Best’s News & Research Service - June 27, 2025 10:53 AM (EDT)
Best's Rankings: 2024 US Individual Life Premiums for Life Contracts Rise 52.2%
OLDWICK, N.J. //BestWire// - The U.S. life/health industry reported individual life premiums for life contracts increased 52.2% in 2024 to reach $137.57 billion, as Northwestern Mutual Group held on to the top spot, according to a new Best's Rankings report.
Northwestern Mutual Group had 2024 individual life premiums of $17.93 billion in 2024, an increase of 5.5% from the prior year, according to the data.
New York Life Group moved up one spot to the second-place position with its $10.88 billion in individual life premiums in 2024 registering a 12.6% increase, according to the ranking.
Massachusetts Mutual Life Group rose one spot to third, reporting a 1% increase in individual life premiums to $9.48 billion for the year, according to the data.
No. 4 Prudential of America Group moved down two spots from 2023 with its $8.77 billion in individual life premiums down by 17.7%, according to the ranking.
The one-page ranking lists insurers and ranks them by individual life premiums and the percentage change from the prior year.
Subscribers can access the report and data here.
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AM Best data sourced from Best’s Financial Suite, US.
(By Terrence Dopp, senior associate editor, Best’s Review: Terry.Dopp@ambest.com)