Corporate changes 1991

Article Abstract:

Ninety-two life/health insurance companies retired in 1991 due to insolvency, voluntary dissolution, merger or re-domestication, and 32 companies entered the field. Failure to retain a distinct marketplace niche or competitive advantage caused 37 companies to withdraw or voluntarily dissolve. In addition, many companies merged with parents or unaffiliated firms, and re-domestications increased from 13 in 1990 to 16 in 1991. Ten of the 32 start-ups were domiciled in Arizona due to low initial capital requirements and a lenient tax structure.

Statistics

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Review of Best's 1992 L/H rating assignments

Article Abstract:

Life/health insurers in 1991 concentrated on improving their financial health and asset quality in response to the recession. This new management focus and a bull market in common stocks and in the junk bond market has financially strengthened many insurers. Insurers took advantage of the securities market to dump weak investments and buy higher quality assets. The industry made $3.9 billion on its bond sales. The industry as a whole is still weakened by its exposure to the poor real estate and mortgage markets.

Life insurance, Economic aspects

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