Ward Group, provider of benchmarking and best practices services to the insurance industry, has announced the 2013 Ward’s 50 top performing life/health insurers. Each Ward's 50 company has passed all safety and consistency screens and achieved superior performance over the five years analyzed. This is the 23rd year Ward Group has conducted the analysis.
Ward Group analyzes the financial performance of nearly 800 life/health insurers in the United States annually and identifies top performers in each segment. The Ward’s 50 life/health group produced a 19.7-percent statutory return on average equity from 2008 to 2012 compared to 4.3 percent for the life/health industry overall.
“After several years of weaker revenue gain and sluggish economic conditions, financial returns for insurers improved in 2012,” said Jeff Rieder, partner and head of Ward Group. “Most insurance sectors are experiencing revenue growth and insurance companies appear more optimistic as they look toward the future. Total policyholder surplus continues to grow and overall financial stability for the industry remains very strong. In selecting the Ward’s 50, we identified companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results.”
In addition to greater levels of income returns, the Ward’s 50 benchmarks also outperformed in other key performance benchmarks. The Ward’s 50 life/health group of companies outpaced the industry for five-year policyholder surplus growth, 50.1 percent compared to 37.0 percent, and net premium income growth, 20.7 percent compared to 6.7 percent, Ward Group said. In addition to achieving higher financial returns, the Ward’s 50 benchmark continues to achieve lower expense ratios.
“The expense ratio declined slightly in 2012 for both the life/health and property-casualty industries and we still find the Ward’s 50 benchmarks comparing better than the industry average,” Rieder said. In 2012, expenses relative to revenue were 1.0 percent lower for the Ward’s 50 life/health group.
Aetna Life Insurance Company
AFLAC
Amalgamated Life Insurance Company
American Equity Investment Life Insurance Company
American Family Life Insurance Company
American Fidelity Assurance Company
American Health and Life Insurance Company
American Republic Insurance Company
Americo Financial Life and Annuity Insurance Company
Amica Life Insurance Company
Auto-Owners Life Insurance Company
Bankers Life & Casualty Company
BlueBonnet Life Insurance Company
Boston Mutual Life Insurance Company
CICA Life Insurance Company of America
CIGNA Group
Combined Insurance Company of America
Companion Life Insurance Company
Farm Bureau Life Insurance Company
Farmers New World Life Insurance Company
Federated Life Insurance Company
Fidelity Security Life Insurance Company
First Investors Life Insurance Company
Forethought Life Insurance Company
Funeral Directors Life Insurance Company
General Re Life Insurance Corporation
Great American Life Insurance Company
HCC Life Insurance Company
HM Life Insurance Company
Homesteaders Life Company
Humana Insurance Company
Liberty National Life Insurance Company
Life Insurance Company of the Southwest
LifeCare Assurance Company
LifeWise Assurance Company
Midland National Life Insurance Company
National Teachers Associates Life Insurance Company
National Western Life Insurance Company
Ozark National Life Insurance Company
Protective Life Insurance Company
RiverSource Life Insurance Company
Standard Insurance Company
Symetra Life Insurance Company
Tennessee Farmers Life Insurance Company
Thrivent Financial for Lutherans
Trustmark Insurance Company
United Insurance Company of America
UnitedHealthcare Insurance Company
Unum Life Insurance Company of America
USAA Life Insurance Company
For last year’s results,
To see the 2013 property/casualty list and more about the methodology,
