Best's Rankings: US 2024 Individual Term Life Issued Increased 2.4%
OLDWICK, N.J. //BestWire// - U.S. individual term life insurance issued rose 2.4% to $1.45 trillion in 2024 for both the total U.S. life/health industry and the top 100 writers, according to a new Best's Rankings report.
For the top 25 writers, individual term life issued rose 5.0% to $1.23 trillion. individual term life issued rose 3.6% to $1.40 trillion for the top 50 writers.
Top-ranked Northwestern Mutual Group saw term life issued fell 3.5% to $139.37 billion in 2024. For second-ranked Legal & General America Group, term life issued rose 24.3% to $129.96 billion. At No. 3, Primerica Group had a 2.3% increase in term life issued to $110.58 billion.
Northwestern Mutual maintained its top position from the previous year while Legal & General America and Primerica traded places.
Prudential of America Group broke into the top 10, rising to No. 7 from No. 11 as its term life issued rose 30.5% to $61.93 billion.
The two-page report measures individual term life issued in 2024, percentage change and company ranking in 2024 and 2023.
Subscribers can access the report and data here.
Learn more about Best's News and Research Service.
AM Best data sourced from Best's Financial Suite, US.
(By David Pilla, news editor, BestWire: David.Pilla@ambest.com)