by John Darer
The companies that issue structured settlement annuities are among the biggest financial institutions in the United States, if not the world. Not only are they the biggest but the majority of companies are also growing, according to an A.M.Best survey of the top 100 US Life/Health Writers in terms of 9-month 2010 admitted assets* that was published in the March 2011 Best's Review. The industry average growth rate was 4.4% while the average for the top 25 was 4.8%**
1. $472.84B Metropolitan Life & Affilated Companies +8.4%
2. $391.07B Prudential of America Group +6.5%
3. $231.25B Manulife Financial (includes John Hancock Life (USA) and its NY subsidiary) +1.7%
5. $226.33B Hartford Life Group +2.7%
7. $211.53B New York Life Group +4.8%
9. $179.91B AEGON USA Group (Transamerica Life, Peoples Security, Monumental among others) 0.0%
13.$138.99B Mass Mutual Financial Group +4.8%
15.$100.83B Pacific Life Group +3.0%
21.$ 69.71B Allstate Financial -5.9%
23.$ 63.39B Genworth Insurance Group +0.4%
27.$ 46.22B Aviva USA Group +6.6%
39.$ 22.92B Symetra Life Group +7.7%
43. $ 18.97B Mutual of Omaha Group +3.9%***
48. $ 16.93B USAA Life Group +11.6%
57. $ 13.98B Liberty Life Assurance of Boston +7.6%
86. $ 3.64B Presidential Life Insurance Company +0.7%
91. $ 3.29B Continental Assurance Company
* as of January 7, 2011
Companies listed in bold are current structured annuity issuers.
Note that while American General and United States Life Insurance Company in the City of New York were not listed in the Best's Review survey this author believes their assets would put them in the Top 100 and has requested numbers from the companies.
** by comparison 2003 industry average growth was 12.7%
*** purported to be re-entering the structured settlement market in Q2 2011
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