Life Insurance Carriers Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/5/2018
SIC Codes: 6311, 6321
NAICS Codes: 524113
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Life Insurance Carriers Industry Profile

Companies in this industry underwrite life insurance and related products including annuities, long-term care, disability, and accidental death and dismemberment policies. Major companies include MetLife, New York Life, and Prudential Financial (all based in the US), as well as AEGON (the Netherlands), AXA (France), Nippon Life (Japan), and Prudential (UK).

Global life insurance premiums totaled more than $2.5 trillion in 2015, up 4% compared to 2014, when premiums grew by 4.3%, according to Swiss Re. The return to growth pushed global life premiums above the pre-financial crisis average. In emerging markets, life premiums grew 11.7% in 2015, compared to 6.9% the prior year. The rise was mainly driven by China, as well as the UAE, India, and Brazil. Premium growth in advanced markets dropped to 2.5% from 3.8% due to a significant slowdown in Western Europe, despite North America returning to growth after two years of decline.

The US life insurance industry includes about 10,000 establishments (single-location companies and units of multi-location companies) with annual revenue of about $500 billion.


Demand is driven by demographics and the economy. The profitability of individual companies depends on effective marketing and investment strategies and on the ability to accurately estimate future payments. Large companies take advantage of economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by providing specialized services to ...

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