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.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access