MetLife retains its top spot among top-tier life insurers increasing its direct written premiums by 0.25 percent through the first half of 2013, according to SNL Financial.
In its Q2 rankings, SNL noted that life premiums, comprising ordinary and group life, are concentrated among a small number of companies, with 50.2 percent of premiums written by the 10 largest top-tier insurance entities. SNL groups MetLife, Northwestern Mutual, Prudential Financial and New York Life account for almost one-third (31.4 percent) of all life premiums.
Lincoln National enjoyed the biggest jump in premiums, an 11.05 percent increase, while Manulife, which was one of only two insurers to see a decrease in DPW (the other being AEGON NV) took the biggest hit, with a decrease of 9.11 percent. Here are the full 10 with DPW for the first of 2013 in parenthesis:
1. MetLife ($7.67 billion)
2. Northwestern Mutual Life ($6.29 billion)
3. Prudential Financial ($5.58 billion)
4. New York Life ($5.06 billion)
5. Lincoln National ($3.05 billion)
6. Mass Mutual ($2.88 billion)
7. Manulife Financial ($2.55 billion)
8. State Farm ($2.14 billion)
9. Guardian Life ($2.05 billion)
10. AEGON NV ($2.03 billion)
With a 9.37-percent increase, Prudential notched the second-largest increase of the first half of 2013, followed by Mass Mutual (+8.35 percent) and Guardian Life (+6.19 percent).
While Guardian Life switched spots with AEGON and Manulife dropped two, bumping both Lincoln National and Mass Mutual up one spot, the rest of the top 10 remains the same as a year ago.
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