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The United States suffered from weaker life insurance premium growth in 2004 than any other major life market in the Western Hemisphere.
Researchers at Swiss Reinsurance Company, Zurich, have published statistics supporting that conclusion in their annual world insurance market review.
The researchers found that overall world life premium revenue increased 2.3% between 2003 and 2004, to about $1.8 trillion, when expressed in terms of inflation-adjusted U.S. dollars.
But growth in life premium revenue lagged behind growth in world gross domestic product, which increased 4% in “real,” inflation-adjusted terms, to a total of $40 trillion.