Individual life insurance sales grow at rapid clip in Q1

July 5, 2021 by Rozelle Alyssa JavierKris Elaine Figuracion

Increased consumer awareness about life insurance amid the COVID-19 pandemic may have played a key role in boosting sales in the first quarter of 2021, as the industry recorded the largest increase in total life premiums in a first quarter since at least 2018.

The life insurance market logged $48.93 billion in total life premiums in the first quarter, an 8.1% increase from $45.26 billion in the prior-year quarter, an S&P Global Market Intelligence analysis showed.

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Originally Posted at S&P Global Market Intelligence on June 30, 2021 by Rozelle Alyssa JavierKris Elaine Figuracion.