Industry Analysis & Industry Trends
Consistent increases in premiums derived from the Life Insurance and Annuities industry's traditional products and strong returns from equity markets have aided industry performance over the five years to 2017. Historically low interest rates have subdued the industry's investment gains in recent years. Since 2013, bond yields have sharply increased which bolsters the fair values of the industry's existing fixed-income securities, this trend has been a key driver for strong growth throughout the year. Despite a small dip in concentration levels in recent years, the industry is anticipated to remain dominated by the “big three" companies over the five years to 2022... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Life Insurance and Annuities industry operates with a moderate to high level of market share concentration. In 2017, the top three companies are estimated to account for 42.2% of the market, up from 38.7% in 2012. Regardless of this dip in concentration in recent years, the industry continues to be dominated by three large players, commonly referred to as the “big three.” Great-West Lifeco, Manulife Financial and Sun Life Financial are each expected to represent about 10.0% of the domestic life insurance and annuities market in 2017.
In recent years, these companies have been particularly damaged by accounting changes, historically low bond yields and demographic changes. Yet.. purchase to read more