Best’s News & Research Service - July 25, 2025 10:59 AM (EDT)
Best's Rankings: US Group Life in Force Increased 4.1% in 2024
OLDWICK, N.J. //BestWire// - Group life insurance business in force among U.S. carriers rose 4.1% to $24.57 trillion in 2024, according to a new Best's Rankings report.
Great-West Life Group moved up one spot to No. 1 as it reported group life in force of $5.05 trillion, an increase of 5.9% from 2023, according to the report. MetLife Life Insurance Cos. moved down a spot to second, with $4.97 trillion of life in force, which was up 4.1% from the prior year.
Prudential of America Group retained third place with $2.26 trillion of group life in force for 2024, down by 1% from the prior year, according to the report. Securian Financial Insurance Group moved up one spot to fourth with group life in force of $2.14 trillion, an increase of 12.6% from 2023. That was the largest percentage gain among the top 10 carriers.
New York Life Group came in at No. 5, after moving down a position from a year earlier. Its $2.02 trillion in group life in force was down 1.7%, according to the report.
The report lists the top 100 companies/groups, their ranking in 2024 and 2023, their policies in force in 2024 and the percentage change over the 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)