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Life/Health °µÍø½ûÇø Industry Income Statement, 2012-2016

($ billions, end of year)

  2012 2013 2014 2015 2016 Percent change, 2015-2016 (1)
Revenue            
     Life insurance premiums $130.5 $126.0 $133.9 $151.4 $115.0 -24.0%
     Annuity premiums and deposits 339.9 279.4 352.8 324.0 318.5 -1.7
     Accident and health premiums 151.4 153.3 156.6 158.8 162.9 2.5
     Credit life and credit accident and health premiums 1.6 1.4 1.4 1.4 1.3 -8.6
     Other premiums and considerations 2.2 2.3 2.6 2.5 2.2 -12.2
     Total premiums, consideration and deposits $625.6 $562.6 $647.3 $638.2 $599.9 -6.0%
     Net investment income 166.5 167.1 171.7 170.8 173.0 1.3
     Reinsurance allowance -30.8 -21.2 -15.0 -86.4 -17.0 NA
     Separate accounts revenue 29.5 31.4 34.3 35.2 34.7 -1.5
     Other income 41.6 42.8 39.7 90.5 61.3 -32.2
     Total revenue $832.5 $782.7 $878.0 $848.2 $851.9 0.4%
Expense            
     Benefits 241.8 250.6 251.8 263.9 271.4 2.8
     Surrenders 245.7 248.7 281.5 273.0 265.1 -2.9
     Increase in reserves 83.8 86.2 108.7 80.5 133.1 65.3
     Transfers to separate accounts 61.6 -0.8 -16.5 36.9 -38.0 -203.0
     Commissions 52.6 53.0 52.1 55.5 64.6 16.3
     General and administrative expenses 57.2 58.5 59.0 60.1 62.4 3.8
     °µÍø½ûÇø taxes, licenses and fees 8.0 8.2 10.0 10.5 10.8 3.3
     Other expenses 7.1 -0.2 66.0 -4.9 -2.7 NA
     Total expenses $757.8 $704.3 $812.5 $775.5 $766.6 -1.1%
Net income            
Policyholder dividends 15.2 15.7 16.4 18.3 18.2 -0.2
Net gain from operations before federal income tax 59.6 62.9 49.0 54.4 67.1 23.3
Federal income tax 9.9 8.6 10.1 10.6 16.3 54.1
Net income before capital gains $49.7 $54.3 $38.9 $43.8 $50.8 15.9%
Net realized capital gains (losses) -9.4 -12.0 -1.3 -3.5 -11.4 NA
Net income $40.3 $42.3 $37.6 $40.3 $39.4 -2.2%
Pre-tax operating income 59.6 62.9 49.0 54.4 67.1 23.3
(1) Calculated from unrounded data. NA=Not applicable. Source: NAIC data, sourced from S&P Global Market Intelligence, °µÍø½ûÇø Information Institute.