The United States Insurance Industry Report provides insightful analysis,
market overview, industry structure and outlook of life and non-life/ property
& casualty insurance industries in the country. Richly laden with quantitative
analysis, the report also provides the reader with an exhaustive statistical
preface to the industry. A synopsized discussion offers preludes to
reinsurance and other insurance markets within the non-life/ property &
casualty insurance sector, such as automobile, homeowners, fire & allied,
catastrophe, workers' compensation, medical malpractice, liability, aviation,
travel, and marine insurance. In addition, also get a sneak peek at flood,
mortgage, title, municipal bond, venture capital, environmental, credit,
political risk, and pet insurance among others. Get to know about various
types of life insurance products in the US market, backed by statistical
inference of key players in these markets. The closely summarized US market
report is designed to offer a broad, macro level picture of the trends,
challenges, market structure/basics, recent mergers & acquisitions, and
strategic corporate developments witnessed by the industry. The discussion
summarizes, in addition to other market variables, the distribution systems,
bancassurance, marketing & distribution, and regulatory overview in the
region. The report offers a recapitulation of recent launches of insurance
products by major industry players in the country. Also provided is a
compilation of recent past/ historical perspective of the country' s insurance
market and corporate developments within the industry. The report examines the
leading companies' footing in insurance markets at regional level, along with
their annual written premiums and/ or market shares. Regional key and niche
players briefly discussed and abstracted in the report include Aetna Inc.,
AFLAC, Allstate Financial Group, American International Group, Inc., AXA
Equitable, Berkshire Hathaway, Chubb Corp., Cigna Corp., Crawford & Co.,
Fidelity National Financial, Liberty Mutual Group, Lincoln National Corp.,
MassMutual Financial Group, Metropolitan Life Insurance Co., Mortgage Guaranty
Insurance Corp., New York Life Insurance Co., Pacific Life Insurance Co.,
Partner Reinsurance Company Ltd, Pets Best, Prudential Financial, State Farm
Group, The PMI Group, Inc., United Guaranty, UnitedHealth Group Inc., Unum
Group, and WellPoint Inc. among several others. In addition, leading insurance
brokers like Aon Corp., Arthur J. Gallagher & Co., Brown & Brown Inc., Marsh &
McLennan Cos. Inc., and Wells Fargo & Co. have also been discussed and
summarized in the report.
Table of Contents
Table of Contents
1. Industry Overview
Current & Future Analysis
Table 1: US Recent Past, Current & Future Analysis for Insurance
Industry by Segment - Life and Non-Life Markets Independently Analyzed with
Direct Premiums Written in US$ Billion for the Years 2006 through 2010
(includes corresponding Graph/Chart)
Table 2: US 5-Year Perspective for Insurance Industry by Segment -
Percentage Breakdown of Direct Premiums Written for Life and Non-Life Markets
for 2006, 2008, and 2010 (includes corresponding Graph/Chart)
Marine Insurance - Buoyed by Growing International Trade
Construction Insurance - Shrinking Coverage
2007: Overview
Table 3: US Property & Casualty Insurance Market (2006 & 2007):
Percentage Breakdown of Direct Premiums Written by Category for Private
Passenger Auto, Homeowners Multiple Peril, Workers Compensation, Commercial
Multiple Peril, Commercial Auto, Inland Marine, Medical Malpractice, Fire,
Accident & Health, Mortgage Guaranty, and Other Insurance (includes
corresponding Graph/Chart)
Table 4: Leading Players in the US Property/Casualty Insurance Market
(2006): Revenues in US$ Billion by Company - American International Group,
Berkshire Hathaway, State Farm Insurance Cos., Allstate and Hartford Financial
Services (includes corresponding Graph/Chart)
Reforms on the Cards
Prices to Stabilize in Near Future
Fundamental Risks Loom Large
Homeowners and Auto Insurance Markets to Quiver
Buoyant Growth Foreseen in Pet Insurance Market
2005: Going Gets Tough...
Property Insurance - Stunned by Storms
Casualty Insurance - Renewals Slump
Onshore Property Insurance Markets - The Worst Affected
2004: A Review...
Table 5: US Property & Casualty Insurance Market (2004): Percentage
Breakdown of Net Premiums Written by Line - Accident & Health, Commercial
Lines, and Personal Lines (includes corresponding Graph/Chart)
Table 6: US Personal Lines Insurance Market (2004): Percentage Breakdown
of Net Premiums Written by Segment - Private Passenger Auto Liability,
Homeowners Multi Peril, and Private Passenger Auto Physical Damage (includes
corresponding Graph/Chart)
Growth Slows in the US
Underwriting Performance
Premiums and Pricing
Investment Performance
Combined Ratio and Source of Income
Table 7: US Insurance Industry (2002-2004): Percentage of Investments by
Property/Casualty Insurers in Bonds, Stocks (Preferred & Common), Mortgage
Loans on Real Estate and Others (includes corresponding Graph/Chart)
Policyholder Surplus
Expense Ratio
Issue on Tort Costs
Surging Losses from Asbestos and Environmental (A&E) Claims
Liability Insurance - A Major Concern
2. Market Review
Table 8: The US Insurance Industry (2006): Per Capita Premium in US$, and
Penetration of Insurance by Category - Life and Non-Life
Key Trends and Issues
Regional Insurers Gain Ground
' Risk' is the Bait for Business
Small Insurers Keep Afloat
Wave of Demutualization Activity Marks US Insurance Industry
US Government Opposes Terrorism Insurance
Amendment to Terrorism Risk Insurance Act
Insurance Frauds - A Major Challenge to Industry
Table 9: US' Insurance Fraud Costs (In US$ Billion) by Sector (2000)
(includes corresponding Graph/Chart)
Regulatory Setup to Handle Insurance Frauds
Insolvencies
Managing Solvencies/Insolvencies
Guaranty Funds
Mails Play a Vital Role in the US Insurance Industry
Trends Prevailing in the Industry
Electronic Invasion
Factors Driving the Industry
3. September 11: The Aftershocks
9/11 - The Costliest Insured Disaster
Estimated Insurance Payments Related to Sept. 11 2001, by Sector (In US$)
Table 10: September 11: Estimates of Losses for US Insurance Industry (In
US$ Billion) (includes corresponding Graph/Chart)
The Ripples from WTC Disaster
Skyrocketing Insurance Rates...
The Other Cause...
Corporate America Shuns Traditional Insurance...
All Eyes Turn Towards Catastrophe Modeling
The Recessionary Climate
Sustained Underpricing
Medical Inflation
Corporate Failures
Abuse of the Legal System
4. Competitive Landscape
Functioning of Insurance Companies
Comparative Study of the US vis-a-vis Europe
Table 11: Leading Insurance Groups in the US (2005): Net Written Premiums
in US$ Billion for Allstate, American International Group, Berkshire-Hathaway,
Hartford, Liberty Mutual, Nationwide, Progressive, St. Paul Travelers, State
Farm, and Zurich (includes corresponding Graph/Chart)
Table 12: Leading Commercial Insurance Groups in the US (2005): Percentage
Breakdown of Net Written Premiums for American International Group, Ace Ltd,
Chubb & Son Inc, CNA Insurance Group, St Paul Travelers Group, Hartford
Fire & Casualty, Liberty Mutual Insurance Group, Nationwide Corp, State
Farm Group, Zurich, and Others (includes corresponding Graph/Chart)
Table 13: Leading Personal Insurance Groups in the US (2005): Percentage
Breakdown of Net Written Premiums for American International Group, Allstate
Insurance Group, Berkshire Hathaway, Liberty Mutual, Nationwide Corp,
Progressive Group, State FarmGroup, St Paul Travelers Group, United Services
Automobile Asn Group, Zurich, and Others (includes corresponding Graph/Chart)
Table 14: No. of Insurance Companies in the US by State and Category:
2002-2003
Need to Overcome the Hurdles ...
Life Insurance
Table 15: US Life Insurance Industry (2003): Gross Written Premium in US$
Billion by Leading Companies for Metropolitan Life & Affiliated, AIG,
Hartford Life, ING, Prudential of America, AEGON, Equitable, New York Life,
MassMutual Financial, and Manulife Financial (includes corresponding
Graph/Chart)
Non-Life Insurance
Table 16: US Non-life Insurance Industry (2003): Gross Written Premium in
US$ Billion by Leading Companies for State Farm Mutual Group, American
International Group, Allstate Insurance Co. Group, Liberty Mutual Group,
Travelers Property Casualty Corp. & Affiliates, Farmers Insurance Group,
Nationwide Group, Zurich Insurance Co. Group, Progressive Casualty Group, and
Continental Casualty Group (CNA) (includes corresponding Graph/Chart)
5. Review of Major Non-Life Insurance Segments
5a. Property/Casualty Insurance
Outlook for Property/Casualty Insurance Industry
Katrina Spells Doom for the Sector
Table 17: US Property & Casualty Insurance Industry (2005): Percentage
Breakdown of Direct Premiums Written by Category -Commercial Auto Liability,
Commercial Auto Physical Damage, Commercial Multiple Peril, Homeowners
Multiple Peril, Private Passenger Auto Liability, Private Passenger Auto
Physical Damage, Fire, Inland Marine, Workers' Compensation, Medical
Malpractice, and Others (includes corresponding Graph/Chart)
Table 18: Leading Players in US Property & Casualty Insurance Industry
(2005): Net Written Premiums in US$ Million for Amer Intl Group, Allstate Ins
Group, Berkshire Hathaway, Farmers Ins Group, Hartford Ins Group, Liberty
Mutual, Nationwide Group, Progressive Ins Group, State Farm Group, and St.
Paul Travelers Group (includes corresponding Graph/Chart)
P&C Industry Posts Profits - A Year 2005 Perspective
P&C Sector Concentrates on Diversified Sales channels
Property and Casualty Premium Rates at Crossroads
Table 19: US Property Insurance Market: Leading Disasters By Industry
Losses in US$ Billion (includes corresponding Graph/Chart)
Market Heads Towards Recovery
Pricing
Deductibles
Terrorism
Insurers Increasingly Rely on Segmentation to Cut Pricing Risks...
Industry Hit Hard by Global Climatic Changes...
Table 20: Natural Catastrophes in the US (2005): Actual Loss in US$
Billion for Hurricane Dennis, Hurricane Rita, Hurricane Wilma, and Hurricane
Katrina
Table 21: Top Natural Catastrophes in the US - 2003 & 2004
A Perspective of P&C Losses
Table 22: US Property-Casualty Insurance Losses from Catastrophic Events
for 1991 to 2004 (Losses in US$ billion) (includes corresponding Graph/Chart)
Casualty Insurance
Table 23: Leading Players in the US Group Casualty Market: 2003(includes
corresponding Graph/Chart)
Table 24: US Other Accident & Health Casualty Insurance Market (2003):
Percentage Market Share of Leading Companies (includes corresponding
Graph/Chart)
Table 25: US Private Passenger Casualty Insurance Market (2003):
Percentage Market Share of Leading Companies (includes corresponding
Graph/Chart)
Table 26: US Commercial Casualty Insurance Market (2003): Percentage
Market Share of Leading Companies (includes corresponding Graph/Chart)
Table 27: US Other Liability/Casualty Insurance Market (2003): Percentage
Market Share of Leading Companies (includes corresponding Graph/Chart)
General Liability Cover - A Must Have for Businesses
Workers' Compensation
Umbrella and Excess Liability
Coverage and Restrictions
Casualty Alternative Risk Transfer & Integrated Risk
Blended and Finite Risk
Swing Plans & Captives
Key Statistics
Table 28: US Property/Casualty Insurance Market: Percentage Share
Breakdown by Dollars of Direct Premiums Written by Segment for 2003 (includes
corresponding Graph/Chart)
Table 29: US Inland Casualty Insurance Market (2004 & 2005):
Percentage Market Share of Leading Companies (includes corresponding
Graph/Chart)
Table 30: Leading Players in the US Inland Casualty Market: 2003 (includes
corresponding Graph/Chart)
Insolvency Rates of US P/C Companies On Rise...
