4 of the Top 5 Life Insurers Increased 2017 Revenue: NAIC
March 5, 2018 by Allison Bell
Four of the five biggest life and health insurers have reported solid revenue growth for 2017, according to new data from the National Association of Insurance Commissioners.
Life and health groups brought in about $820 billion in life and health premiums, annuity considerations, and other life and health considerations last year, up 0.9% from the total carriers reported for 2016.
Five groups continued to sit at the top of the NAIC’s life and health revenue chart: MetLife Inc., UnitedHealth Group Inc., Prudential Financial Inc., New York Life Insurance Company, and Aetna Inc.
Life and health revenue at MetLife fell 7.5%, to $95 billion.
MetLife put its individual life and annuity operations in a separate company, Brighthouse Financial Inc., in 2017. The NAIC has not included separate entries for Brighthouse in the 2017 revenue rankings. It was not clear at press time whether the MetLife figures in the rankings include or exclude Brighthouse.
Life and health revenue at the fourth other carriers in the top five increased 6.2%, to $165 billion.
UnitedHealth ranked first in terms of revenue growth. Its life and health revenue increased 12%, to $52 billion.
The NAIC breaks out separate revenue figures for life insurance issuers and for annuity issuers.
Total life insurance direct premium revenue increased 1.1%, to $162 billion.
The annuity considerations total fell 5.9%, to $238 billion.
The NAIC is a Kansas City, Missouri-based group for insurance regulators. It bases the preliminary revenue reports released in March on information in the annual insurer financial reports filed by early March. The NAIC updates the preliminary reports several times as new insurer filings come in. This year, the NAIC intends to update the reports every Monday in March.
Links to the complete reports are available here.
