NU Online News Service, Oct. 13, 2003, 6:05 p.m. EDT – The American Council of Life Insurers, Washington, has just released the “Life Insurers Fact Book 2003.”
The tables in the 2003 book show strength in individual products but a softening in sales of group products.
The fact book chapter on life insurance shows that the face value of life insurance sold to individual customers increased 9.5% between 2001 and 2002, to $1.8 trillion, while the face value of life insurance sold to groups fell 13%, to $1 trillion.
The chapter on annuities shows that sales of individual annuities increased 19%, to $168 billion, while sales of group annuities fell 8%, to $101 billion.
ACLI has posted a copy of the fact book at http://www.acli.com/ACLI/About+ACLI+nonmember/Industry+Facts/Life+Insurers+Fact+Book+2003.htm