Table 31: Principal Factors Causing Insolvency in the US Property/Casualty
Insurance Market (2002) (includes corresponding Graph/Chart)
Table 32: Insolvency Rates for US P/C Companies by Year (1993-2002)
(includes corresponding Graph/Chart)
Competitive Landscape
A Fragmented Industry...
Table 33: Leading Players in US Property & Casualty Market (2003):
Percentage Share Breakdown by Net Written Premium for State Farm Group,
American International Group I, Allstate Insurance Group, Zurich/Farmers
Group, Berkshire Hathaway Ins. Group, Nationwide Group, St. Paul Travelers
Cos, Liberty Mutual Insurance Cos, Progressive Insurance Group, Chubb Group of
Insurance Cos. and Other (includes corresponding Graph/Chart)
Table 34: Leading Property/casualty (P/C) insurance Players By Revenues:
2003 (includes corresponding Graph/Chart)
Table 35: Leading Property/Casualty Reinsurers by Net Premiums Written in
the US: 2003 (In US$ billion) (includes corresponding Graph/Chart)
P/C - Before and After 9/11
P/C Before 9/11
Property/Casualty Industry - After September 11
Toughening Trends...
Bleak Picture - Better Prospects...
Recovery Springs from Within...
Effective Capital Deployment and Customer Confidence - Key to Recovery...
5b. Automobile Insurance
Market Overview
Auto Insurance Premium Slated to Decline
Table 36: US Auto Insurance Average Expenditure (2000-2004) (In US$
million) (includes corresponding Graph/Chart)
Table 37: US Insurance Industry (2000-2004): Consumer Price Index for Auto
Insurance (includes corresponding Graph/Chart)
Table 38: Passenger Vehicle Accident Insurance Claims Paid in 2004
Auto Insurance Prices in Reverse Gear...
Factors Affecting Rates of Auto Insurance
Table 39: US Insurance Industry (2005): Average Spending on Auto Insurance
(2001-2005) (In US $) (includes corresponding Graph/Chart)
Table 40: Average Spending on Auto Insurance (1996-2000) (includes
corresponding Graph/Chart)
Liability Insurance Leads to Rise in Motor Insurance Premiums in
Mississippi
Factors Affecting Insurance Premium
Compulsory Auto Insurance
No-Fault Auto Insurance
Developments
No-Fault Auto Insurance Proven Ineffective
New York' s No-Fault Auto Insurance Fraud Increasing Considerably
Low Priced Premiums Introduced
New York Passes New Law to Reduce Fraud
New Bill Introduced by the US Government
Governments Restrict Claims for Uninsured Drivers
Key Trends and Issues
US Auto Insurers Gear Up to Tap Generation Y Market
Competition Heats Up in US Private-Passenger Auto Market...
US Insurance Industry Announces Top 10 Safe Passenger Cars
Older Drivers More Prone to Accidents
Medicines Cause for Risk
Steps Taken for Reducing Fatal Accidents
Licensing Standards for the Old
Tire Insurance Market on the Surge
Auto Crash - A Growing Concern
Table 41: US Insurance Industry: Traffic Fatalities (2000-2003) (In ' 000)
(includes corresponding Graph/Chart)
Table 42: US Insurance Industry (2003): Percentage Breakdown of Motor
Vehicle Deaths by Activity of Drivers, Passengers, Pedestrians, Motorcycle
Riders, Pedal Cyclists and Others (includes corresponding Graph/Chart)
Table 43: US Insurance Industry (2000-2003): Percentage Share of Alcohol
Related Deaths in the US (includes corresponding Graph/Chart)
Insurance Companies Encourage Safe Driving to Customers
Table 44: US Insurance Industry (2004): Seat Belt Laws for Top Twenty
States
Table 45: US Insurance Industry (2000-2004): Traffic Deaths (includes
corresponding Graph/Chart)
Table 46: US Insurance Industry: Accidents by Drivers' Age (2003)
(includes corresponding Graph/Chart)
Measures Taken to Reduce Drunk Driving
Laws for Repeat Offenders
Laws on Liability Issues
New Regulations
Generic Auto Crash Parts
Background
Key Players
Table 47: Leading Players in the US Private Passenger Auto Insurance
Market (2006): Direct Premiums Written in US$ Billion by Company -State Farm
Mutual Group, Allstate Insurance Co. Group, Progressive Casualty Group,
National Indemnity Co. Group (Berkshire Hathaway), Farmers Insurance Group,
Nationwide Group, United Services Automobile Association Group, American
International Group, Liberty Mutual Group and American Family Insurance Group
(includes corresponding Graph/Chart)
Table 48: US Passenger Auto Insurance Industry (2006): Percentage
Breakdown of Expenses and Claims in Relation to Premiums (includes
corresponding Graph/Chart)
Table 49: US Auto Insurance Market (2005 & 2006): Percentage Breakdown
of Losses by Category for Private Passenger Liability, Private Passenger
Physical Damage, Commercial Auto Liability, and Commercial Auto Physical
Damage (includes corresponding Graph/Chart)
Table 50: US Automobile Insurance Market (2005): Direct Premiums Written
in US$ Million for Allstate, Berkshire Hathaway, Nationwide, Progressive, and
State Farm (includes corresponding Graph/Chart)
Table 51: Leading Players in the US Personal Auto Insurance Market (2005):
Percentage Share of Net Written Premiums by Company - Allstate Insurance
Group, American Family Insurance, American International Group, Berkshire
Hathaway, Farmers Insurance Group, Liberty Mutual, Nationwide Group,
Progressive Insurance, State Farm Group, USAA Group, and Others (includes
corresponding Graph/Chart)
Table 52: Leading Players in the US All-Private Passenger Auto Insurance
Industry (2005): Percentage Market Share of Direct Written Premiums by Company
- Allstate Insurance Group, American Family Insurance, American Intl Group,
Berkshire Hathaway, Farmers Insurance Group, Liberty Mutual, Nationwide Group,
Progressive Insurance Group, USAA Group, and Others (includes corresponding
Graph/Chart)
Table 53: Leading Players in US Private Passenger Auto Insurance Industry
(2004): Percentage Market Share of Net Written Premiums by Company - Allstate
Insurance Group, American Family Insurance, Berkshire Hathaway, Farmers
Insurance Group, Liberty Mutual, Nationwide Group, Progressive Insurance
Group, State Farm Group, St. Paul Travelers, USAA Group, and Others (includes
corresponding Graph/Chart)
Table 54: US Auto Physical Damage Insurance Market (2005): Percentage
Breakdown of Direct Written Premiums by Province - California, Florida, Texas,
New York, Michigan, Pennsylvania, Illinois, Georgia, Ohio, New Jersey, and
Other States (includes corresponding Graph/Chart)
Table 55: Leading Players in US Auto Insurance Market (2003): Percentage
Share Breakdown by Net Written Premium for State Farm Group, Allstate
Insurance Group, Progressive Insurance Group, Zurich/Farmers Group, Berkshire
Hathaway Ins Group, Nationwide Group, Liberty Mutual Ins Cos, USAA Group,
American International Group, Travelers P&C Group and Other (includes
corresponding Graph/Chart)
Table 56: US Private Passenger Auto Insurance Industry for 2003: Leading
Players Ranked by Direct Premium Written (in US$ Billion) for State Farm
Mutual Group, Allstate Insurance Co. Group, Progressive Casualty Group,
Farmers Insurance Group, National Indemnity Co. Group Berkshire Hathaway),
Nationwide Group, United Services Automobile Association Group, Liberty Mutual
Group, American International Group, American Family Insurance Group, and
Others (includes corresponding Graph/Chart)
Nonstandard Automobile Market Recovers and Faces Stiff Competition
Rates on the Uptrend for Auto Insurance
Key Factors Driving Auto Premium Hikes...
Rising Auto Insurance Premiums in New York State...
Table 57: Leading States for US Auto Insurance: 2003 (In US$ billion)
(includes corresponding Graph/Chart)
South Carolina Ranks High in Number of Uninsured Drivers
Trucking Industry Doused Under High Premiums
Auto Insurance - Diminished Value Concept
Georgia Opens Pandora' s box...
A Solution in Sight...
Auto Theft
Motor Vehicle Theft Statistics
Table 58: Motor Vehicle Thefts in the US for 1991-2003 (In Millions)
(includes corresponding Graph/Chart)
Table 59: Motor Vehicle Theft in the US (2003): Leading Metropolitan Areas
by Stolen Vehicles (In ' 000) (includes corresponding Graph/Chart)
Components - Targeted for Theft Too...
Factors Contributing for Decline in Motor Vehicle Thefts...
Combating the Problem...
Providing Discounts...
Car Theft Regulations
Commercial Auto Insurance in the US: Key Statistics
Table 60: Leading Players in the US All-Commercial Auto Insurance Industry
(2005): Percentage Market Share of Direct Written Premiums by Company -
American Intl Group, CNA Ins Co, Hartford Ins Group, Liberty Mutual,
Nationwide Group, Old Republic Gen Group, Progressive Ins Group State Farm
Group, St. Paul Travelers Group, Zurich, and Others (includes corresponding
Graph/Chart)
Table 61: Leading Players in US Commercial Auto Insurance Market (2002):
Dollars of Direct Premiums Written for Zurich/Farmers Group, Travelers P C
Group, Progressive Group, St Paul Cos, CNA Ins Cos, Amer Intl Group Inc,
Liberty Mutual Ins Cos, State Farm Group, Nationwide Group, and Auto-Owners
Ins Group (includes corresponding Graph/Chart)
Auto Liability Insurance in the US - Key Statistics
Table 62: Leading Players in the US Auto Liability Insurance Market
(2005): Direct Written Premiums in US$ Billion for Allstate Ins Group, Amer
Intl Group, Berkshire Hathaway, Farmers Ins Group, Liberty Mutual, Nationwide
Group, Progressive, State Farm Group, St. Paul Travelers Group, and USAA Group
(includes corresponding Graph/Chart)
Table 63: US Auto Liability Insurance Market (2005): Percentage Breakdown
of Premiums by Province -California, Florida, New York, Texas, New Jersey,
Pennsylvania, Illinois, Michigan, Ohio, Massachusetts, Georgia, North
Carolina, Virginia, Maryland, Washington, and Other States (includes
corresponding Graph/Chart)
Table 64: Leading Players in US Auto Liability Insurance Market (2002):
Dollars of Direct Premiums Written for State Farm Group, Allstate Ins Group,
Progressive Group, Zurich/Farmers Group, Nationwide Group, Berkshire Hathaway,
Travelers P C Group, Amer Intl Group, USAA Group, and Liberty Mutual Ins Cos
(includes corresponding Graph/Chart)
Table 65: Leading Players in US Auto Liability Insurance Market
(2000-2002): Percentage Share Breakdown by Dollars of Direct Premiums Written
for State Farm Group, Allstate Ins Group, Progressive Group, Zurich/Farmers
Group, Nationwide Group, Berkshire Hathaway, Travelers P C Group, Amer Intl
Group, USAA Group, Liberty Mutual Ins Cos, and Others (includes corresponding
Graph/Chart)
Table 66: Leading Players in the US Private Passenger Casualty Market by
Net Premium Written: 2003 (includes corresponding Graph/Chart)
5c. Homeowners Insurance
Home Insurance Coverage
Seven Basic Kinds of Home Insurance Policies
Covered and Not Covered Events of Casualty/ Damage in Home Insurance
Disaster Prone Areas Face Lesser Insurance Coverage
Huge Losses Deter Insurers from Offering Rich Earthquake Policies...
Homeowner' s Earthquake Policies on Decline as Insurers Reduce Benefits...
