US-based Highline Data, a provider of insurance industry market data, has revealed in its updated 2007 annual data that the life and health insurance segment continued to grow steadily in 2007.
With 857 individual life companies reporting, total admitted assets increased by 5.8%, from $4.7 trillion to nearly $5 trillion, compared to 8% growth in 2006. Of the top 100 filing companies ranked by 2007 total admitted assets, 23 companies experienced a decrease in their total admitted assets.
Surplus, a financial measure similar to retained earnings, grew by 6.9% from $302 million to $323 million, compared to 5.8% growth in 2006. Unconsolidated net gain from operations decreased 9.7%, from $41 billion to $37 billion.
The risk based capital (RBC) ratio for the 857 life company composite decreased from 816% in 2006 to 805% in 2007. Eight companies reported an RBC ratio below 200%.
According to the analysis, direct premium growth was strong, showing a 10% increase, from $597 million in 2006 to $657 million in 2007.
Reilly Cobb, vice president and managing director of Highline Data, said: Most of the 2007 life, accident and health filings are now available from Highline Data. They reveal that life insurers managed to sidestep the sub-prime credit debacle and come through 2007 in good shape.