[London, July 2025] Axco Insurance Information Services (Axco) has released the latest publication of its Life & Benefits Insurance Market Report for the United States, which provides a comprehensive analysis of the country’s life and benefits insurance market. The report offers exclusive insights, new statistics, and on-the-ground research into the sector's evolving landscape.
The United States life insurance market is the largest life insurance market in the globe and is currently impacted by political uncertainty, social trends and more. This report identifies critical trends, emerging opportunities, and challenges shaping the industry's future. Key findings include:
Market Growth & Premium Trends: ‘The profits of insurers in the healthcare industry are below levels experienced during the COVID-19 pandemic. From the NAIC 2024 mid-year report, the overall profit margin fell to 2.7% for the first six months of 2024 compared to 3.3% for the same period in 2023 and 5.3% in 2020.’
Line of Business Analysis: ‘The market for individual life, retail, is greater than that for group life (principally employee benefits). A considerable proportion of the life market relates to annuities. PA and healthcare, including long-term care, are also written by life companies. In 2024, life insurance premiums increased by 16%.’
Market Participants: ‘According to the American Council of Life Insurers (ACLI) there were 719 US life insurers operating in the domestic market at the end of 2023, showing a gradual decline since 2015 (814) as a result of consolidation from merger and acquisition activity. One estimate of the level of foreign ownership of the life insurance industry as at 2023 is 14%. In particular, involvement of companies controlled by Canada, Switzerland, Bermuda, Cayman Islands, Japan, the Netherlands, France, Germany and UK are noted.’
Regulatory Landscape: ‘The McCarran Ferguson Act of 1945 transferred the regulation of insurance from the federal government to the individual states of the union. This is codified in Title 15 of the US Code (USC)…. Consequently, most insurance legislation is enacted at state level and the states are very keen to retain this prerogative.’
Axco’s United States Life & Benefits Report draws on extensive primary and secondary research, is an essential resource for insurance professionals seeking to stay ahead in the US market. Visit https://www.axcoinfo.com/products/insurance-market-reports-life-benefits/ for more details and report contents.
Axco is the leading supplier of global insurance market information with over 55 years’ experience in researching and publishing industry intelligence on insurance and employee benefits. Its unique business model and methods of research have enabled the development of an extensive suite of products comprising in-depth reports, focused profiles, Q&A databases, intelligent questioning tools, and email services which are delivered to every corner of the globe.