Market Overview and Key Statistics
Table 67: Leading Players in the US Homeowners Insurance Market (2006):
Direct Premiums Written in US$ Billion by Company - State Farm Mutual Group,
Allstate Insurance Group, Zurich Insurance Group, Nationwide Group, Travelers
Group, USAA Group, Liberty Mutual Insurance Group, Chubb & Son Group,
American Family Insurance Group and Hartford Fire & Casualty Group
(includes corresponding Graph/Chart)
Table 68: US Homeowners Insurance Market (2005 & 2006): Percentage
Breakdown of Losses by Claim Category for Property Damage (Fire, Lightning and
Debris Removal, Wind and Hail, Water and Freezing, Theft, and Other Property
Damage) and Liability (includes corresponding Graph/Chart)
Table 69: US Homeowners Insurance Market (2006): Leading States in the US
by Direct Premiums in US$ Million (includes corresponding Graph/Chart)
Table 70: Leading Players in US Homeowners Insurance Industry (2005):
Percentage Breakdown of Direct Premiums Written by Company - Allstate
Indemnity, Allstate Insurance, American Family Mutual, Fire Insurance Exchange
Liberty Mutual, Nationwide Mutual, State Farm Fire & Casualty, State Farm
Lloyds, State Farm General Insurance, United Services, and Others (includes
corresponding Graph/Chart)
Table 71: Leading Players in US Homeowners Multiple Peril Insurance
Industry (2005): Percentage Breakdown of Direct Premiums Written by Company -
Allstate Insurance, Amer Family Insurance, Chubb Group, Farmers Ins. Group,
Hartford Insurance, Liberty Mutual, Nationwide Group, State Farm Group, St.
Paul Travelers Group, USAA Group, and Others (includes corresponding
Graph/Chart)
Table 72: US Expenditure on Homeowners' Insurance: 2000-2002 (In US$
Million) (includes corresponding Graph/Chart)
Table 73: US Homeowner/Renter Insurance Market (2000-2002): Average
Premiums Written (in US$) for Homeowners, and Renters (includes corresponding
Graph/Chart)
Table 74: Homeowners Losses 2000 through 2004 (includes corresponding
Graph/Chart)
Table 75: Leading Players in US Homeowners Insurance Market (2003):
Percentage Share Breakdown by Direct Premiums Written (In US$ Billion) for
State Farm Group, Allstate Ins Group, Zurich/Farmers Group, Nationwide Group,
USAA Group, Travelers P C Group, Liberty Mutual Ins Cos, G of Ins Cos, Amer
Family Ins Group Safeco Ins Cos and Others (includes corresponding Graph/Chart)
Table 76: Leading Players in the US Homeowners Multiple Peril Insurance
Market (2000-2002): Percentage Share Breakdown by Direct Premiums Written (In
US$ million) for State Farm Group, Allstate Ins Group, Zurich/Farmers Group,
Nationwide Group, USAA Group, Travelers P C Group, Chubb Group of Ins Cos,
Amer Family Ins Group, Liberty Mutual Ins Cos, Safeco Ins Cos and Others
(includes corresponding Graph/Chart)
Table 77: US Homeowners Multiple Peril Insurance Market: Number of
Companies Writing Policies by Each State; Direct Premiums Written in Dollars
by Each State; and Percentage Share of Each State in the Total Direct Premiums
Written for 2001 and 2002
Deductibles in Homeowners Insurance
Renters Insurance in Brief
Coverage Types...
Actual Cash Value
Replacement Cost
Liability Coverage
Additional Living Expenses
Costs...
Other Home Insurance Coverages
Guaranteed Replacement Cost Coverage...
Inflation Guard Endorsement...
Scheduled Personal Property Endorsement...
Increased Limits on Money and Securities...
Secondary Residence Premises Endorsement...
Watercraft Endorsement...
Theft Coverage Protection Endorsement...
Credit Card Forgery and Depositors Forgery Coverage Endorsement...
Earthquake Insurance...
California - The Most Active Seismic Zone
Table 78: Top Ten Earthquakes in the US: Ranked by Property Damage in US$
Million
Table 79: Market Shares of Leading Earthquake Writers in US for 2000 (In
%) (includes corresponding Graph/Chart)
Windstorm Coverage...
Homeowners Insurance Market in Hawaii
Table 80: Leading Players in Fire and Homeowners Multiple Peril Insurance
Market in Hawaii: 2000 (In US$ million) (includes corresponding Graph/Chart)
Key Trends and Issues in Homeowners' Insurance Sector
Underinsured Homeowners...
Marital Status - An Issue...
Challenges Facing Homeowners Insurers
Toxic Mold Damage Claims...
Law Practitioners Cash in on Mold Claims
Lapses Lead to Losses
Crisis Creates Claim-Premium Imbalance
Insurers Taking No Chances
Rates on the Uptrend for Homeowners Insurance
Factors Contributing to Increased Rates for Homeowners' Plans...
5d. Flood Insurance
Risks in Coastal Insurance Markets
Table 81: US Insurance Industry (2006 H1): Insured Coastal Property Values
in US$ Billion for Select States -Connecticut, Florida, Louisiana, Maine,
Massachusetts, New Jersey, New York, South Carolina, Virginia, and Texas
(includes corresponding Graph/Chart)
National Flood Insurance Program
NFIP in the Turmoil
Write-Your-Own Program
Allison Does the Turnaround
Reinsurers Bear the Brunt...
Increased Flood Threat Props Up Demand for Insurance
5e. Fire & Allied Insurance
Table 82: US Fire & Allied Insurance Market: Insured Losses due to
Catastrophic Wildland Fires, 1990-2003
Table 83: US Fire/Casualty Insurance Market (2004 & 2005): Percentage
Market Share of Leading Companies (includes corresponding Graph/Chart)
Table 84: Leading Players in the US Fire& Casualty Market by Net
Premiums Written: 2003 (includes corresponding Graph/Chart)
Table 85: US Fire & Allied Insurance Market: Total Number of Companies
Writing Policies by Each State, Total Direct Premiums in Dollars, and
Percentage Share of Each State in the Total Direct Premiums Written for 2001
and 2002
Table 86: Leading Players in US Fire and Allied Insurance Market (2002):
Direct Premiums Written in Dollars for Zurich/Farmers Group, FM Global Group,
Amer Intl Group, Allianz of America, Ace INA Group, Travelers PC Group, Royal
& SunAlliance, Acceptance Ins Cos, St Paul Cos, and Hartford Ins Group
(includes corresponding Graph/Chart)
Table 87: Leading Players in US Fire and Allied Insurance Market
(2000-2002): Percentage Share Breakdown by Value of Direct Premiums Written
for Zurich/Farmers Group, FM Global Group, Amer Intl Group, Allianz of
America, Ace INA Group, Travelers PC Group, Royal & SunAlliance,
Acceptance Ins Cos, St Paul Cos, Hartford Ins Group, and Others (includes
corresponding Graph/Chart)
An Overview of Arson
Major Causes for Arson
Table 88: Intentionally Set Fires (2000-2003): Number of Fires and
Property Loss (In $ million) for Structures and Vehicles
Insurance Industry Fights Fire with Fire
5f . Catastrophe Insurance
Hurricanes in 2007 to Influence Insurance Market in 2008
Table 89: US P&C Insurance Market (2005 & 2006): Insured
Catastrophe Losses in US$ Billion
The US Insurance Industry Achieves Best Underwriting Performance in 2006
Florida Reforms Hurricane Catastrophe Fund Norms
Hurricane Havoc
After the Storm ...
Hurricane Losses Expand Coverage for Homeowners Insurance
A ' Figurative' Note on Catastrophic Losses
Comparison of Hurricane Katrina & Hurricane Andrew
Catastrophe Reinsurance in 2004
Table 90: US Catastrophe Reinsurance Market (2004): Total Losses from
Hurricanes in US$ Million for Charley, Ivan, Frances, and Jeanne (includes
corresponding Graph/Chart)
Table 91: Catastrophes in the US (1995-2004): Number of Disasters, Claims
and Insured Loss
Table 92: U.S. Catastrophe Losses During 1985-2004: Breakdown for Causes
of Loss (includes corresponding Graph/Chart)
Table 93: Major Hurricanes in the US during 1989-2004
Table 94: US Hurricanes and Associated Deaths During 1989 - 2004
Earthquake Insurance
Flood Insurance
US Commercial Multi-Peril Insurance
Market Overview and Key Statistics
Market Scenario - Commercial Insurance
Table 95: US Commercial Lines Insurance Market (2006): Direct Premiums
Written by Leading Companies in US$ Billion (includes corresponding
Graph/Chart)
Table 96: Leading Players in the US Commercial Lines Insurance Brokerage
Market (2006): Brokerage Revenues by Company - Marsh & McLennan Cos. Inc.,
Aon Corp., Arthur J. Gallagher & Co., Willis Group Holdings Ltd., and
Wells Fargo Insurance Services Inc. in US$ Billion (includes corresponding
Graph/Chart)
Table 97: Leading Players in the US Commercial Multiple Peril Insurance
Industry (2004 & 2005): Percentage Market Share of Direct Premiums Written
for Allianz of America, Chubb Group, CNA Insurance, Farmers Insurance Group,
Liberty Mutual, Hartford Insurance, Nationwide Group, State Farm Group, St.
Paul Travelers Group, Zurich, and Others (includes corresponding Graph/Chart)
Table 98: Leading Commercial Multiple Peril Companies by Direct Premiums
Written: 2001 (In US$ Billion) (includes corresponding Graph/Chart)
Table 99: Leading Players in the US Commercial Multiperil Insurance Market
(In US$ Million): Ranked by Direct Premiums Written (includes corresponding
Graph/Chart)
5g. Workers' Compensation
Soaring Health Care Costs Prop Rate Changes in WC Insurance Levels
Market Overview and Key Statistics
Table 100: US Recent Past, Current & Future Analysis for Workers
Compensation Insurance Market with Premiums in US$ Billion for the Years 2006
through 2010 (includes corresponding Graph/Chart)
Table 101: Workers' Compensation Insurance Trends in the US: 1998-2003
(includes corresponding Graph/Chart)
Market Under Consolidation ...
Table 102: Leading Players in the US Workers' Compensation Market (2004
& 2005): Percentage Share of Direct Premiums Written for American Intl
Group, Ace INA Group, CNA Insurance, Hartford Insurance, Liberty Mutual, State
Comp Ins Fund, State Ins Fund of NY, St. Paul Travelers Group, Zenith Natl Ins
Group, Zurich, and Others (includes corresponding Graph/Chart)
Table 103: Leading Players in the US Workers' Compensation Casualty Market
by Net Premiums written: 2003 (includes corresponding Graph/Chart)
Table 104: Leading Workers' Compensation Players in the US by Direct
Premiums Written: 2001 (In US$ Billion) (includes corresponding Graph/Chart)
Voluntary Benefits Market...
The Social Contract Relates to Workers Compensation
Costs to Employers
Claim Costs
Reducing Costs
Residual Markets
Terrorism Coverage
Terrorism Insurance Market
Reforms
Characteristics of the US Workers' Compensation Market
Basic Facts about Workers' Compensation
Factors Determining Premium Growth in Workers' Compensation:
Pricing Mechanism Followed in Various States
SeaBright Insurance Holdings Joins NASDAQ' s Global Select Market
Workers Compensation Fraud
Californian Market for Workers' Compensation Insurance
A Problem-Ridden Market...
Local Companies Fare Poorly...
The Search is on for Solution...
A Year of Debacle
Decline in Workplace Deaths and Injuries
Table 105: Number and Causes for Workplace Casualties in the US: 2002
& 2003 (includes corresponding Graph/Chart)
Alternative Risk Markets in Workers' Compensation
Group Self-Insurance...
Individual Self-Insurance...
Large Deductible Programs...
Retrospectively Rated Policies...
24-Hour Coverage Under Workers' Compensation
Legal Barriers to 24-hour Coverage...
Institutional Barriers to 24-Hour Coverage...
Regulatory Barriers to 24-Hour Coverage...
Worker' s Compensation After September 11
Outlook
5h. Medical Malpractice
Market Overview and Key Statistics
MMI Premiums to Achieve Significant Growth
Cost of Claims on MMI to Increase
Emergence of Positive Insurers' Scenario
The Rise of Risk Retention Groups (RRGs)
Importance of Safest Hospital Alliance Initiative
Government Legislation
Table 106: US Medical Malpractice Insurance Market (2005): Percentage
Market Share of Direct Premiums Written for Leading Companies - American Intl
Group, Inc, Berkshire Hathaway, CNA Insurance Co, Doctors Co Ins Group, Health
Care Indemnity Inc, ISMIE Mutual, ProAssurance, Mag Mutual, ProMutual, MLMIC
Group and Others (includes corresponding Graph/Chart)
Table 107: US Medical Malpractice Insurance Market (2004): Percentage
Market Share of Leading Companies (includes corresponding Graph/Chart)
Table 108: Leading Players in the US Medical Malpractice Market by Net
written Premiums: 2003 (includes corresponding Graph/Chart)
Malpractice Claims Growing Considerably
Initiatives Taken by Medical Board for Reduction in Medical Malpractice
Situation
Tort Reforms
Healthcare Professional Liability Insurance
Challenges Faced
Increase in Malpractice Claims in the US - Historic Review
Turbulence Continues - Key Trends in the Sector
Changing Customer Markets Takes its Toll...
