Life Insurance

  • US Life/Annuity Investment Portfolio Yields Rebound In 2023
    US Life/Annuity Investment Portfolio Yields Rebound In 2023

    US L/A insurers performed well despite concerns about financial market uncertainty, particularly in commercial property lending

    Rising interest rates in 2023 helped boost the portfolio yields of U.S. life/annuity insurers by nearly 30 basis points, to 4.74% from 4.47% in the previous year, according to a new AM Best report.
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  • Life Insurance Sales Dip Slightly In First Quarter 2024
    Life Insurance Sales Dip Slightly In First Quarter 2024

    Total life insurance new premium was $3.76 billion in the first quarter, down 1%

    Total U.S. individual life insurance new annualized premium slipped 1% year over year to $3.76 billion in the first quarter, according to LIMRA’s preliminary U.S. Life Insurance Sales Survey.
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  • MIB Life Index
    MIB Life Index

    U.S. life insurance application activity achieved double-digit growth in Aril 2024

    U.S. life insurance application activity saw double-digit growth in April 2024 compared to April 2023, with Year-over-Year (YOY) activity up +10.3%. This is the first month since April 2021 that activity in the U.S. has seen double-digit YOY growth in any month.
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  • Retirement Investors — Behaviors, Attitudes, And Financial Situations
    Retirement Investors — Behaviors, Attitudes, And Financial Situations

    Future retirees face a different reality and increasingly look to annuities for financial security

    Over the past several years, there has been a great deal of attention focused on the huge number of Baby Boomers retiring. More than 11,000 Americans are turning 65 each day — equating to over 4 million a year.
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  • 2024 Insurance Barometer Study
    2024 Insurance Barometer Study

    Disability Insurance Awareness Month: protecting your paycheck and your future

    Although no one likes to think about it, the likelihood of a disability is more common than people realize. The Social Security Administration reports that about 1 in 4 of today’s 20-year-olds will become disabled before reaching retirement age.
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  • Strong Year For U.S. Workplace Benefits Sales In 2023
    Strong Year For U.S. Workplace Benefits Sales In 2023

    U.S. Workplace life insurance new premium was up 6% over prior year results

    New annualized premium for workplace life insurance, disability insurance and supplemental health products posted solid gains for the year, according to LIMRA’s workplace benefits sales surveys.
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  • U.S. Annuity Sales Surge To Strongest First Quarter Ever
    U.S. Annuity Sales Surge To Strongest First Quarter Ever

    Total annuity sales jumped 21% to $113.5 billion.

    Total U.S. annuity sales were $113.5 billion in the first quarter of 2024, 21% above prior year results and just shy of the quarterly sales record set in the fourth quarter 2023, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey.
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  • Benefits & Reserves Outpace Revenue Growth, Dampening Earnings For Publicly Traded US Life/Annuity Insurers
    Benefits & Reserves Outpace Revenue Growth, Dampening Earnings For Publicly Traded US Life/Annuity Insurers

    Changes in the fair value of embedded derivatives and customer withdrawals and surrenders, as well as increases in reserves, drove benefits higher

    Total GAAP revenue of publicly traded U.S. life/annuity companies rose year over year by 2.3% in 2023 to $287.2 billion, aided by 20% growth in investment income. However, according to a new AM Best report, a higher level of benefits paid and reserve increases led to a 43% decline in net income to $18.7 billion.
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  • Benefits & Reserves Outpace Revenue Growth, Dampening Earnings For Publicly Traded US L/A Insurers
    Benefits & Reserves Outpace Revenue Growth, Dampening Earnings For Publicly Traded US L/A Insurers

    Changes in the fair value of embedded derivatives and customer withdrawals and surrenders, as well as increases in reserves, drove benefits higher

    Total GAAP revenue of publicly traded U.S. life/annuity companies rose year over year by 2.3% in 2023 to $287.2 billion, aided by 20% growth in investment income. However, according to a new AM Best report, a higher level of benefits paid and reserve increases led to a 43% decline in net income to $18.7 billion.
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  • The Millennial Approach To Estate Planning
    The Millennial Approach To Estate Planning

    From financial strains to future gains-- how a generation is preparing for the the unpredictable

    Trust & Will, the leading digital estate planning and settlement platform in the U.S., releases the findings of its fourth annual Millennial Estate Planning Study, providing insight from nearly 15,000 Millennials on end-of-life and estate planning preferences.
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  • First Look: 2023 US Life/Annuity Financial Results
    First Look: 2023 US Life/Annuity Financial Results

    U.S. L&A industry sees 5.7% net income decline in 2023

    The U.S. life/annuity (L/A) industry posted a 5.7% decline in net income to $37.6 billion in 2023, which included $15.0 billion of net realized capital losses, according to AM Best.
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  • Consumers Express Low Knowledge Of Multi-Cancer Early Detection Tests
    Consumers Express Low Knowledge Of Multi-Cancer Early Detection Tests

    More than half say they’d be interested in taking a blood test to screen for cancer

    If you could take a blood test to detect certain types of cancer, would you take it? If it was offered through your life insurance company, would you be confident that your information would be kept private?
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  • U.S. Life Insurance Application Activity Flat In Q1-2024 Compared To Q1-2023
    U.S. Life Insurance Application Activity Flat In Q1-2024 Compared To Q1-2023

    Q1-2024 shows growth for ages 31-50 and 71+

    U.S. life insurance application activity ended Q1-2024 flat at +0.3% Year-to-Date (YTD), with activity in March down -6.6% Year-over-Year (YOY) compared to March 2023 following 5 months of growth or flat activity. The YOY decline may have been driven, in part, by fewer business days in March of 2024 (21 business days) vs March of…
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