LIFE/HEALTH INSURANCE INDUSTRY INCOME STATEMENT, 2009-2013

($ billions, end of year)

  2009 2010 2011 2012 2013 Percent change, 2012-2013 (1)
Revenue            
Life insurance premiums $120.6 $100.3 $122.8 $130.5 $126.1 -3.4%
Annuity premiums and deposits 225.5 286.3 327.0 339.9 279.4 -17.8
Accident and health premiums 145.2 150.9 151.3 151.7 153.4 1.1
Credit life and credit accident and health premiums 1.6 1.6 1.6 1.6 1.4 -7.2
Other premiums and considerations 0.5 23.1 2.1 2.2 2.3 4.4
Total premiums, consideration and deposits $493.4 $562.2 $604.8 $626.0 $562.8 -10.1%
Net investment income 156.6 164.1 167.3 166.9 167.9 0.6
Reinsurance allowance 61.5 -29.3 -16.3 -30.8 -21.2 -31.0
Separate accounts revenue 20.4 23.4 26.1 29.5 31.4 6.5
Other income 44.9 52.9 53.1 60.3 43.1 -28.6
Total revenue $776.7 $773.3 $835.0 $851.9 $783.9 -8.0%
Expense            
Benefits 230.1 231.7 239.1 242.0 250.9 3.7
Surrenders 228.7 216.8 237.3 245.7 248.8 1.2
Increase in reserves 99.2 96.2 141.2 83.8 86.2 2.9
Transfers to separate accounts 11.1 29.3 32.4 61.6 -0.8 -101.3
Commissions 48.5 48.9 51.4 52.6 53.0 0.8
General and administrative expenses 52.1 54.7 56.5 57.3 58.5 2.2
Insurance taxes, licenses and fees 7.1 7.5 7.8 8.0 8.2 1.9
Other expenses 7.4 2.2 8.1 6.7 -0.4 -105.6
Total expenses $684.2 $687.3 $773.8 $757.7 $704.5 -7.0%
Net income            
Policyholder dividends 15.0 15.0 15.1 15.2 15.7 3.2
Net gain from operations before Federal income tax 61.0 53.1 28.0 60.5 63.7 5.4
Federal income tax 10.5 8.6 4.7 9.9 8.6 -13.2
Net income before capital gains $50.3 $44.1 $22.9 $50.3 $55.2 9.6%
Net realized capital gains (losses) -28.7 -16.0 -8.5 -9.4 -12.0 27.3
Net income $21.5 $28.0 $14.4 $40.9 $43.2 5.5%
Pre-tax operating income 61.0 53.1 28.0 60.5 63.7 5.4
(1) Calculated from unrounded data. Source: SNL Financial LC.