Insurance and finance industry watchers who follow the annual rankings of top life insurance and annuities providers from the National Association of Insurance Commissioners (NAIC) may find little surprise in the organization's latest numbers for 2016.
Once again, Metropolitan Group topped the NAIC's life insurer market share list, which ranks the top 25 carriers by direct premiums written in 2016.
Despite the fact that revenue for MetLife's direct premiums written in 2016 was up only slightly over the previous year, from roughly $3.8 billion in 2015 to roughly $3.9 billion in 2016, the New York City-based insurer continued to dominate cumulative market share, with 44.38% in 2016.
The remainder of the list's top 10 insurers are the same companies listed in 2015, but not every company experienced positive growth in the relevant benchmark categories.
Continue on to see how the NAIC determined each of the top 10 life insurers fared last year with regards to direct premiums written, market share percentages and cumulative market share percentages.
No. 10: Minnesota Mutual Group
2015 Ranking: 10
Direct Premiums Written, 2016: $3.9 billion
Direct Premiums Written, 2015: $3.8 billion
2016 Market Share: 2.4%
2015 Market Share: 2.4%
2016 Cumulative Market Share: 44.38%
2015 Cumulative Market Share: 44.69%
No. 9: State Farm Group
2015 Ranking: 9
Direct Premiums Written, 2016: $4.39 billion
Direct Premiums Written, 2015: $4.2 billion
2016 Market Share: 2.74%
2015 Market Share: 2.66%
2016 Cumulative Market Share: 41.94%
2015 Cumulative Market Share: 42.30%
No. 8: John Hancock Group
2015 Ranking: 7
Direct Premiums Written, 2016: $4.56 billion
Direct Premiums Written, 2015: $4.8 billion
2016 Market Share: 2.85%
2015 Market Share: 2.99%
2016 Cumulative Market Share: 39.20%
2015 Cumulative Market Share: 36.82%
No. 7: Aegon U.S. Holding Group
2015 Ranking: 8
Direct Premiums Written, 2016: $4.65 billion
Direct Premiums Written, 2015: $4.5 billion
2016 Market Share: 2.90%
2015 Market Share: 2.82%
2016 Cumulative Market Share: 36.35%
2015 Cumulative Market Share: 39.64%
No. 6: Massachusetts Mutual Life Insurance Group
2015 Ranking: 6
Direct Premiums Written, 2016: $.6.65 billion
Direct Premiums Written, 2015: $6.2 billion
2016 Market Share: 4.15%
2015 Market Share: 3.88%
2016 Cumulative Market Share: 33.46%
No. 5: Lincoln National Group
No. 4: Prudential of America Group
No. 2: Northwestern Mutual Group
No. 1: Metropolitan Group
