In addition to last week’s
According to the report that measured domestic premiums of affiliated and unaffiliated U.S. companies and licensed foreign insurers that submitted their 12-month 2010 statutory statement by March 16, 2011, MetLife, Prudential and Manulife led all other life/health insurers in terms of 2010 admitted assets.
The information for each company or group in the report includes admitted assets, separate account assets and net premiums written (NPW).
On the life/health side, continued progress was made toward recovery from the financial crisis. The U.S. life/health industry’s 2010 financial results recovered lost ground as key economic indicators improved. This is reflected in admitted assets, after-tax net operating gain (albeit modestly lower than prior year) and capital trends while NPW resumed growth, according to A.M. Best.
Total admitted assets for the U.S. life/health industry increased 7.1% from year-end 2009 to $5.3 trillion. The U.S. life/health industry recorded an after-tax net operating gain of $42.2 billion in 2010. Capital and surplus, including the asset valuation reserve, increased 8.7% to $338.4 billion from year-end 2009. NPW increased 14.5% to $543.5 billion in 2010 for the total U.S. life/health industry compared to the same period in 2009. This reflects the first time annual NPW has advanced since year-end 2008.
The top 25 U.S. life/health writers in 2010 and their admitted assets as of Dec. 31, 2010 ($ thousands):
1. Metropolitan Life & Affiliated Cos. —$575,047,945
2. Prudential of America Group—$403,755,468
3. Manulife Financial—$237,274,447
4. SunAmerica Financial Group—$230,322,535
5. Hartford Life Group—$228,628,548
6. TIAA Group—$217,744,582 (A.M. Best notes that TIAA's assets are significantly understated. Most of its separate account assets are in its affiliate, CREF.)
7. NY Life Group—$214,437,508
8. Aegon USA Group—$187,617,251
9. ING USA Life Group—$185,172,540
10. Northwestern Mutual Group—$180,065,915
11. Lincoln Financial Group—$169,444,381
12. Axa Financial Group—$149,486,524
13. MassMutual Financial Group—$141,142,242
14. Principal Life Group—$122,047,383
15. Pacific Life Group—$102,642,324
16. Nationwide Life Group—$100,687,178
17. Jackson National Group—$98,437,294
18. Ameriprise Financial Group—$94,059,102
19. Aflac Inc. Group—$90,127,538
20. Allianz Insurance Group—$85,974,112
21. Allstate Financial—$69,649,791
22. Sun Life Financial Group—$67,626,228
23. Genworth Financial Group—$64,056,698
24. Thrivent Financial for Lutherans Group—$62,235,543
25. State Farm Life Group—$52,923,089
