NAIC names top 25 life carriers by market shareNews added by National Underwriter on March 14, 2013
National Underwriter

National Underwriter

Joined: April 22, 2011

By Warren S. Hersch

Metropolitan Group, the parent company of MetLife, ranks highest among 25 life insurers in terms of market share by direct premiums, according to a new report.

The National Association of Insurance Commissioners, Washington, D.C., released this finding in a summary of results from the NAIC’s 2012 market share data for life/fraternal and property/casualty insurers. The data includes country-wide direct written premium for the top 25 groups and companies as reported on the State Page of the annual statement for insurers that report to the NAIC.

In the survey, Metropolitan Group (of which Metropolitan Life Insurance Company is a part) ranks number one with 9.99% of market share. The next five life insurance companies by market share include Aflac Group (6.91 percent), Prudential of American Group (6.14 percent), Northwestern Mutual Group (5.62 percent) and New York Life Group (4.78 percent).

These top 25 companies reported to the NAIC direct premiums as follows:
    1. Metropolitan Group: $16 billion
    2. Aflac Group: $11.1 billion
    3. Prudential of America Group: $9.9 billion
    4. Northwestern Mutual Group: $9 billion
    5. New York Life Group: $7.7 billion
    6. Lincoln National Group: $5.8 billion
    7. John Hancock Group: $5.2 billion
    8. MassMutual Life Insurance Group: $4.8 billion
    9. Aegon U.S. Holding Group: $4.2 billion
    10. State Farm Group: $3.9 billion
    11. American International Group: $3.6 billion
    12. Guardian Life Group: $3.3 billion
    13. AXA Insurance Group: $3.3 billion
    14. Hartford Fire & Casualty Group: $3.2 billion
    15. ING American Insurance Holding Group: $3.0 billion
    16. Minnesota Mutual Group: $2.7 billion
    17. Pacific Life Group: $2.7 billion
    18. Protective Life Insurance Group: $2.5 billion
    19. AllState Insurance Group: $2.1 billion
    20. Genworth Financial Group: $2.1 billion
    21. Sammons Enterprises Group: $2.1 billion
    22. Primerica Group: $1.9 billion
    23. Principal Financial Group: $1.9 billion
    24. Nationwide Corp Group: $1.9 billion
    25. UnumProvident Corp Group: $1.8 billion
Originally published on LifeHealthPro.com
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Press Release