More than 118 million Americans, or 52 percent, over age 18 do not own life insurance in 2012, compared with 51 percent last year, according to a Genworth Financial phone survey of more than 25,000 adults. However, based on annualized premium dollars, the industry grew 4 percent in 2011, according to LIMRA, and according to A.M. Best, it grew 3 percent in the first six months of this year.

Net operating earnings for the U.S. life/health industry are also up, having increased 19.5 percent to $23.3 billion in the first half of 2012, compared with $19.5 billion generated for the same period in 2011, according to A.M. Best. Statutory net income increased 33.8 percent to $19.1 billion for the first six months of 2012, compared with $14.3 billion for the same period last year. The increase was predominantly due to higher operating earnings and lower realized losses.

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