Shift to Managed Care System Compounds the Problem...
Impact of Increasing Claims by State
Some States Beat the Trend...
Developments in Key US States...
Medical Malpractice Reinsurance
Table 109: Leading Writers in US Medical Malpractice Reinsurance Market by
Reinsurance Assumed: 2001 (In US$ Million) (includes corresponding Graph/Chart)
Internet and its Impact
Outlook
Underwriting Discipline a Must...
Consolidation - A Good Solution...
Regulations Bring in Certainty...
Consumers - The Ultimate Losers...
5i. Title Insurance
The Basics
Market Overview
Table 110: US Recent Past, Current & Future Analysis for Title
Insurance Market: Premiums in US$ Billion for the Years 2006 through 2010
(includes corresponding Graph/Chart)
Key Trends
Statutory Reserves Adds to Uniqueness...
Consolidation Springs New Changes...
M&As in Title Insurance Shrinks Competition
Table 111: US Title Insurance Industry (2005): Percentage Share of
Premiums by Company - Fidelity National Financial, First American Title, Land
America, Old Republic, Stewart Title, and Others (includes corresponding
Graph/Chart)
Table 112: US Title Insurance Industry (2004): Percentage Share of Direct
Premiums Written by Company -Attorneys Title Inc., Fidelity National
Financial, First American Title, Land America, Old Republic, Stewart Title,
and Others (includes corresponding Graph/Chart)
5j. Specialty Liability
An Introduction
Table 113: Segments of Specialty Line Business (In %)in the US: 2000
(includes corresponding Graph/Chart)
Employment-Related Claims - Getting on the Nerves of Insurers
Continued Declines in Prices
Directors and Officers Liability
A Disciplined March
A Review of Recent Performances
Table 114: Market Shares of Leading D&O Insurers in the US: 2003
(includes corresponding Graph/Chart)
Table 115: US D&O Claims by Type of Claimant (In %) (includes
corresponding Graph/Chart)
Professional Liability and Errors & Omissions
Coverage Restrictions
Fidelity Insurance
Premiums
Market Trends
Table 116: Market Shares of Leading Fidelity Writers in the US (2004)
(includes corresponding Graph/Chart)
Underwriting Trends
Capacity
Fiduciary Liability
Gunmakers Liability
5k. Municipal Bond Insurance Market
Table 117: Municipal Bond Exposure in the US Industry (In US$ Billion)
Tax Exempt Debt Insurance Rides High
5l. Mortgage Insurance
Table 118: US Recent Past, Current & Future Analysis for Mortgage
Insurance Market with Net Premiums Written in US$ Million for the Years 2006
through 2010 (includes corresponding Graph/Chart)
Market Overview
The Basics
Payment Plans...
Policy Renewal/ Cancellation...
PMIs' Competition with Service
Elements of Underwriting Risk when Reviewing a Loan
The Rise of Mortgage Insurance
Factors Strengthening the PMI Business
Self-Insurers in the PMI Market
Long-Term Risks...
Factors Affecting Default Losses
5m. Venture Capital Insurance
Table 119: US Venture Capital Insurance Industry Performance Indicators:
2000 Vs 1999 (VC Raised in US$ Billion)
Growth of VC and VC-Insurance Go Hand in Hand
Risk Stands Redefined for Technology Ventures
VC Insurance Goes Global
5n. Travel Insurance
Travel Insurance Catches the Fancy of Americans
Table 120: US Recent Past, Current & Future Analysis for Travel
Insurance Market: Premiums in US$ Million for the Years 2006 through 2010
(includes corresponding Graph/Chart)
Types of Travel Insurance
International Health Insurance
Individual Health Insurance Plans Based in the US...
Trip Insurance/Short-term Travel Insurance...
Long-Term International Health Insurance (Only Overseas Coverage)...
Long-Term International Health Insurance (Includes Home Country
Coverage)...
5o. Insuring The Motion Picture Industry
Completion Bonding - Entrenched
5p. Environmental Insurance
Pricing & Capacity
Mold Coverage
Remediation Stop Loss Coverage
The "Polluter Pays" Principle
Asbestos Liabilities
Table 121: Asbestos Related Losses: 1992-2003 (In US$ Billion) (includes
corresponding Graph/Chart)
Effect of Escalating Asbestos Claims on the US Economy
Developments
Building on Brownfields
Pollution Legal Liability (PLL)
Colleges and Universities
Contractors Pollution Liability
Consultants Professional Liability
Combined Coverage
5q. Credit Insurance - Untapped Potential
Demand On Rise...
Surety Market
Table 122: Market Share of Leading Surety Underwriters in the US for 2003
(includes corresponding Graph/Chart)
Collateral and Surety Bonds
Risk Factors and Insurance Products
5r. Aviation Insurance
Challenging Times: The Tough Get Going...
Corporate Aviation- Soft Market
Impact of Hurricane Season
2004: Market Review
Market Scenario
Market Trends in 2004
Airbus A380 Aircraft Poses New Challenges
Table 123: Leading Players in the US Aircraft All Peril Insurance Market
(In US$ Million) (includes corresponding Graph/Chart)
5s. Marine Insurance
Protection & Indemnity (P&I)
Blue Water Hull
Brown Water Hull and P&I Market
Marine Liability & Vessel Pollution Liability
Cargo
Challenges Facing Marine Insurance
Inland Marine Insurance
Table 124: Leading Players in US Inland Marine Insurance Industry (2004
& 2005): Percentage Market Share by Company - American Home Assurance,
Continental Casualty, Assurance Company of America, Factory Mutual, Firemans
Fund Insurance, Hartford Fire Insurance, National Union Fire Insurance, State
Farm Fire and Casualty, Travelers Property Casualty, Voyager Property &
Casualty Insurance, and Others (includes corresponding Graph/Chart)
Table 125: Leading Players in US Inland Marine Insurance Market (2002):
Dollars of Direct Premiums Written for Amer Intl Group, Zurich/Farmers Group,
CNA Ins Cos, FM Global Group, State Farm Group, Hartford Ins Group, Allianz of
America, Assurant Group, Chubb Group of Ins Cos and Travelers PC Group
(includes corresponding Graph/Chart)
Table 126: Leading Players in US Inland Marine Insurance Market
(2000-2002): Percentage Share Breakdown by Value of Direct Premiums Written
for Amer Intl Group, Zurich/ Farmers Group, CNA Ins Cos, FM Global Group,
State Farm Group, Hartford Ins Group, Allianz of America., Assurant Group,
Chubb Group of Ins Cos, Travelers PC Group and others (includes corresponding
Graph/Chart)
Ocean Marine Insurance
Table 127: Leading Players in US Ocean Marine Insurance Market (2004 &
2005): Percentage Market Share by Company - American Home Assurance, American
Steamship Owners, Continental Insurance, Federal Insurance Co., Firemans Fund
Insurance, Indemnity Ins Co. of North America, Navigators Insurance Co.,
Northern Assurance Co. of America, St Paul Fire & Marine Insurance, XL
Specialty Ins Co., and Others (includes corresponding Graph/Chart)
Table 128: Leading Players in US Ocean Marine Insurance Market (2002):
Dollars of Direct Premiums Written for CNA Insurance Group, American
International Group, Ace INA Ltd, Allianz Insurance Group, White Mountains
Group, St Paul Groups, Zurich/Farmers Group, XL America Group, Chubb Group of
Ins Cos, and Royal & SunAlliance (includes chart/Chart)
Table 129: Leading Players in US Ocean Marine Insurance Market
(2000-2002): Percentage Share Breakdown by Value of Direct Premiums Written
for CNA Insurance Group, American International Group, Ace INA Ltd, Allianz
Insurance Group, White Mountains Group, St Paul Groups, Zurich/Farmers Group,
XL America Group, Chubb Group of Ins Cos, and Royal & SunAlliance
(includes corresponding Graph/Chart)
5t. Onshore Energy Property Insurance
Energy Industry & Casualty
5u. Political Risk Insurance
Pricing...
5v. E-Insurance
Table 130: US Market for Network Security Insurance: 1999-2002 (In US$
Million) (includes corresponding Graph/Chart)
Hacker Insurance...
Venture Capital Funds Raise US $1 Billion for E-Insurance...
5w. Commercial Small Business Insurance
A Stagnant Market with Vast Potential...
Rampant Underinsurance...
5x. Space Insurance
Trouble Brewing in the US Space Insurance Industry...
Table 132: US Recent Past, Current & Future Analysis for Pet Insurance
Market: Premiums in US$ Million for the Years 2006 through 2010 (includes
corresponding Graph/Chart)
Pet Insurance in the US - A Past Review
Petco....
Veterinary Pet Insurance
PetPartners
5aa. Kidnap/Ransom & Extortion (KRE) Insurance
6. Life Insurance
Market Overview
Industry to Keep Afloat
A Surging Life Insurance Market
Key Snapshots
Table 133: US Life/Health Insurance Market (2006 & 2007): Percentage
Breakdown of Direct Premiums by Category for Annuities, Life Insurance, and
Accident & Health Insurance (includes corresponding Graph/Chart)
Table 134: US Life/Health Insurance Market (2005 & 2006): Financial
Asset Distribution of Insurers in US$ Billion by Category - Credit Market
Instruments (Corporate and Foreign Bonds, U.S. Government Securities,
Mortgages and Other Instruments), Corporate Equities, Money Market Fund Shares
and Miscellaneous (includes corresponding Graph/Chart)
Table 135: US Life/Health Insurance Market (2005 & 2006): Percentage
Breakdown of Financial Asset Distribution of Insurers (includes corresponding
Graph/Chart)
Table 136: US Life/Health Insurance Industry (2006 & 2007): Percentage
Breakdown of Investments by Category - Bonds, Mortgage Loans on Real Estate,
Stocks, Contract Loans, Cash, Cash Equivalent and Short-Term Investments, Real
Estate and Other Investments (includes corresponding Graph/Chart)
Table 137: US Recent Past, Current & Future Analysis for Individual
Annuity Industry by Segment - Fixed and Variable Annuity Markets Independently
Analyzed with Premiums in US$ Billion for the Years 2006 through 2010
(includes corresponding Graph/Chart)
Life Insurance to Grow
Life Insurance Industry Set to Capture Retirement Business
Reinsurance: The ' Life' of ' Life' ...
Table 138: Leading Players in the US Life/Health Insurance Market (2006):
Market Revenues in US$ Billion by Company for MetLife, Prudential Financial,
New York Life Insurance, TIAA-CREF, Massachusetts Mutual Life Insurance,
Northwestern Mutual, AFLAC, Genworth Financial, Unum Group and Principal
Financial (includes corresponding Graph/Chart)
Table 139: US Individual Term Life Insurance Market (2006): Leading
Players by Number of Policies Issued (In Thousands) - State Farm, American
International, Citigroup, Direct General Group, Liberty National, Genworth
Financial Group, American Family Corp., Protective Life Insurance, Old Mutual,
and Northwestern Mutual (includes corresponding Graph/Chart)
Table 140: US Individual Whole Life And Endowment Insurance Market (2006):
Leading Players by Number of Policies Issued (In Thousands) - Liberty
National, Gerber Life Insurance Company, American International, State Farm,
UnumProvident Life, AEGON USA Incorporated, Mutual of Omaha, Metropolitan
Group, New York Life, Unitrin Group, American Family Corp., Northwestern
Mutual, Allstate Insurance, Conseco, and Zurich Insurance Group (includes
corresponding Graph/Chart)
Table 141: US Life Insurance Industry (2004): Gross Premium Written (GPW)
in US$ Billion by Leading Reinsurance Companies for General Re, Swiss Re USA,
XL Reinsurance America, American Re, Everest Reins. Company, Transatlantic Re,
Employers Re, Odyssey Re America, Berkley Insurance Co., Folksamerica and
Others (includes corresponding Graph/Chart)
Group Life Insurance Market: Gearing ' Up' Risk Profiles...
