Individual Life-Annuity State Environment Annual
Conning—Individual Life and Annuity State Environment Changing Disparately
--Conning ranks state growth performance for life and annuity sales
(Hartford, CT) October 31, 2013—The recession and economic recovery have changed the outlook for life and annuity insurers at the state level, and it is time for insurers to reassess their geographic footprints, according to a new study by Conning.
“In this period of uneven economic recovery, understanding the outlook for life insurance and annuity markets at the state level is critical for insurers’ planning purposes,” said Terence Martin, analyst at Conning. “States were affected very differently by the recession and are experiencing significantly disparate rates of recovery. We have developed an analytical framework to allow insurers to benchmark state performance more readily, looking closely at historical growth, market concentration, demographic and economic data, among other variables.”
The Conning study, “Individual Life-Annuity State Environment Annual” analyzes and presents data for each state for the period 2008-2012, including historical growth, market concentration, demographic and economic data, and distribution dynamics.
“We review both state premium development over time and demographic and economic data in order to build our rankings of state growth performance by product,” said Steve Webersen, director of research at Conning. “Interestingly, in our rankings a given state may have widely different performance for life insurance sales versus annuity sales. Once insurers assess the new state landscape post-recession, they can better position themselves for future growth.”
“Individual Life-Annuity State Environment Annual” is available for purchase from Conning by calling (888) 707-1177 or by visiting the company’s web site at www.conningresearch.com.
Conning (www.conning.com) is a leading investment management company for the global insurance industry, with almost $83 billion in assets under management as of September 30, 2013 through Conning, Inc., Conning Asset Management Limited, Cathay Conning Asset Management Limited, and Goodwin Capital Advisers, Inc. The company's unique combination of asset management, risk and capital management solutions and insurance research helps clients achieve their financial goals through customized business and investment strategies. Founded in 1912, Conning is focused on the future, providing clients with innovative solutions, leveraging its global capabilities, investment experience, and proprietary research. The company is headquartered in Hartford, Connecticut, with additional offices in Purchase, London, Cologne, and Hong Kong.