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US Life/Health — 2021 Ordinary Life Average Policy Size and Lapse Ratios — 2022 Edition

Insurers were ranked by 2021 ordinary life business issued.
  • September 2022
2021 Rank 2020 Rank Company/Group AMB#

Ordinary Life Issued ($000)

Average Policy Issued

Average Policy In Force

Lapse Ratio Published

Renewal Premium Persistency

2021 2020 2019 2018 2017 2021 2020 2019 2018 2017 2021 2020 2019 2018 2017 2021 2020 2019 2018 2017
1 1 Northwestern Mutual Group 069515 $197,913,592 $517,016 $516,626 $508,864 $487,848 $480,903 $340,162 $328,888 $319,320 $309,535 $300,869 2.9 3.3 3.7 3.9 3.9 95.3 94.5 94.2 93.8 94.5
2 2 Lincoln Finl Group 070351 117,217,581 1,122,043 869,272 981,709 691,053 606,706 286,669 254,129 230,448 211,165 199,242 5.0 4.6 5.7 4.8 4.3 80.5 71.0 71.3 73.0 74.4
3 3 State Farm Life Group 070126 115,355,930 164,081 165,583 162,815 139,471 138,400 128,372 124,863 121,177 117,468 114,846 4.6 4.5 5.5 5.0 5.4 94.5 94.1 93.9 92.9 93.2
4 5 New York Life Group 069714 100,249,919 334,316 331,452 313,567 301,030 298,924 202,745 195,154 188,824 182,497 173,930 3.8 4.1 4.8 4.4 5.0 94.8 94.3 93.3 93.6 94.1
5 4 Primerica Group 070183 97,842,676 322,942 300,785 315,563 304,378 295,939 294,618 289,610 287,465 282,587 277,802 6.0 6.2 7.6 7.8 7.6 92.9 92.2 91.2 91.2 91.4
6 6 Massachusetts Mutual Life Group 069702 96,822,888 676,152 705,506 647,847 617,719 539,165 414,120 395,835 373,385 342,291 321,648 3.5 3.3 -1.4 4.7 4.8 95.7 94.0 94.1 95.2 94.9
7 9 Protective Life Group 069728 86,627,129 583,513 517,912 478,503 488,749 533,454 281,021 265,113 259,116 253,415 266,405 5.0 6.2 4.9 5.2 4.1 124.4 78.0 92.0 86.8 86.4
8 7 Prudential of America Group 070189 69,830,315 697,104 713,767 691,323 692,409 519,244 316,983 313,471 310,451 297,609 286,392 2.6 3.5 3.1 4.3 4.1 80.1 78.0 78.4 76.5 79.6
9 13 Legal & Gen America Group 069539 62,854,807 599,731 587,988 597,227 581,041 592,218 578,122 573,827 568,719 563,642 560,529 4.4 3.5 3.9 3.5 3.7 97.9 94.7 96.8 94.8 95.3
10 8 Principal Finl Group Inc. 020516 59,819,916 996,999 945,584 994,954 1,033,078 974,796 775,489 751,221 723,089 688,869 650,138 1.5 1.6 1.8 2.1 2.1 96.5 93.3 92.1 91.9 91.8
11 14 Natl Life Group 069953 58,030,554 360,528 336,133 324,221 320,263 298,299 291,357 276,079 262,049 247,580 234,006 5.0 5.7 6.2 6.1 6.2 94.8 85.4 86.1 89.0 88.6
12 11 Aegon USA Group 069707 56,774,580 311,085 310,079 168,050 160,178 174,857 144,350 137,610 133,719 128,509 127,200 4.4 5.4 7.0 5.9 6.4 97.6 84.7 96.5 93.7 92.6
13 10 AIG Life & Retirement Group 070342 55,861,187 425,088 424,712 512,298 512,810 469,168 254,395 241,179 226,272 203,837 183,108 3.4 3.0 3.1 2.9 3.6 92.3 90.9 89.6 92.0 92.2