Table 142: US Group Life Insurance Industry (2005 & 2006): Premiums in
US$ Million for Select Companies - AIG, Hartford Life, Met Life, Prudential,
Sun Life Financial, and Unum Provident (includes corresponding Graph/Chart)
Table 143: US Group Life Insurance Industry (2005): In Force Premiums in
US$ Billion for Select Companies - Aetna Inc, AIG Life, Cigna, Hartford,
Health Care Service, ING USA, Jefferson-Pilot, Metropolitan Life &
Affiliated, NY Life, Prudential of America, Reliance Standard, Securian Finl
Group, Standard Ins, Sun Life, and UnumProvident (includes corresponding
Graph/Chart)
Table 144: US Individual Life Insurance Industry (2005 & 2006):
Premiums in US$ Million for Select Companies - AIG, Ameriprise Financial,
Genworth Financial, Hartford Life, Lincoln National, Met Life, Manulife,
Nationwide Financial, Prudential, and Sun Life (includes corresponding
Graph/Chart)
Table 145: Leading Players in US Individual Life Insurance Industry
(2006): Percentage Market Share by Company - AIG, Ameriprise Financial,
Genworth Financial, Hartford Life, Lincoln National, Manulife, Met Life,
Nationwide Financial, Principal Financial Group, Protective Life, Prudential,
Sun Life, and Others (includes corresponding Graph/Chart) US- 219 Table 146:
US Individual Life Insurance Industry (2006): Percentage Breakdown of Sales by
Distribution Channel - Stockbrokers and Financial Institutions,
Personal-Producing General Agents & Brokers, Direct Response, and
Affiliated (includes corresponding Graph/Chart)
Life/Health Insurance Companies in Transition Mode...
Retirement Market Opens New Opportunities
Tapping the Market with New Products
Whole Life Or Term? - The Question of Insuring Life
Table 147: US Life Insurance Industry (2003 & 2004): Percentage Value
Breakdown of Life Insurance Product Sales by Universal Life, Whole Life,
Variable Universal Life, Level Premium Term, Variable Life, Annual Renewable
Term and Other Term (includes corresponding Graph/Chart)
Table 148: US Life/Health Insurance Market by Type for 2003: Net premiums
Written (In US$ billion) for Life, Annuity, Accident & Health, Contract
Funds (Deposit- Type), and Others (includes corresponding Graph/Chart)
Table 149: Premiums for US Life/Health Insurance Market by Product Line
for 1998 and 2002 (in US$ Billion) (includes corresponding Graph/Chart) US-
223 Table 150: US Worksite Life Insurance Market in 2003 (*): Sales ($
Million) of Worksite Life Insurance for Life Disability, Accident, Critical
Illness, Dental, Long-term Care, Hospital Indemnity, and Others (includes
corresponding Graph/Chart)
Favorable Life Products in the US...
Life Cycle of Life Insurance Products
6a. Leading Players - Key Statistics
Life Insurance Market
Table 151: Leading Players in the US Term Life (In -Force) Market (2005):
Premium Value in US$ Billion for Aegon USA Inc, Lincoln Natl Corp, ING USA
Life Group, Metropolitan Life & Affiliated Cos, and Swiss Reins Group
(includes corresponding Graph/Chart)
Table 152: Leading Players in the US Term Life Market (2005): Value in US$
Billion by Term Life Issued by Company - AIG Life Group, Genworth Finl Group,
Northwestern Mutual Group, Primerica Group, and State Farm Life Group
(includes corresponding Graph/Chart)
Table 153: US Life Insurance Market (2005): Premium in US$ Billion for
American Life, AKA Equitable Life, Allianz Life, American Family Life, Lincoln
National Life, Massachusetts Mutual Life, Metropolitan Life, Northwestern
Mutual Life, Prudential Insurance Co, and United Healthcare Insurance
(includes corresponding Graph/Chart)
Table 154: US Life Insurance Industry (2003): Gross Written Premium in US$
Billion by Leading Companies for Metropolitan Life & Affiliated, AIG,
Hartford Life, ING, Prudential of America, AEGON, Equitable, New York Life,
MassMutual Financial, and Manulife Financial (includes corresponding
Graph/Chart)
Table 155: US Life Insurance Industry (2003 & 2004): Percentage Value
Breakdown of Retail Life Insurance Sales by Leading Companies for New York
Life, Northwestern Mutual, AIG-American General, John Hancock/ManuLife
Financial, ING Life Companies - U.S., Aegon USA, Pacific Life, MetLife
Companies, State Farm Life, AXA Financial/MONY and Others (includes
corresponding Graph/Chart)
Table 156: US Life/Health Insurance Industry (2004): Leading Companies by
Revenues in US$ Billion for MetLife, Prudential Financial, New York Life
Insurance, TIAA-CREF, Mass. Mutual Life Ins., Northwestern Mutual, AFLAC, Unum
Provident, Guardian Life of America, and Principal Financial (includes
corresponding Graph/Chart)
Table 157: US Life/Health Insurance Industry (2004): Leading Companies by
Assets in US$ Billion for Prudential Financial, MetLife, TIAA-CREF, New York
Life Insurance, Mass. Mutual Life Ins., Northwestern Mutual, Lincoln National,
Principal Financial, Pacific Life, and AFLAC (includes corresponding
Graph/Chart)
Table 158: Leading Players in US Life and Health Insurance Market (2002):
Premium Income (In US$ Billion) for Metropolitan Life Insurance Co., Equitable
Life Assur. Society of the US, Prudential Insurance Co. of America,
Massachusetts Mutual Life Insurance Co., Hartford Life & Annuity Insurance
Co., Nationwide Life Insurance Co., United Healthcare Insurance Co., American
Life Insurance Co., Northwestern Mutual Life Insurance Co., and American
Family Life Assur. Co. Columbus (includes corresponding Graph/Chart)
Table 159: Leading Players in US Life Insurance Market (2002 & 2003):
Individual Life Premiums (In $000) and % Change (YoY) for Northwestern Mutual
Life Insurance Co., American Life Insurance Co., Prudential Insurance Co. of
America, Metropolitan Life Insurance Co., New York Life Insurance Co.,
Massachusetts Mutual Life Insurance Co., State Farm Life Insurance Co.,
Equitable Life Assur. Society of the US, Guardian Life Insurance Co. of
America, and Swiss Re Life & Health America, Inc.(includes corresponding
Graph/Chart)
Table 160: Leading Players in US Life Insurance Market (2002 & 2003):
Group Life Premiums (In $000) and % Change (YoY) for Metropolitan Life
Insurance Co., Prudential Insurance Co. of America, Massachusetts Mutual Life
Insurance Co., Aetna Life Insurance Co., Connecticut General Life Insurance,
Minnesota Mutual Life Insurance Co., UNUM Life Insurance Co of America, New
York Life Insurance Co., Hartford Life & Accident Insurance, and Life
Insurance Co. of North America (includes corresponding Graph/Chart)
Table 161: Leading Players in the US Individual Term Life Insurance Market
by Percentage Market Share for 2003 (includes corresponding Graph/Chart)
Table 162: Leading Players in the US Credit Life Insurance Market (2005):
Premiums in US$ Billion for Aegon USA Inc, AIG Life Group, Amer Natl Group,
Assurant, Citi Assur Svcs Group, Cuna Mutual Group, HSBC Ins Group, Life of
the South Group, Protective Life Corp, and Securian Finl Group (includes
corresponding Graph/Chart)
Table 163: Leading Players in US Credit Life Insurance Market (2003):
Insurance in Force for Cuna Mutual Group, Assurant, AIG Life Group, Household
Ins Group, Citigroup, Protective Life Corp, Metropolitan Life &
Affiliated, Combined A&H Group, Aegon USA Inc, and MN Mutual Groups
(includes corresponding Graph/Chart)
Table 164: Leading Players in US Insurance Market (2002 & 2003):
Individual Annuity Premiums (In US $Million) and % Change (YoY) for Hartford
Life & Annuity Insurance Co., Allianz Life Ins. Co. of North America,
Metropolitan Life Insurance Co., Pacific Life Insurance Co., Teachers Ins.
& Annuity Assoc. of America, Hartford Life Insurance Co., Jackson National
Life Insurance Co., Transamerica Life Ins. Co., Allstate Life Insurance Co.,
and Lincoln National Life Insurance Co. (includes corresponding Graph/Chart)
6b. Universal Life Products Market
IUL Sales Up in 2006
Table 165: Universal Life Sales in the US: 2000-2003 (in $ Million)
(includes corresponding Graph/Chart)
Table 166: US Insurance Industry (2006): Indexed Universal Life Insurance
Sales in US$ Million for Select Companies - AEGON, Allianz Life, AVIVA,
Conseco, Lafayette Life, Midland National life, National Life Group, Old
Mutual Financial Network, and Pacific Life Companies (includes corresponding
Graph/Chart)
Table 167: US Insurance Industry (2005): Percentage Breakdown of Equity
Indexed Life Insurance Sales for Aegon Companies, AIG, AmerUs, Allianz,
Conseco, Lafayette, LSW/ Natl Life Vt, Midland National, Old Mutual, Pacific
Life, and Others (includes corresponding Graph/Chart)
Table 168: Leading Players in the US Universal Life Insurance Market by
Market Share: 2004 (includes corresponding Graph/Chart)
Group Universal Life Insurance in the US...
6c. Variable Life Insurance
Market Faces Key Challenges...
Hard Times Lie Ahead
Reasons for Low Sales of VL
6d. Mutual Life Insurance
Healthy Growth for Separate-Account...
Good Run Comes to an End...
Demutualization Shrinks Market...
6e. Sales of Single Premium Life on the Rise
Table 169: Leading Players in US Life Insurance Market (2001 & 2002):
New Life Insurance Premiums (In US$ million) Sold through Banks - Liberty
Life, Aegon, Allstate Financial, CGU Life, Nationwide, Golden Rule, First
Penn-Pacific, Hartford, CUNA Mutual, and AXA (includes corresponding
Graph/Chart)
Banks' Premium Sales On a Declining Spree...
Ordinary Life Insurance Policies
Table 170: Leading Players in US Ordinary Life Insurance Market (2003):
Amount Issued in Dollars and % Change (YoY) for AIG Life Group, Protective
Life Corp, Northwestern Mutual Group, Citigroup, Aegon USA Inc, NY Life Group,
State Farm Group, Metropolitan Life & Affiliated, Genworth Finl Group, and
Prudential of America Groups (includes corresponding Graph/Chart)
Table 171: Ordinary Life Insurance Sales in the US by Type of Insurer:
2000 (In US$ Billion) (includes corresponding Graph/Chart)
6f. Key Trends/Issues in the Life Sector
Term Life Insurance Rates to Decline
Premium Rates on Southward Journey
Graying Baby Boomers Offer Brighter Opportunities
Unprecedented Shift in the US Population...
Table 172: Reversal of the Demographic Balance in the US: 1970-2020e
(Millions) (includes corresponding Graph/Chart)
Cell-Phone Related Health Risk Insurers and Policyholders Cross Swords
Restructuring of Life Market...
Life Insurers Collect Fee Income...
Terror Strikes Lives...
Affect of AIDS
Working Women: A Potential Market...
Disputes in the Life Insurance Industry...
US Life Insurance Companies on to Securitization
Attractiveness of Other Markets for Foreign Life Insurers
Demographic Forces Shaping Life Insurance Business
6g. Distribution Systems in Life Insurance
Distribution Pattern of the US Life Insurance Sector - A Glance
Changing Face of Distribution ...
