Abstracts » Insurance

Average policy size

Article Abstract:

The average amount of a new life insurance policy grew very little in 1991. New policies in 1991 averaged $69,927, only $25 more than the average for a new 1990 policy. Recession and low interest rates suppressed the industry and may have caused new business to look into interest-related products rather than life insurance. Hardest hit by the loss of business and low policy rates were mutual insurance companies. Stock insurance companies, which have been on a downward trend since 1987, fell but did not have the same large drop in policy size as mutuals.

Prices and rates

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1991 sales results of the top insurers

Article Abstract:

Sales for companies marketing ordinary, group and industrial life insurance increased only 1% in 1991, compared to 5% in 1990. Group life sales increased 18.6% in 1991, but this gain was partially cancelled by ordinary sales, which were off by over 7%. Sales of industrial life insurance decreased 36%. Sales for all three types of insurance totaled $1.7 trillion. Sales statistics for the largest 135 insurers are presented. The company with the highest ranking in 1991 was Prudential Insurance Company of America.

Statistics

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