Best’s News & Research Service - July 16, 2021 10:55 AM (EDT)
2021 Best’s Rankings: US Total Life in Force Rises 4.5%
OLDWICK, N.J. //BestWire// - U.S. total life in force insurance increased 4.5% to $55.39 trillion, according to a new Best’s Rankings.
MetLife Life Insurance Cos. retained the lead in the list of the top 100 U.S. life insurers ranked by 2020 total life business in force, the Best’s Rankings found, with $4.48 trillion, a 0.8% decrease from the prior year.
Four of the 10 carriers with the largest U.S. total life in force experienced double-digit growth. New York Life Group’s business increased 35.2% to $3.13 trillion. It remained fourth-largest, behind No. 2 Prudential of America Group, with a $4.45 trillion of total life in force, and Great-West Life Group’s $3.74 trillion.
The top 100 insurers accounted for $54.6 trillion of life in force insurance in the United States last year.
Fields in the two-page AM Best report include: total life in force, percent change, and market rank for 2019 and 2020.
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(By Renée Kiriluk-Hill, associate editor, BestWeek: Renee.Kiriluk-Hill@ambest.com)