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
The companies in the top 25 showing the greatest declines in admitted assets, A.M. Best reported, were
The study, however, noted two companies recording year-over-year gains.
Ken Janke, Aflac's SVP of investor relations, said in the release that the primary reason for the gain was the 25% increase in the value of the Japanese yen versus the dollar from the end of 2007 to the end of 2008.
A.M. Bests Edelsberg noted that general account assets for the top 25 increased 2% from the previous year. He said he thinks this was driven by the three mutuals
Top-ranked