Weiss Ratings: Profits Drop 84% at Largest Life and Annuity Insurers
June 1, 2012 by Maria Wood
By Maria Wood
May 25, 2012 •
Weiss Ratings, a Jupiter, Fla.-based independent rating agency of U.S. insurance companies and financial institutions, found that profits at the 20 largest life and annuity insurers in the U.S. decreased by 84% in 2011, going from $14.8 billion to $2.4 billion.
Those 20 companies account for 54% of the industry’s assets, but generated only 12.8% of its net income in 2011. Overall the industry earned $18.6 billion last year, down 38.2% from $30.1 billion in 2010, reports Weiss Ratings. Click here to read more…
Originally Posted at LifeHealthPro on May 25, 2012 by Maria Wood.
Categories: Industry Articles