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Exclusive Corporate feature. Corporate Account. Statista Accounts: Access All Statistics. Basic Account. The ideal entry-level account for individual users. Corporate solution including all features. Statistics on " Life insurance worldwide " The most important statistics. The most important statistics. Further related statistics. Life insurance companies on the life insurance market in Italy Largest European life insurance companies ranked by number of employees in Insurance sector investment portfolio on domestic market in Italy by segment Profit of insurance companies , by segment Italy: return on investment ROI of insurance sector Expense ratio of life insurance sector in Italy Return on equity ROE of insurance companies in Italy Irish life insurance market: companies ranked by total assets as of Net inflows of the life insurance sector in Italy Largest U.
Further Content: You might find this interesting as well. Statistics Life insurance companies on the life insurance market in Italy Largest European life insurance companies ranked by number of employees in Insurance sector investment portfolio on domestic market in Italy by segment Profit of insurance companies , by segment Italy: return on investment ROI of insurance sector Expense ratio of life insurance sector in Italy Return on equity ROE of insurance companies in Italy Irish life insurance market: companies ranked by total assets as of Net inflows of the life insurance sector in Italy Largest U.
The number of life insurance companies in the U. In the U. Also, premiums are normally not deductible for federal and state income tax purposes.
Advances in computer technology have brought about changes in how consumers purchase life insurance. Using the internet to research and purchase life insurance is unsurprisingly more prevalent among younger generations than among their older counterparts. However, independent agents are still the most dominant distribution channels. Around four out of every ten people in the U. In , California had the highest number of life insurance purchases while Wyoming was the state with the least.
Approximately 28 million life insurance policies were purchased across U. This text provides general information. Statista assumes no liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date data than referenced in the text. Largest life insurance company globally by market capitalization. Number of life insurance companies in the U. Now, life insurance is also sold directly to the public by mail, telephone and through the Internet. In addition, in the s insurers began to market annuities and term life insurance through banks and financial advisors, professional groups and the workplace.
A large portion of variable annuities, and a small portion of fixed annuities, are sold by stockbrokers. The direct response channel grew over the same ten years, from 4 percent to 7 percent. Affiliated agents have lost some ground, falling from 40 percent to 38 percent, as shown in the chart below. Excludes direct marketing efforts involving agents. Includes internet sales where consumers submit online applications. Source: U. The Insurance Barometer Study found that in , 51 percent of respondents to the poll preferred in-person sales.
By that proportion fell to 41 percent. Most of the 10 percent decline was attributed to the increase in the number of life insurance customers who preferred to purchase the insurance online. That number grew from 21 percent in to 29 percent in The study was conducted in January , among 1, online respondents. Of note the Insurance Barometer did not address purchasing preferences.
MassMutual's market share is 4. State Farm is primarily known for its home and auto insurance products, but it is the seventh-largest life insurer in the U. State Farm offers term, whole, and universal life insurance. The company has 2. State Farm's joint universal life policies can pay two individuals, such as spouses.
The company's whole life insurance has limited payment options, which allow the customer to adjust how and when the payments are made for the coverage. Transamerica is the eighth largest life insurer in the United States and holds 2. Transamerica offers five types of life insurance: term, index universal, whole, final expense, and life insurance for foreign nationals. In the annual report, Aegon reported a decrease in net income, earning 55 million Euros compared to 's 1.
The drop in net income was partly attributed to the effects of COVID on the Americas such as the high mortality rate and lower interest rates. Despite the disappointing earnings, Transamerica's parent company gained over 4.
National Association of Insurance Commissioners. Accessed Aug. New York Life. Northwestern Mutual. Announces Results. Lincoln Financial Group. Mass Mutual. State Farm. Life Insurance. Long-Term Care Insurance. Corporate Insurance. Your Privacy Rights. To change or withdraw your consent choices for Investopedia.
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