There are many predictions of how long the current global financial crisis and economic downturn will last. Some say the end of 2010, some say longer. In either case, Robert Kerzner, president and CEO of LIMRA International and LOMA, predicts the U.S. life insurance industry will look different when that time comes, according to an A.M. Best story. He says companies will have exited lines of business that are just too risky or hard to price, or be merged into or acquired by others.

If Q4 reports are any indication, Kerzner could be right. New annualized premium for individual life insurance saw a 14% drop in the fourth quarter of 2008, ending the year with an overall 7% decline, according to LIMRA’s quarterly sales survey.

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