Life & Annuity Insurance Industry 2022

Insurers must prepare for the future, but uncertainties make it difficult to predict. These scenarios explore how the life insurance and annuities (L&A) industry landscape may develop over the next one to three years and helps leaders explore some of the potential medium-term implications of COVID-19.

Life & Annuity Insurance202020212022
Life insurance premiums$143.1$159.5$177.8
Annuity premiums and deposits294.6285.8277.5
Accident and health premiums184.7189.2193.7
Total premiums, consideration and deposits$625.7$637.8$650.8
Net investment income186.0200.8216.7
Total revenue$881.2$945.7$921.9
Increase in reserves109.889.872.2
General and administrative expenses67.069.471.8
Total expenses$825.2$873.9$842.8
Policyholder dividends18.04479044729
Net income before capital gains$32.9$45.7$63.6
Net income$22.1$37.4$63.7
Capital and surplus, end of year440.5475.9514.7

Source: NAIC data, sourced from S&P Global, Insurance Information Institute