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August 23, 2010 at 08:00 PM
The economic chaos of late 2007 and 2008 showed in last year’s top 200 report that most of the industry’s biggest companies had taken more than their fair share of financial lumps. It is a year on, and the country officially pulled out of recession in 2009, so how is the L/H industry faring?
In admitted assets, 19 of the top 25 showed improvments over last year. The same is not quite true of the premium growth, in which only 13 out of the top 25 also showed improvment, and in some cases, top companies showed significant declines. In individual premiums, 15 of the top 25 showed growth, though none of the top three did. In group life premiums, total in-force, and net investment income, nearly half of the top 200 showed decreases. Net investment income showed some startling losses.
The overall picture seems to mirror the larger economy’s slow, but gradual revitalization, with many firms still struggling to stave off losses and to regain their former strength/ Perhaps next year will tell a different story.