Table 175: US Insurance Industry (2006 & 2007): Percentage Breakdown
of Sales of Individual Annuities by Distribution Channels - Career Agents,
Financial Planners/ Independent Broker-Dealers, Independent Agents, Banks,
Stockbrokers, Direct Response and Others (includes corresponding Graph/Chart)
Table 176: US Life Insurance Market (2006): Percentage Breakdown of
Immediate Annuity Sales by Distribution Channel -Broker/Dealers, Captive
Agents, Independent Producers, Banks & S&Ls, and Others (includes
corresponding Graph/Chart)
Customer Needs and Values
Market and Competitive Dynamics
Internal Capabilities and Constraints
Strategy, Goals and Objectives
6h. Challenges Confronting the Industry
Regulatory Hurdles
Drawbacks of the Life Insurance Market
Factors to Improve Performance
6i. 401(K) PLANS
Market Perspective
6j. Variable Annuity
Market Overview
Sale of Variable Annuities on the Rise
Table 177: US Variable Annuity Industry (2006): Sales of Variable
Annuities in US$ Billion by Leading Players (includes corresponding
Graph/Chart)
Table 178: US Insurance Industry: Net Assets of Variable Annuities in US$
Billion for the Years 2005, 2006 and 2007 (includes corresponding Graph/Chart)
Table 179: US Insurance Industry (2006 & 2007): Percentage Breakdown
of Variable Annuity Sales by Distribution Channels - Independent NASD Firms,
Captive Agents, Banks/Credit Unions, New York Wirehouses, Regional Investment
Firms and Direct Response (includes corresponding Graph/Chart)
Table 180: US Equity Index Annuities Market (2006 & 2007): Percentage
Market Share of Total Sales by Company - Allianz Life, AVIVA, ING, Old Mutual,
Midland National Life, American Equity, Equitrust, Jackson National Life,
Jefferson-Pilot, Sun Life and Others (includes corresponding Graph/Chart)
A Recent Past Overview
Table 181: Sales of Variable Annuity: 1997- 2003 (in $ Billion) (includes
corresponding Graph/Chart)
Table 182: US Life Insurance Market (2005): Percentage Breakdown of
Variable Annuity Sales for AIG/SunAmerica/ VALIC, Axa Financial/MONY,
TIAA-CREF, Hartford Life, ING Group, John Hancock Life, Lincoln National Life,
MetLife, Pacific Life, Pru/American Skandia, and Others (includes
corresponding Graph/Chart)
Table 183: US Life Insurance Market (2006): Percentage Breakdown of
Variable Annuity Sales by Distribution Channel - Bank/Credit Union, Captive
Agency, Direct Response, Independent NASD Firms, New York Wire Houses, and
Regional Investment Firms (includes corresponding Graph/Chart)
Table 184: US Leading Variable Annuity Issuers by New Sales in US$
Billion: 2003 (includes corresponding Graph/Chart)
Resurgence Through Consolidation and Diversification...
Potential Base Innovations...
The Plans ' n' the Benefits
Annuities: ' Variable' Performances...
Bonus Annuities Make Rapid Inroads...
Wrap Programs...
Distribution of VA - Refocus for the Better
Table 185: Key Distribution Channels for Variable Annuities in the US in
%: 2001, 2000 & 1999 (includes corresponding Graph/Chart)
Outlook
6k. Fixed Annuities
Drop in Sales of Index Annuity
Table 186: US Life Insurance Industry (2006): Percentage Breakdown of
Fixed Annuity Life Insurance Sales by Leading Companies - Allianz Life,
American Equity, AVIVA, Equitrust, ING, Jackson National, Jefferson-Pilot,
Midland National, Old Mutual, Sun Life, and Others (includes corresponding
Graph/Chart)
Table 187: US Life Insurance Industry (2006): Percentage Breakdown of
Equity Indexed Annuity Sales for Allianz Life, American Equity, AmerUs Group,
EquiTrust, ING, Jackson National Life, Jefferson-Pilot, Old Mutual, Midland
National Life, Sun Life, and Others (includes corresponding Graph/Chart)
Table 188: US Life Insurance Industry (2003 & 2004): Percentage Value
Breakdown of Fixed Annuity Life Insurance Sales by Leading Companies for AIG,
Allianz, Allstate, New York Life, ING, Old Mutual, Jackson National
(Prudential UK), Genworth Financial, Aegon, and Sun Life (includes
corresponding Graph/Chart)
6l. Bank Annuities
Table 189: US Fixed Annuities Market (2006): Sales of Fixed Annuities
Through Banks for Leading Players in US$ Million (includes corresponding
Graph/Chart)
Table 190: US Variable Annuities Market (2006): Sales of Variable
Annuities Through Banks for Leading Players in US$ Million (includes
corresponding Graph/Chart)
A Recent Past Overview
Table 191: Leading Individual Annuity Sellers Through Banks in the US:
2002 & 2003 (In US$ Billion) (includes corresponding Graph/Chart)
6m. Offshore Annuities
Benefits Galore
Bar on Direct Solicitation Takes its Toll
Offshore Variable Life Insurance - Holds Much Promise
Transparency Takes the Curtains Off
The Call for ' Clean Money' ...
7. Health Insurance
7a. Market Overview
Hospitals, Healthcare And Managed Care Systems - A Totally Competitive Pie
Health and Managed Care - Looking Up to 2007
Highlights
7b. Current Trends in the Market
Health Conscious Drives More Business in Healthcare Insurance Sector
Health Insurance Mergers Generate Oligopolies and Monopolies
Sale of Medibank Private Affects Health Insurance Sector
Overweight Individuals Face Higher Insurance Premiums
Baby Boomers Face Expensive Healthcare Services & Inadequate Insurance
Rising Insurance Costs Pin down Health Insurance Levels
Compulsory Coverage for Children - It' s A State Boon
Employers Offering Integrated Healthcare schemes for Improving Productivity
Online Insurance Companies Go All Out to Convince Americans to Insure
their Health
Health Insurance Increases Focus on Online Channel
Health Insurance Companies Venture into the Expanding Individual Health
Insurance Market
Self Insurance Programs - Making Their Presence Felt
The Blues Turning Pale due to rising Mediclaim Costs
Innovative Approaches
The US-Mexico Cross-Border Health Insurance Market
A Troublesome Health Insurance Sector
Expectations for Healthcare Market
7c. Key Players
Table 192: US Health Insurance Market (2003 & 2004): Leading Companies
Ranked by Revenues (In US$ billion)for UnitedHealth Group Inc., WellPoint
Health Networks Inc., CIGNA Corp., Aetna Inc., and Anthem Inc.(includes
corresponding Graph/Chart)
Table 193: Leading Players in US Health Insurance Market (2002): Group
Accident and Health Insurance Premiums for United Healthcare Insurance Co.,
Connecticut General Life Insurance Co, Health Care Svc. Corp., Guardian Life
Insurance Co. of America, Aetna Life Insurance Co., Metropolitan Life
Insurance Co., Humana Ins. Co., Principal Life Insurance Co., Blue Crass &
BlueShield of Fla., and Anthem Health Plans of Va.,Inc (includes corresponding
Graph/Chart)
Table 194: Leading Healthcare Plans in the US: 2001 (In Millions)
(includes corresponding Graph/Chart)
Decisions Facing the Indemnity Companies...
Integration of Group Medical Benefits and Workers' Compensation...
7d. Challenges Facing Healthcare Insurers...
Types of Health Insurance Policies
Medical Expense Plans...
Freedom-Of-Choice Plans...
Preferred Provider Organization (PPO) Plans...
Health Maintenance Organizations (HMOs)...
Short-Term Health Insurance...
Catastrophic Health Insurance...
Traditional Fee-for-Service Coverage...
Point-of Service (POS)...
COBRA...
7e. Historic Perspective
Key Trends in the 90s...
7f. Market Characteristics
A Bi-Polar Market...
PPOs Rule the Market...
Online Enrolment for Health Benefits on the Rise...
Individual Health Insurance Market at a Glance
Group Health Insurance
Employer-Sponsored Health Insurance
Snapshots
Table 195: Breakdown of Covered Employees in the US by Type of Coverage
& Employer Size: 2001 (In %) (includes corresponding Graph/Chart)
Three-Tier Health Plans...
MEDICAID in the US
Medicare Costs More...
Medicaid Spending Trends / Projections...
Table 196: Annual US Medicaid Expenditure Projections: 2001 - 2010 (In US$
Billion) (includes corresponding Graph/Chart)
Nursing Home Liability
7g. Long-Term Health Care in the US
Long-Term Insurance Products - A Brief
Table 197: US Long-Term Care Insurance Market (2005 - 2007): Percentage of
Workers Having Access to Long-Term Care Insurance (includes corresponding
Graph/Chart)
Table 198: Leading Players in the US Long-Term Care Insurance Market
(2005): Direct Premiums Earned by Company - John Hancock Life Insurance Co.,
Genworth Life Insurance Co., Metropolitan Life Insurance Co., Continental
Casualty Co., and Bankers Life & Casualty Co., in US$ Million (includes
corresponding Graph/Chart)
LTC-Linked Insurance: The Trusted Companion During Uncertain Times
Demand for LTC Insurance Likely to Prop Up...
Market Set to Grow
LTC Insurance Witnesses Rapid Consolidation and Stricter Underwriting...
Sources of Funding...
LTC Vs Disability Income...
LTC Insurance VS Other Investments - A Market Scenario
Division of Long Term Care Insurance by Product...
What are Viatical Settlements?
Rampant Unfamiliarity...
7h. Managed Care Trends
The Negatives
Solutions New and Old...
Health Maintenance Organization (HMO) Segment
Health-Maintenance Organizations in Colorado Report Losses...
HMOs Implement Disease Management Programs...
HMOs Pay More to Hospitals...
Changing Relationships of the Insurers and the HMOs...
The HMO - PPO (Preferred Provider Options) Standoff
Factors Fueling PPO Growth...
The Winner to Be...
Health Reinsurance - A Costly Affair?
Key Factors Driving Cost Increases...
Coverage Limits...
Self-Insured Sitting Pretty...
Concerns Over Rising Health Insurance Costs
Table 199: Factors Contributing to Rising Health-Care Costs: On a Scale
1-10 (includes corresponding Graph/Chart)
Table 201: Uninsured (Health) US Population - Breakdown by Different
Characteristics: 2000
Table 202: Children Lacking Health Insurance in the US by Different
Characteristics: 2000 (includes corresponding Graph/Chart)
Uninsured Workers in the US...
Other Major Issues
Viability of Genetic Testing...
Expenses of Long Term Care...
Understanding Technology...
Class Action Lawsuits
Women and Health Insurance
Table 203: Health Insurance Coverage by Type for US Women Aged 18-64: 2001
(includes corresponding Graph/Chart)
Table 204: Insured Women' s (18-64 Yrs) Healthcare Plans in the US: 2001
(includes corresponding Graph/Chart)
Table 205: Demographical Study of Women Lacking Health Insurance: 2001
(includes corresponding Graph/Chart)
Number of Women Without Health Insurance on a Rise...
State Children' s Health Insurance Program (SCHIP)
A Drain on Medicaid Budgets...
Eligibility Parameters...
The Medicare + Care Choice Program
7i. Disability Insurance
Market Overview
Disability Insurance: A Key Life Segment...
Features of Group Disability Income Programs
Features of Individual Disability Income Programs
Changes in the Disability Market...
Potential of the Disability Insurance Market...
Hard Long-Term Disability Insurance Market
Table 206: Leading Group Disability Insurers in the US (2006): Premiums in
US$ Billion for Aetna, Assurant, Cigna, Guardian, Hartford Life, Lincoln
Financial Group, Metlife, Standard Insurance, Reliance Standard, and
Unumprovident (includes corresponding Graph/Chart)
Table 207: Leading Players in the US Long Term Disability Insurance
Market: 2003(Premium in $ Million) (includes corresponding Graph/Chart)
Table 208: Leading Players in the US Short Term Disability Insurance
Market: 2003 (Premium in $ Million) (includes corresponding Graph/Chart)
Limiting Disability Claim Payments...
Individual Disability Insurance Market Makes a Turnaround...
Non-Cancelable Disability Income Insurance
Mental Disorders - Adding a New Dimension to Disability Insurance
The Cause and the Solution...
8. Alternative Markets
An Overview
Table 209: US Insurance Industry: Major Alternative Risk Transfer Products
(2001) (In $ billion) (includes corresponding Graph/Chart)
High Retention/Deductible Programs...
