OLDWICK, N.J.–(BUSINESS WIRE)–The U.S. life/annuity (L/A) trade doubled its internet revenue within the first 9 months of 2021 to $26.1 billion, in contrast with the identical prior-year interval, in accordance with a brand new AM Greatest report.
This monetary assessment is detailed in a brand new Greatest’s Particular Report, “First Look: 9-Month 2021 Life/Annuity Monetary Outcomes,” and the information is derived from corporations’ nine-month 2021 interim statutory statements that had been obtained as of Dec. 1, representing an estimated 97% of complete U.S. L/A trade premiums and annuity concerns.
In line with the report, the U.S. L/A trade complete revenue rose 6.6% from the prior-year interval, pushed by a 62% enhance in different revenue, a 4.9% enhance in internet funding revenue and a 4.5% enhance in premiums and annuity concerns.
The pretax internet working acquire was $42.5 billion, up 153.3%. A $5.Three billion enhance in tax obligations and a further $7.Three billion of internet realized capital losses contributed to the trade’s internet revenue, up from $13.1 billion from the primary 9 months of 2020.
Capital and surplus rose by 6.7% from the top of 2020 to $468.zero billion, as $64.2 billion of internet revenue, contributed capital, adjustments in unrealized features and different adjustments in surplus had been decreased by a $14.1 billion change in asset valuation reserve and $20.7 billion of stockholder dividends.
To entry the complete copy of this particular report, please go to http://www3.ambest.com/bestweek/purchase.asp?record_code=315401.
AM Greatest is a worldwide credit standing company, information writer and information analytics supplier specializing within the insurance coverage trade. Headquartered in the US, the corporate does enterprise in over 100 international locations with regional places of work in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico Metropolis. For extra data, go to www.ambest.com.
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