14 18 Sammons Finl Group 069731 50,166,172 522,042 485,065 410,926 373,517 361,325 303,067 282,202 265,936 258,067 252,504 4.9 4.7 5.0 5.1 4.5 58.2 69.2 63.0 51.9 55.0
15 16 Guardian Life Group 069685 46,016,919 938,470 920,268 851,307 832,647 823,756 370,367 343,672 318,169 300,450 276,668 3.5 3.9 4.0 3.8 3.6 95.1 95.0 94.6 95.7 95.4
16 12 Pacific Life Group 069720 45,342,621 786,106 766,915 729,822 741,646 806,492 113,562 99,722 85,520 75,476 71,769 4.9 3.8 6.0 5.9 5.0 84.5 78.7 75.3 72.2 74.5
17 15 Globe Life Group 070443 41,868,666 22,948 21,631 20,577 21,269 20,919 15,113 15,103 15,239 15,479 15,546 12.8 14.4 14.0 16.7 18.1 92.9 92.4 91.2 90.9 91.0
18 17 John Hancock Life Insurance Group 069542 38,853,792 1,025,734 1,051,728 913,924 1,028,934 1,121,371 361,403 343,268 325,852 328,802 296,642 4.0 4.4 9.7 -0.3 4.8 84.5 77.1 81.0 83.5 79.2
19 20 Penn Mutual Group 069722 36,540,830 1,171,030 1,022,404 934,996 804,305 771,295 588,376 528,499 480,057 459,411 427,721 2.8 3.0 3.6 4.3 3.7 88.1 85.5 79.0 76.9 78.2
20 21 Nationwide Life Group 070350 28,786,621 481,519 462,969 480,852 465,616 430,602 285,058 269,316 255,086 240,148 227,506 2.9 3.3 3.9 4.5 4.0 82.2 78.2 85.2 78.5 78.5
21 19 USAA Life Group 070364 27,062,629 475,843 460,370 451,378 403,098 400,425 372,658 366,750 360,122 353,804 349,126 2.7 2.7 3.1 3.0 2.8 96.5 96.2 95.5 95.3 95.1
22 26 Mutual of Omaha Group 070203 22,220,256 43,088 40,099 48,298 61,868 69,000 64,173 65,068 67,202 68,069 66,997 4.5 4.8 5.7 5.6 4.8 90.8 89.3 90.0 89.2 88.9
23 23 Equitable Life Group 070194 21,084,187 736,026 760,282 804,458 744,593 714,472 99,465 95,110 95,168 92,102 91,137 4.1 4.4 4.3 4.8 4.4 89.6 84.9 87.4 85.8 87.9
24 25 Farmers New World Life Ins Co 006373 19,689,522 240,383 239,809 238,287 231,489 214,273 192,554 188,812 184,901 180,512 176,027 4.5 4.7 5.2 5.5 5.5 96.8 96.0 94.8 94.5 94.2
25 28 Southern Farm Bureau Life Ins Co 007053 18,897,420 273,539 263,189 262,151 273,590 218,737 152,431 146,901 141,058 134,725 127,136 4.1 3.5 4.3 4.7 4.6 95.0 94.2 94.0 93.6 93.7
Total U.S. L/H Stock Cos $1,097,529,625 $169,549 $163,215 $157,611 $149,582 $145,626 $126,462 $117,909 $112,831 $108,329 $108,171 4.1 5.5 5.2 5.8 5.3 89.7 83.8 85.4 82.2 85.1
Total U.S. L/H Mutual Cos $836,779,832 $233,331 $229,881 $229,013 $214,342 $209,825 $172,400 $163,820 $155,618 $147,023 $124,020 3.8 3.9 4.2 4.7 4.7 92.2 90.0 90.0 89.8 90.6
Total U.S. L/H Fraternal Cos $40,088,353 $118,530 $114,949 $117,414 $112,547 $106,741 $67,552 $65,075 $62,804 $60,464 $60,062 3.4 3.5 4.1 4.0 3.5 90.5 90.5 92.7 92.9 93.3
Total U.S. Life/Health Industry $1,974,397,810 $189,889 $183,108 $178,204 $167,987 $163,441 $132,823 $124,147 $118,457 $113,248 $109,795 4.1 5.1 5.0 5.6 5.2 90.7 86.4 87.3 85.2 87.2

Source: BestLink logo – Statement File – L/H, US; data as of July 11, 2022.



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