The hits for life/health insurers just keep on coming. According to a recently released A.M. Best Statistical Study, only two of the top 25 U.S. life/health writers were immune from a decline in total admitted assets last year. Study data went on to show a 10.1% decline in admitted assets at the end of 2008 to $3.6 trillion, and an 8.7% decline for the entire industry to $4.6 trillion.
A substantial decline in separate account assets at 28% year-over-year from the downturn in the equity markets, said Andrew Edelsberg, VP of A.M. Best Co., was the major driver for the decline. Admitted assets, he said, includes both general account assets and separate accounts.
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