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Premiums in the life insurance industry, which includes annuities, increased by 14.1 percent in 2010, following an 18.4 percent decline the previous year. Net income investment income, which fell by 3.4 percent in 2009, increased by 4.7 percent in 2010. Net income rose by 30.5 percent in 2010, rising to $28.1 billion from $21.5 billion in 2009.
($ billions, end of period)
| 2006 | 2007 | 2008 | 2009 | 2010 | Percentage change from 2009 | |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Premiums, consideration and deposits | $576.6 | $611.2 | $625.2 | $510.4 | $582.6 | 14.1% |
| Net investment income | 161.5 | 168.0 | 162.2 | 156.6 | 164.0 | 4.7 |
| Separate accounts revenue | 20.2 | 22.9 | 21.2 | 20.4 | 23.4 | 14.7 |
| Total revenue | $785.6 | $815.1 | $844.7 | $776.7 | $774.5 | (0.3) |
| Benefits | 214.2 | 228.3 | 240.2 | 244.1 | 248.1 | 1.6 |
| Surrenders | 272.0 | 305.2 | 291.6 | 228.7 | 216.7 | (5.2) |
| Increase in reserves and deposits | 69.8 | 35.3 | 144.2 | 99.0 | 96.2 | (2.9) |
| Commissions | 49.7 | 50.7 | 51.7 | 48.9 | 49.2 | 0.7 |
| General and administrative expense | 49.3 | 52.1 | 53.6 | 54.2 | 56.9 | 5.0 |
| Net transfers to separate accounts | 61.0 | 66.1 | 22.7 | 11.1 | 29.3 | 163.3 |
| Policyholder dividends | 16.5 | 17.5 | 17.7 | 15.0 | 15.0 | (0.1) |
| Income tax | 11.0 | 11.5 | (0.1) | 10.7 | 9.0 | (15.7) |
| Net realized capital gains losses) | 6.5 | (1.5) | (50.9) | (28.7) | (16.0) | (44.2) |
| Net income | 37.0 | 31.6 | (52.3) | 21.5 | 28.1 | 30.5 |
| Pre-tax operating income | 41.4 | 44.6 | (1.4) | 61.0 | 53.1 | (12.9) |
Source: SNL Financial LC.