Retrospectively Rated Plans...
Captives (Group, Association, Rent-a-Captive)...
Table 210: US Insurance Industry (2003 & 2004): Number of Captives by
Location(includes corresponding Graph/Chart)
Pros & Cons of Rules on Captives
US Captive Domiciles-Alternate Market Set to Grow
Pools/Trusts...
Self-insurance Groups...
Producer-Owned Insurance Companies...
Consolidation Process
9. Reinsurance Market
Standing Strong Amid Blues...
2004 - A Round up
US Group Reinsurance Market Slows Down in 2005
Catastrophe Reinsurance Experiences Growth
Nationwide Insurance Adopts Fiserv' s Solution to Manage Reinsurance
Table 211: US Reinsurance Industry (2006): Premiums Ceded to Reinsurers
(Affiliated and Unaffiliated) Outside US by Country - Bermuda, Switzerland,
U.K., Germany, Cayman Islands and Others in US$ Billion and Market Share
(includes corresponding Graph/Chart)
Table 212: US Reinsurance Market (2005): Percentage Breakdown of Net
Written Reinsurance Premiums by Category - Allied, Auto Physical Damage,
Commercial Auto Liability, Commercial Multiple Peril, Fire, Homeowners, Inland
Marine, Medical Malpractice, Private Passenger Auto Liability, Product
Liability, Other Liability, Workers' Compensation, and Other Lines (includes
corresponding Graph/Chart)
Table 213: Leading Players in the US Reinsurance Market (2005): Net
Written Premiums in US$ Billions for Berkley Insurance, Employers Reinsurance,
Everest Reinsurance, Folksamerica Reinsurance, National Indemnity, Odyssey
America, Partner Reinsurance, Platinum Underwriters, Swiss Reinsurance, and
Transatlantic Reinsurance (includes corresponding Graph/Chart)
US Ordinary Reinsurance Market on the Downfall
Table 214: Leading Players in US Ordinary Reinsurance (In-Force) Market
(2005): Percentage Breakdown by Company - Canada Life, General Re life,
Generali USA Life Re, GE Ins. Solutions, Munich American Re, Revios Re, RGA Re
Company, Scottish Re, Swiss Re, Transamerica Re, and Others (includes
corresponding Graph/Chart)
Table 215: Leading Players in US Ordinary Reinsurance (Assumed) Market
(2005): Percentage Breakdown by Company - Canada Life, General Re life,
Generali USA Life Re, Manufacturers Life, Munich American Re, RGA Re Company,
SCOR Life Re, Scottish Re, Swiss Re, Transamerica Re, and Others (includes
corresponding Graph/Chart)
Table 216: Leading Players in US Reinsurance Market (2005): Recurring New
Business in US$ Million for Canada Life, General Re, Generali USA, MARC, RGA,
Revios, Scottish, Swiss Re, SCOR, and Transamerica (includes corresponding
Graph/Chart)
Reinsurers to Offer Public Stock
The Foreign Presence
Table 217: Leading Reinsurers in the US by Percentage Market Share of
Gross Written Premium: 2004 (includes corresponding Graph/Chart)
Table 218: Leading Property/Casualty Reinsurers in the US by Net Premium
Written in US$ Billions: 2003 (includes corresponding Graph/Chart)
Several Reinsurers Pull Out of US Market
Consolidation in the US Life Reinsurance Market: 2002 Vs 2004
Impact of the Consolidation Process...
A Historic Review
Table 219: Business Break-Up (In %) of Leading Reinsurance Sellers in the
US: 2000 (includes corresponding Graph/Chart)
Other Key Trends
Globalization
Evolution of New Contracts
The Problem of Disputes
Derivatives Rise...
Effect of London Market Consolidation...
Catastrophe Reinsurance
High Rates Characterize Catastrophe Reinsurance
The Group Life Catastrophe Reinsurance Market
US Catastrophe Reinsurance Schemes
TRIA- Main Characteristics
Waterfront Property Insurance
Special Calamity Plans
Life Reinsurance Business
Changing Face of Life Reinsurance...
Cession Rates Drive Growth...
Advantage Life Reinsurers...
Table 220: Leading Players in US Life Reinsurance Industry (2005):
Premiums in US$ Billion for Select Companies - General Re Life, Lincoln
National Life, London Life, Munich American Reassurance, RGA Reinsurance,
Scottish Re, Security Life of Denver Insurance, Swiss Re Life & Health,
Transamerica Financial, and Transamerica Occidental Life (includes
corresponding Graph/Chart)
Table 221: Leading Players in US Life Reinsurance Industry (2005):
Percentage Share of New Business Premiums Written by Company - Canada Life,
General Re Life, Generali USA Life Re, Munich Re, RGA, Revios Re, SCOR Life
Re, Scottish Re, Swiss Re, Transamerica Re, and Others (includes corresponding
Graph/Chart)
Table 222: Leading Players in US Life Reinsurance Industry (2005):
Percentage Share of Premiums Written (In-Force) by Company - Canada Life, GE
Insurance, General Re Life, Generali USA Life Re, Munich Re, Revios Re, RGA,
Scottish Re, Swiss Re, Transamerica Re, and Others (includes corresponding
Graph/Chart)
Key Trends in Life Reinsurance...
Insurers Shed Risk to Assume Broader Role
Terms Policies Hot on Reinsurance Circuit
Factors Influencing Growth in Life Reinsurance Market
Demutualization Pushing the Reinsurance Market
Regulations Promote Reinsurance Business
Outlook...
Reinsurance Broking Industry
Smaller Brokers Call the Shots...
Hard and Soft Market Issues...
Big Brokers Bring Incentives to Work...
Outlook...
10. Captive Insurance
Captives Set for a Big Leap
Hawaii - A Major Captive Domicile
Hawaii Aims to Emerge as Global Player in Insurance Market
Regulatory Overview...
11. Surplus Lines
Surplus Lines Market - Current and Potential Trends
Prospective Trends of US Specialty Lines Insurance Market
Surplus Lines - Going Strong
Leading Players
Table 223: Leading Players in the US Surplus Lines Insurance Market
(2006): Nonadmitted Direct Written Premiums by Company - Lexington Insurance
Company, American International Specialty Lines Insurance Company, Steadfast
Insurance Company, Scottsdale Insurance Company and Columbia Casualty Company
US$ Billion (includes corresponding Graph/Chart)
Table 224: Leading US Surplus Line Groups (2005): Premiums in US$ Million
for Select Companies - ACE INA, Arch Insurance, AIG, AXIS, Berkshire-Hathaway,
CNA Insurance, Markel, Nationwide, WR Berkley, and Zurich (includes
corresponding Graph/Chart)
Table 225: Leading US Domiciled Surplus Line Writers in 2000 (In US$
Million) (includes corresponding Graph/Chart)
The Powerhouse Called Lloyd' s
The Market in California
Key Trends
Hardening Prices...
Pools
Risk Retention Groups (RRGs)
Purchasing Groups (PGs)
Self-Insurance Groups (SIGs)
12. Bancassurance in The US
Table 226: Leading US Banks Ranked by Insurance Sales Income (In US$
Million) for 2002 (includes corresponding Graph/Chart)
Table 227: Leading US Bank Holding Companies by Insurance Revenues (In US$
Million) for 2002 (includes corresponding Graph/Chart)
Life Insurance Business in Banks Get New Life
MetLife
Hartford Life Insurance Company
The Banking Channel
Prudential Insurance Company of America Inc
Nationwide Insurance
Competition from European Banks...
Structural Comparisons - Banks and Insurance Companies...
Banks Vs Insurance Companies
Disturbingly Underserved Nature of the Insurance Marketplace...
Risks...
Insurance Carrier Versus Agent - Shifting Support in Washington...
13. Marketing and Distribution
Distribution Channels - Changing Scope
Table 228: Percentage Share of Major Distribution Channels in the US: 1998
Vs 2003 (includes corresponding Graph/Chart)
Work-Site Marketing Becoming Popular
Table 229: US Worksite Life Insurance Sales (In %) by Line of Business for
2003 (includes corresponding Graph/Chart)
Independent Market Organizations - IMOs
Independent Producers Call the Shots
Insurance Brokerage
Brokerage Market Witnesses Dampened Activity on the M&A Front
Snapshots of the Brokerage Sector in the US:
Table 230: Leading Business Insurance Brokers in the US by Brokerage
Revenues: 2003 (In US$ Billion) (includes corresponding Graph/Chart)
Managing General Agents
Life and Health Insurers Hitch Onto the Internet Bandwagon
Demographics Propel the Sector...
Table 231: Online Sales of Life and Health Insurance in the US: 2000-2005
(In US$ Billion) (includes corresponding Graph/Chart)
Opportunities Abound for Small Business
Table 232: Small Office/Home Office Premiums in the US: 2001 & 2005
(In US$ Billions)
Buying Insurance - Online
Table 233: Consumer Preferences for Online Insurance Purchases in the US
(In %)(includes corresponding Graph/Chart)
Role of Actuaries
Table 234: Actuaries in Insurance & Allied Fields in the US: 1999-2001
(includes corresponding Graph/Chart)
Call Center Expenditures
Table 235: US Insurance Sector Investments in Call Center Technology:
2000-2005 (In US$ Millions) (includes corresponding Graph/Chart)
Table 236: US Insurance Investment in Call Centers by Category: 2000-2005
(In US$ Millions) (includes corresponding Graph/Chart)
14. Regulatory Overview
National Association of Insurance Commissioners (NAIC) of the US
USA PATRIOT Act - Challenges
Vulnerable Targets...
