Sunday, December 02, 2007

U.S. Individual Life Insurance Premium

Windsor, CT, Dec 2, 2007 — LIMRA International reports U.S. individual life insurance premium increased twenty percent in third quarter 2007 resulting in an eight percent increase for the first nine months of 2007 over 2006.

"Corporate-owned life insurance (COLI) (cases of 200 lives or less) and private placement sales made a significant impact this quarter," said Ashley Durham, LIMRA analyst for product research. "In addition, companies noted that increased service to and expansion into new distribution channels (such as BGAs/MGAs/wholesalers) also affected sales tremendously.”
LIMRA also reports that total face amount in the third quarter rose by six percent over 2006, while the total number of new policies sold declined by one percent.
All products were up through the first nine months of 2007, especially universal and variable universal life, which were up 9 and 10 percent (23 and 55 percent for the quarter). Year-to-date, term life grew seven percent and whole life grew three percent.
The biggest portion of the sales increases seen through the third quarter stem from the brokerage channel. In fact, with the exception of WL, all products were up especially UL and VUL which were up 16 and 19 percent for the year and 28 and 110 percent for the quarter.
Universal life continued to hold the lion's share of annualized premium through the September of 2007 at 40 percent while term and variable universal life remained steady at 23 and 15 percent respectively. View the latest data table on U.S. life sales trends . For more statistics, visit the newly updated Data Bank .
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

ICICI Bank

ICICI Bank is India's second-largest bank with total assets of Rs. 3,446.58 billion (US$ 79 billion) at March 31, 2007 and profit after tax of Rs. 31.10 billion for fiscal 2007. ICICI Bank is the most valuable bank in India in terms of market capitalization and is ranked third amongst all the companies listed on the Indian stock exchanges in terms of free float market capitalisation*. The Bank has a network of about 950 branches and 3,300 ATMs in India and presence in 17 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in Singapore, Bahrain, Hong Kong, Sri Lanka and Dubai International Finance Centre and representative offices in the United States, United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established a branch in Belgium.
ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).