The U.S. life insurance industry--which includes companies that provide annuity-based products--has stabilized somewhat during 2009.
Conning Research predicts net after tax statutory income of $16 billion in 2009. This is despite $20 billion in capital losses for the industry in 2009.
Annuities were the most painful and volatile segement for insurers, producing a $4 billion loss in the combined 2008 - 2009 period. Much of this came from losses on living benefit guarantees associated with variable annuities.
The life insurance segment was much more stable on a comparative basis, producing an $8 billion net operating gain.
Source: Conning Research
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