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Steady Describes The Top 10 Separate Account Assets Resume Growth

By Jim Connolly

Steady is the word that best describes the top 10 companies with the most net admitted assets for separate accounts, according to data provided by National Underwriter Insurance Data Services.

For the years 2001 through 2003, Hartford Life Insurance Company retained the number 1 spot in this listing. The number 2 and 3 spots were held by Prudential and Nationwide Life, respectively.

Steady also describes the market share of the top 10 companies against the total assets for the 100 listed companies. The top 10 comprised 45% of the assets of the top 100 insurers in the category in 2003; 45.2% in 2002; and, 44.3% in 2001.

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The percentage of the top 10 companies increased in 2002, at least in part, because net admitted assets in 2002 declined less for these top insurers than for the top 100 as a group.

For the top 100 insurers as a whole, 2002 net admitted assets for separate accounts declined to $927.2 billion, 91.2% of 2001s $1.01 trillion total. The top 10 insurers witnessed a decline to $418.5 billion in 2002, 93% of the $450.1 billion total in 2001.

In 2003, net admitted assets for separate accounts improved with a rebound in the stock market. For the top 100 insurers, according to National Underwriter Insurance Data Services, the total increased to $1.15 trillion, 124% of 2002s $927.2 billion.

The top 10 insurers 2003 net admitted assets for separate accounts also grew 124% to $519.4 billion over 2002s $418.5 billion. But the increase was based on a 2002 total that had declined less than for the group as a whole.


Reproduced from National Underwriter Edition, July 2, 2004. Copyright 2004 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.