U.S. life insurers’ direct premium revenue increased to $657 billion in 2007, up 10% from the 2006 total.
Researchers at Highline Data, Cambridge, Mass., a unit of Summit Business Media L.L.C., New York, have published those figures in a summary of data drawn from the company’s latest 2007 life insurance industry data update.
Preliminary 2007 totals are available through Insurance Analyst PRO, a Web-based database that includes detailed statutory financial data from all available blanks.
The database now includes information from 857 companies, or about 92% of all life insurance companies that are expected to file 2007 blanks and 98 of the top 100 filers, according to Highline Data, which is a sister company of The National Underwriter Company, the publisher of the NU Online News Service.
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Direct premium revenue grew 16% for individual life insurance products, 9.1% for individual annuities, and 3.9% for group annuities.