Natl Corp 70351 773,277,966 13.5
6 Northwestern Mutual Group 69515 750,424,110 8.7
7 GE Finl Assur Group 69555 609,736,331 -2.4
8 Employers Re Group 70214 601,900,734 45.8
9 Amer Intl Group 70342 560,908,290 8.5
10 Citigroup 70128 560,836,635 9.7
11 State Farm Group 70126 502,968,157 7.8
12 New York Life Group 69714 487,793,024 5.9
13 Prudential of America Group 70189 474,923,571 3.9
14 Munich Amer Reassur Co 06746 438,432,155 14.6
15 CNA Ins Group 70110 431,534,703 -15.7
16 Allstate Finl 70106 431,186,398 4.1
17 Zurich Ins Group 70130 366,931,344 10.8
18 Hartford Life Inc 70116 327,073,288 -5.4
19 Equitable Group 70194 307,633,759 0.2
20 MassMutual Finl Group 69702 304,002,000 9.1
21 John Hancock Finl Svcs Group 70170 255,341,844 13.2
22 Protective Life Corp 69728 251,021,171 29.3
23 Allianz Ins Group 70187 246,585,767 15.9
24 Manulife Finl 69542 227,894,757 -7.9
25 Sammons Finl Group 69731 203,056,764 11.4
Top 25 Life Writers $13,344,567,057 7.5
Total U.S. Life Industry $18,510,130,221 7.6
Source: A.M. Best Co., as of June 11, 2003.
Credit Life Issued,
Top Life Writers--2002
Credit life insurance is a group life insurance contract
whereby a creditor is protected if the insured dies
before the indebtedness is paid in full.
($ Thousands)
%
Rank Group Name AMB# Issued Change
1 Fortis Inc 70135 $19,931,895 -54.2
2 Cuna Mutual Group 70262 19,573,999 -9.5
3 Amer Intl Group 70342 9,479,166 -12.5
4 Household Ins Group 69620 7,331,572 -39.2
5 Amer Modern Ins Group 70206 7,150,153 32.3
6 Citigroup 70128 6,808,695 -9.6
7 Aegon USA Inc 69707 5,266,493 -1.7
8 Protective Life Corp 69728 4,538,090 -24.2
9 Minnesota Mutual Group 69763 3,617,479 0.4
10 Amer National Group 70166 3,600,426 -55.4
11 Allstate Finl 70106 3,084,730 28.6
12 Life of the South Group 69913 2,587,984 -14.6
13 Service Life & Cas Ins Co 07992 1,985,885 -10.2
14 Combined Specialty A &
H Group 70178 1,955,434 -19.2
15 Zurich Ins Group 70130 1,837,219 -8.9
16 Central States H & L Group 70363 1,831,322 0.5
17 JMIC Life Group 69852 1,754,697 1.0
18 Amer United Life Group 70399 1,646,788 -4.7
19 BankAmerica Group 70380 1,440,235 -45.6
20 Centurion Life Ins Co 06276 1,341,542 -1.2
21 Guarantee Trust Group 69541 1,107,505 -15.2
22 XL Life Ins and Annuity Co 08830 1,100,517 -23.1
23 Enterprise Life Ins Co 08919 918,627 -9.6
24 Southern Pioneer Group 70023 781,829 12.4
25 Amerco 71367 649,736 -1.0
Top 25 Life Writers $111,322,018 -26.0
Total U.S. Life Industry $120,364,660 -25.5
Source: A.M. Best Co., as of June 11, 2003.
Ordinary Life Issued,
Top Life Writers--2002
Ordinary life insurance may be kept in force for a person's
whole life and pays a benefit upon the person's
death. Premiums for the policy are paid continuously
as long as the insured lives.
($ Thousands)
%
Rank Group Name AMB# Issued Change
1 Northwestern Mutual Group 69515 $94,687,363 6.8
2 Citigroup 70128 88,081,055 10.6
3 Amer Intl Group 70342 86,322,870 4.5
4 GE Finl Assur Group 69555 81,571,420 39.5
5 State Farm Group 70126 78,723,773 -7.3
6 Business Men's Assur Co 06175 74,106,859 86.1
7 Aegon USA Inc 69707 72,067,603 15.5
8 Metropolitan Life & Affil 70192 70,385,411 17.7
9 New York Life Group 69714 69,461,017 10.9
10 Protective Life Corp 69728 67,918,415 74.0
11 Zurich Ins Group 70130 64,447,757 0.9
12 Allstate Finl 70106 52,581,100 -6.3
13 Legal & General America Inc 69539 48,673,203 18.7
14 Prudential of America Group 70189 40,709,392 50.8
15 CNA Ins Group 70110 38,079,897 35.2
16 John Hancock Finl Srvcs Group 70170 36,778,511 16.2
17 MassMutual Finl Group 69702 36,662,277 21.7
18 Sammons Finl Group 69731 36,459,661 10.3
19 Lincoln National Corp 70351 35,191,809 6.1
20 Torchmark Corp 70265 25,015,465 4.3
21 Guardian Life 69685 24,291,957 9.4
22 USAA Life Group 70364 22,804,810 32.1
23 Scor Life US Group 70253 22,179,817 169.0
24 Equitable Group 70194 20,712,152 7.6
25 MONY Group 70198 18,322,766 0.7
Top 25 Life Writers $1,306,542,360 17.5
Total U.S. Life Industry $1,770,168,544 9.3
Source: A.M. Best Co., as of June 11, 2003.
A Lagging Lagging Strategy used by a firm to stall payments, normally in response to exchange rate projections. Relationship Sales of variable life insurance appear closely correlated cor·re·late v. cor·re·lat·ed, cor·re·lat·ing, cor·re·lates v.tr. 1. To put or bring into causal, complementary, parallel, or reciprocal relation. 2. with prices of the S&P 500 Index of stocks, but since 1997 have mostly trailed the market trends. The graph graph, figure that shows relationships between quantities. The graph of a function y=f (x) is the set of points with coordinates [x, f (x)] in the xy-plane, when x and y are numbers. tracks variable life's share of new life-insurance premium vs. the index's price levels. [GRAPHIC OMITTED] Sources: Limra International's U.S. individual Life Insurance Sales, Limra estimates, Economy.com |
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