2026 Best's Rankings: US Individual Life Lapse Ratios Dropped to 5.6 in 2025
OLDWICK, N.J. //BestWire// - U.S. individual life insurers saw the total industry lapse ratio drop to 5.6 in 2025, down from 7.0 in the year prior, according to a new Best’s Rankings report.
The sector’s renewal premium persistency stood at 86.5 this past year, down from 87.6 in 2024. The average in-force policy issued fell to $170,000 from $189,000 the year prior.
Northwestern Mutual Group held onto the No. 1 spot in 2025 with $188.27 billion in individual life insurance policies issued. The company’s lapse ratio was 3.7 and its renewal premium persistency was 94.0, down slightly from 94.1 a year earlier.
No. 2 State Farm Life Group’s 2025 individual life policies issued reached $129.0 billion, followed by No. 3 New York Life Group with $119.68 billion in life issued.
Pacific Life Group moved up one spot to No. 4 with $106.79 billion in policies issued.
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AM Best data sourced from Best’s Financial Suite, US
(By Anthony Bellano, associate editor, Best's Review: anthony.bellano@ambest.com)