CAMBRIDGE, Mass., March 17, 2008 (PRIME NEWSWIRE) -- Highline Data, the premier provider of insurance industry financial statements and market data, is pleased to announce the updated delivery of 2007 annual data to customers of Insurance Analyst PRO, the organization's flagship online product.
According to initial, unconsolidated statutory filings published in Insurance Analyst PRO, the life and health insurance segment continued to grow steadily in 2007.
With 857 individual Life companies reporting (92 percent of expected filers), including 98 of the top 100 filers, Total Admitted Assets increased by 5.8 percent from $4.7 trillion to nearly $5 trillion, compared to 8 percent growth in 2006. Of the top 100 filing companies ranked by 2007 Total Admitted Assets, 23 companies experienced a decrease in their Total Admitted Assets.
Surplus, a financial measure similar to retained earnings, grew by 6.9 percent, from $302 million to $323 million, compared to 5.8 percent growth in 2006. Unconsolidated Net Gain from Operations decreased 9.7 percent, from $41 billion to $37 billion.
The Risk Based Capital Ratio for the 857 Life Company Composite decreased from 816 percent in 2006 to 805 percent in 2007. Eight companies reported an RBC Ratio below 200 percent.
Direct premium growth was strong, showing a 10 percent increase, from $597 million in 2006 to $657 million in 2007. The three major lines all showed increases: Individual Annuities increased 9.1 percent, from $187 million to $204 million; Individual Life increased 16.1 percent, from $122 million to $141 million; and Group Annuities increased 3.9 percent, from $115 million to $119 million.
"Most of the 2007 Life, Accident and Health filings are now available from Highline Data. They reveal that life insurers managed to sidestep the subprime credit debacle and come through 2007 in good shape," F. Reilly Cobb, vice president and managing director of Highline Data, said. "Still, the stock market tumble in the fourth quarter has taken a toll on many securities portfolios. First quarter filings will be the key to understanding how insurers have managed the market's impact as they move into 2008. Highline Data will continue to provide vital statutory and GAAP data to analysts for this critical research."
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2007 Key L&H Industry Statistics,
According to Highline Data 2007
2007 2006 % Change
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Composite Financial Statement Items (in billions)
Total Assets $4,989 $4,717 +5.8%
Unconsolidated Surplus $ 323 $ 302 +6.9%
Unconsolidated Net Gain
from Operations $ 37 $ 41 -9.7%
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Top Three Lines of Business by
Direct Premiums Written (in millions)
Individual Annuities $ 204 $ 187 +9.1%
Individual Life $ 141 $ 122 +16.1%
Group Annuities $ 119 $ 115 +3.9%
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About Summit Business Media
Summit Business Media was formed through Wind Point Partners' acquisition of Highline Media and Pfingsten Publishing in November 2006. Together, these units publish the insurance titles National Underwriter Property/Casualty and Life/Health weeklies, Life Insurance Selling, Agent Sales Journal, American Agent & Broker, Claims, Tech Decisions, Insurance Advocate and Florida Underwriter, and the financial titles Mortgage Originator, Wealth Manager, Research and Futures. In July 2007, the Company acquired Wicks Business Information, and added Investment Advisor, Credit Union Times, Inside Counsel and Treasury & Risk magazines, thus expanding its footprint in the financial industry to the legal and accounting markets as part of its growth into the professional services marketplace. The Company also publishes the reference tools TaxFacts and Fire, Casualty and Surety Bulletins, and, through its Highline Data unit, financial and market information on insurers and company benefit plans. Summit also sponsors the international Investment Conferences on global mining investment, a dozen conference events affiliated with its magazine brands, and via its Executive Enterprises unit, more than 100 professional education seminars annually.
Summit is also one of the leading organizers of consumer art expositions and providers of business-to-business information to the art market. Additional information about Summit is available at www.summitbusinessmedia.com.
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