1991 lapse ratios on ordinary business

Article Abstract:

The lapse ratio for life insurance companies reached 10.4% in 1991. From a high of 15% in 1983, the lapse ratio has been edging down ever since. Lapse ratios are the insurance industry's calculations of policy renewal. The improved ratios are most significantly due to insurance policy-holders remaining with their present insurance companies. Another factor is that not many interest-sensitive products were substituted for guaranteed-cost products.

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Special revenue bonds fuel 13.2% increase

Article Abstract:

Life and health insurance companies have had bondholdings increase in the double digits since 1989 which may result in holdings worth $1 trillion in 1994. The rates increased 13.2% in 1993 to reach $976.5 billion in 1993. Special revenue bondholdings of insurance companies tripled from 1989 to 1993. Insurance company asset growth increased at this time due to more demand for separate account products coupled with increasing bond values.

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The top 500

Article Abstract:

A list of the top 500 life and health insurance companies in 1991, ranked by net premiums written, is presented. The top writer was Prudential Insurance Company of America, with nearly $24.9 billion in premiums written. Overall, the average premium growth rate for the top 500 was only 3.4%, down seven points from 1990 levels.

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