The New Disabilities Act
Proposition 103 Keeps Insurance Rates in Check
Effects of Florida' s Insurance Reform
New Property Insurance Legislation in Florida
15. Product Launches in the US
Anthem launches New Insurance Plans for Small Businesses
Aetna Introduces Insurance Products for New and Small Businesses
Precedent Introduces Innovative Health Insurance Plans
Greenbee.com Offers New Pet Insurance Cover
Performance Insurance introduces Low Cost Car Insurance
Vsurance Introduces Pet Boarding Kennel Insurance
Lexington Enhances BioChem Shield(SM) Capacity
Vsurance to Launch Insurance Product for New Pet Owners
Zurich to Introduce Unicover(r) VI Policy
Allstate Introduces New Landlord Insurance Product in Texas
Texas Mutual to Launch e-Billing System
Hiscox USA to Introduce Allied Healthcare Insurance
RMS to Launch Reinsurance Platform to Transform Portfolio Risk Management
Darwin Introduces CRLI
Guy Carpenter Introduces SelectCat
XL Insurance Introduces Product Recall Insurance
Farmers Insurance Offers New Auto Insurance Policy
Ben-e-lect Offers New Dental Plan
AIG Launches AIG Passport(SM)
National Insurance Launches New Motorcycle Policy
Humana Unveils New Health Insurance Policies
Anthem Life Rolls Out Resource Advisor(tm)
Travelers Establishes Catastrophe Bond Program
Health Net Introduces Medicare Plan
John Hancock Annuities Provides Optional Withdrawal Benefit
Humana Launches Affordable Health Care Plans
Golden Eagle Launches Solution for Commercial Businesses
Quadrant' s Nursing Home Liability Program Now in Texas
ASPCA Releases New Pet Health Insurance Product
Guardian Life and Health Net Launches Healthcare Policy
American National Introduces New Indexed Annuity
Loyal American Life Unveils New Policy for Baby Boomers
Fort Dearborn Introduces Dental Insurance Program
Squaremouth Launches Fully Customizable Travel Insurance System
USHealth Group Launches Health Insurance Product
USHealth Group Introduces New Fixed-Rate Insurance Scheme
American Specialty Launches a New Health Plan
Blue Cross and Partners Propose the Launch of Oklahoma Chamber Blue Health
Insurance Plan
Meadowbrook Insurance Group Introduces Medical Malpractice Product
Experian Offers AutoCheck with Buyback Insurance Facility
NeoStem Inc. Introduces "True Life Insurance"
ADN Unveils Novel Insurance Services for UK Auto Dealership Market
INA offers Auto Insurance Products through Ford Motor Company Insurance
Program
16. Recent Industry Activity in the US
AIG Acquires 21st Century Insurance Group
AmTrust Completes Acquisition of Associated Industries
Euler Hermes Acquires United Mercantile
Fort Dearborn Life Acquires Northstar Life
Rockhill to Acquire RTW
GAINSCO Divests General Agents Insurance Company
SICO USA Acquires Republic Insurance
Hilb Rogal & Hobbs to Acquire BACIA
Unitrin to Divest Unitrin Business Insurance
Liberty Mutual Acquires Ohio Casualty
Tawa to Acquire PXRE Reinsurance Company
Hyperion Acquires International Program Managers
Citi Acquires BISYS' Investment Service Division
J.C. Flowers Acquires BISYS' Retirement andInsurance Service Division
Franklin Holdings' Subsidiary Acquires JamesRiver Group
Allied World Assurance to Take Over ConveriumInsurance
American Financial Group to Acquire StrategicComp Holdings
Humana Acquires KMG America
USI Holdings Acquires Treadwell & Harry
The Doctors Company to Acquire SCPIE Holdings
Farmers Insurance Acquires Bristol West Holdings
Coventry Health Care Acquires Certain Mutualof Omaha
W.R. Berkley Acquires American Mining Insurance
Assurant Extends Distribution Pact withService Corporation
CUNA Mutual Insurance Society to Merge withCUNA Mutual Life Insurance
CUNA Acquires Stake in Producer' s Ag
Endurance Acquires ARMtech
Unitrin' s Subsidiary Acquires Merastar
Alleghany Acquires EDC
Great-West Lifeco to Divest Great-West HealthcareBusiness
Skywire Software and SISTRAN into an Alliance
Darwin to Enter into Strategic Partnership with K&B
Unitrin to Divest UBI to AmTrust
Munich Re to Acquire Midland Company
Western National and Farmers Home PolicyholdersSupport Merger Plan
CMLIC & CUNA Mutual Insurance Society to Merge
UnitedHealth Group and Sierra Health Services ObtainsMerger Approval
from California Departmentof Insurance
Liberty Mutual Acquires Ohio Casualty
AEGON to Acquire Merrill Lynch Life
Zurich Acquires Bristol West Holdings
Brown & Brown Acquires Independent InsuranceAssociates
Brown & Brown Acquires Assets of Lloyd
Brown & Brown Acquires Assets of ProfessionalRisk Managers and PRM
Group
Van Gilder & EnRisk to Offer Risk Counsel andInsurance
Brown & Brown Acquires Island Risk Management
Brown & Brown Acquires JPMorgan' s Property andCasualty Insurance
Business
Brown & Brown Acquires Dalton' s Assets
Brown & Brown Acquires Assets of SecurityInsurance and Security Risk
Managers
Fidelius Group Acquires Westward Counties
American Wholesale Group to Acquire AEU
Medical Mutual Takes Over Carolina Care Plan
National Financial Teams Up with ING
AIG to Take Over 21st Century Insurance
J.C. Flowers to Buy Stake in Response Insurance
Ameritas to Take Over LifeRe
Liberty Mutual to Buy Ohio Casualty
Alleghany to Acquire Employers Direct Corp.
UnitedHealth Acquires Sierra
TFIA and BancInsure Sign Agreement
Highmark and Independence Blue Cross to Merge
APS Acquires APIE
Farrah Extends Contract with NAIC
Navigators Group Expands Excess Casualty Capacity
Johnson Insurance Takes Over Kaufman/Haum
Watkins Group Buys AIC-Sun Belt
Viking Insurance to Acquire NIA Corp
ASAM Acquires Frontline Agencies of Alabama
Goldman Sachs to Takeover USI Holdings
First American Buys Out Complete Title Services
Houston General to Offer P&C Insurance in Illinois
Union Bank of California Acquires Armstrong/Robitaille Business and
Insurance Service
Eastern Holding Buys Additional 50% Stake in EducatorsAlliance Insurance
Nemco Brokerage and National Financial Partners BuyGroup Insurance
Business from Axa Network andBisys Insurance Services
Fusura Established through a Joint Venture
The Horton Group Signs Joint Venture with Wanxiang
John Hancock Life Insurance Forms Joint Venture withTianan Insurance
AIG and Eureko to Form Cooperative Venture
Chubb Corp, American International Group and GS CapitalPartners
Establish Reinsurance Joint Venture
Acordia Enters into Joint Venture with Heath LambertGroup
Chubb Specialty Insurance Establishes New Unit
Reinsurance Group of America Creates New Unit
Aon Risk Services and Non Marine ReinsuranceDivision Establish
Healthcare Plus
Farmers Insurance Group Opens New Customer ServiceCenter
Zurich Life Forms Zurich Life International
MMC Capital Establishes AXIS Specialty; New CompanyBegins Operations
Zurich Launches New Reinsurance Company
Omega Management to Offer Reinsurance Services toRun-Off Businesses
Heiwa Opens Captive Insurer in Hawaii
Transamerica Reinsurance Opens Base Office inHong Kong
TurboCoverage Adds Five Insurers to its Lineup
Navigators Management Commences Navigators Pro
National Association of Mutual Insurance CompaniesCommences Catastrophe
Facility
Kingsway Financial Services Signs Agreement withThe Vision Insurance
Group
LOMA Forms Partnership with Synergy 2000
BISYS Forges Strategic Alliance with GeneralInformation Services
Explorer Insurance Renews Deal with ProcessClaims
Alliance between RiskMeter and EQECAT
American Association of Health Plans affiliates withInternational
Federation of Health Plans
Vesta Insurance Finalizes Agreement with New SouthFederal Savings Bank
and Subsidiary
Target Capital and Gulf Insurance Group Join Forces
St. Paul Allies with LoJack to Enhance VehicleAnti-Theft Protection
Insight to Underwrite KEMPES Accountants,Architects & Engineers
Professional Liability
Tower Street Gets Two New Marketing Partners
Birla Sunlife Insurance and Citibank Join Togetherin India
Frontier Insurance (USA) Amends ReinsuranceAgreement with National
Indemnity
CheckFree i-Solutions Reaches an Agreement withAmica Mutual Insurance Co.
R.C Olmstead and CheckFree i-Solutions Sign anAgreement
Aquila Forges Partnership with Macquarie Bank
Aquila, Inc Forms Alliance with Hiscox Plc
Aquila Signs Agreement with Mitsui Marine and FireInsurance
InsuranceNoodle to Collaborate with MarketScout
MasterCard Enters into an Alliance with ePolicy.com
Wells Fargo Enters into Private-Label Deal withInsureZone
ePolicy.com Insurance Services Signs Alliance withSt. Paul Cos
US Bancorp Enters into Partnership with Great-West Life
Wisconsin Physicians Service Insurance ReceivesContract from the US
Government
Virginia International Hires New York Life Benefit forPension Plan
Fidelity & Deposit Companies to Make Available E-RiskPolicy to
Totality Customers
Bankers Insurance Group Signs Agreement with VanguardFire and Casualty
Canada Life Assurance Forms Alliance with OhioNational Financial Services
InsureMyTrip.com Enters into Partnership withUnicard
Lloyd' s, NYSID Reach Agreement
InsureZone' s AgentSecure Finalizes Marketing Pacts
US Transportation Risk Finalizes Agreement withQualCorp
HNC Insurance Solutions and Insurance Services OfficeEnter into an
Alliance
Financial Profiles and Acentas.com Form StrategicAlliance
Drivershield.com Signs Agreement with FarmersAlliance
Vesta Insurance Group Signs a Marketing Agreementwith New South Agency
Warrantech Corp. Signs Financial Arrangement Letterof Intent with Insurer
American Modern Insurance Group and the AmericanExpress Property
Casualty Cos Tie Up
Swiss Re New Markets Corp. and Mirant Enter intoAgreement
Pethealth Markets Policies for Pets Adopted fromPetfinder.com
Bankers Insurance Group Transfers 67,000 policies toVanguard Fire &
Casualty Co.
Digital Insurance Signs Up with Six Carriers to MakeHealth Insurance
More Accessible
NetInsurance.com Signs Distribution Agreementswith 5 Internet Affinity
Providers
Banc of America Investment Services Signs Agreementwith Jefferson Pilot
Financial
Fidelity National Financial Enters into a Partnershipwith London Bridge
Group
Health Net and Sutter Health Sign a Contract
Kemper Insurance Companies and Aquila SignPartnership Agreement
Jamieson Laboratories Signs Contracts with Four HealthManagement
Organizations
LaSalle Bank Forms Alliance with Business-BackersManagement
Paymaxx and Hartford Financial Services Group Forman Alliance
Minnesota Life Insurance Co. Gets Contract fromIllinois State
IPC Signs an Inpatient Care Agreement with PacifiCareof Texas
Liberty Mutual and OneBeacon Enter into a Contract
Ascension Health Sells Partners First
Symons International Sells Crop Insurance Assets
Clarica Sells Milwaukee to National Guardian
Cigna Divests Stake in Yasuda Kasai Himawari LifeInsurance
Health Net Divests Foundation Health Plan for US$49Million
Old Republic International Discontinues ReinsuranceOperations
AMS Ceases Operation of TowerStreet
CalFed Investments Increases Exposure in Long-Term-Care Insurance Market
John Hancock Expands Distribution Outlets
Hartford Financial Enters Asian Markets
Volvo Renames its Insurance Division
Liberty Mutual Insurance and Liberty Mutual FireInsurance Policyholders
Approve Mutual HoldingCompany Plan
PartnerRe Reorganizes US Treaty ReinsuranceOperations into Five Teams
Mutual Risk Management Restructures Operations
Equitable Distributors Cuts Wholesalers
Aon Brings Wholesale Brokerage Business Under theBrand Swett &
Crawford
American Heritage Life Insurance to be knownas Allstate Financial
Workplace Division
Prudential Insurance Co. of America AnnouncesChange of Name
Florida Physicians Insurance Co. Changes Name
WTC Leaseholder Sues ACE and XL Capital
National Indemnity - Insurer for 2002 SoccerWorld Cup
BluePaw Announces New Strategies
John Hannock Mutual Life Insurance Initiates LegalAction Against Five
Claims
ZNA Joins the Berne Union
AgentSecure Augments Business Through SevenNew Clients
18. Focus on Select US Players
ACA Financial Guaranty Corp.
Aetna Inc.
AFLAC
Allstate Financial Group
Ambac Assurance Corp.
American International Group, Inc.
AXA Equitable
Berkshire Hathaway
C.N.A. Insurance
Chubb Corp.
Cigna Corp.
Crawford & Co.
Farmers Insurance Group
Fidelity National Financial
Financial Guaranty Insurance
Financial Security Assurance Holdings Ltd.
Hartford Financial Services Group, Inc.
Health Net Inc
Humana Inc
John Hancock Financial Services
Liberty Mutual Group
Liberty Mutual Insurance Company
Lincoln National Corp.
MassMutual Financial Group
MBIA Insurance Corp.
Metropolitan Life Insurance Co
Mortgage Guaranty Insurance Corp. - Leading PrivateMortgage Insurer in
the US
Nationwide Group
New York Life Insurance Co.
PacifiCare Health Systems Inc.
Pacific Life Insurance Co.
Partner Reinsurance Company Ltd.
Pets Best
Prudential Financial
Radian Group
Republic Mortgage Insurance Co.
State Farm Mutual Automobile Insurance Company
Standard Insurance Company
The PMI Group, Inc.
Transamerica Occidental Life
The Travelers Companies, Inc.
Triad Guaranty Ins.
United Guaranty
UnitedHealth Group Inc.
United Services Automobile Association
Unum Group.
WellPoint Inc.
19. US' Leading Insurance Brokers
Aon Corp.
Arthur J. Gallagher & Co.
BB&T Insurance Services Inc.
Brown & Brown Inc.
Hilb Rogal & Hobbs Company
Marsh & McLennan Cos. Inc. - World' s Largest Insurance Broker
Wells Fargo & Co.
Wells Fargo Insurance Services - World' s 5th Largest Insurance Broker
COMPETITIVE LANDSCAPE
United States Insurance Industry published by Global Industry Analysts, Inc. in April 8, 2008. This report consists of Pages: 616 and the price starts from US $ 4950.
