Life Insurance in the United States of America (USA) - Market Summary, Competitive Analysis and Forecast to 2025

Life Insurance in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
The US life insurance market had total gross written premiums of $632.7bn in 2020, representing a compound annual growth rate (CAGR) of 3.2% between 2016 and 2020.
The Pension/Annuity segment was the market's most lucrative in 2020, with total gross written premiums of $376.4bn, equivalent to 59.5% of the market's overall value.
The COVID-19 pandemic, which first took hold in the US in early 2020, has had a dramatic impact on the life insurance market, with cuts to interest rates affecting life insurance companies’ profits.

Scope

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in the United States
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in the United States
Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the United States life insurance market with five year forecasts by both value and volume

Reasons to Buy

What was the size of the United States life insurance market by value in 2020?
What will be the size of the United States life insurance market in 2025?
What factors are affecting the strength of competition in the United States life insurance market?
How has the market performed over the last five years?
What are the main segments that make up the United State's life insurance market?

Frequently Asked Questions about the U.S. of America (USA) Life Insurance Market

What is the estimated value of the U.S. of America (USA) Life Insurance Market?

The U.S. of America (USA) Life Insurance Market was estimated to be valued at $632.69 Billion in 2020.

What is the growth rate of the U.S. of America (USA) Life Insurance Market?

The growth rate of the U.S. of America (USA) Life Insurance Market is 2.9%, with an estimated value of $731.96 Billion by 2025.

What is the forecasted size of the U.S. of America (USA) Life Insurance Market?

The U.S. of America (USA) Life Insurance Market is estimated to be worth $731.96 Billion by 2025.

Who are the key companies in the U.S. of America (USA) Life Insurance Market?

Key companies in the U.S. of America (USA) Life Insurance Market include New York Life Insurance Co, The Northwestern Mutual Life Insurance Co, MetLife Inc and Prudential Financial Inc.

Report Attribute	Details
No. of Pages	46
Published	October 2021
Forecast Period	2020 - 2025
Estimated Market Value ( USD ) in 2020	$ 632.69 Billion
Forecasted Market Value ( USD ) by 2025	$ 731.96 Billion
Compound Annual Growth Rate	2.9%
Regions Covered	United States

1 Executive Summary

1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape

2 Market Overview

2.1. Market definition
2.2. Market analysis

3 Market Data

3.1. Market value

4 Market Segmentation

4.1. Category segmentation
4.2. Geography segmentation

5 Market Outlook

5.1. Market value forecast

6 Five Forces Analysis

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 Competitive Landscape

7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What has been the rationale behind recent M&A activity?
7.5. How has the COVID-19 outbreak affected the market?

8 Company Profiles

8.1. New York Life Insurance Co
8.2. The Northwestern Mutual Life Insurance Co
8.3. MetLife Inc
8.4. Prudential Financial Inc

9 Macroeconomic Indicators

9.1. Country data

10 Appendix

10.1. Methodology
10.2. Industry associations
10.3. Related Research
10.4. About the Author

List of Tables

Table 1: United States life insurance market value: $ billion, 2016-20
Table 2: United States life insurance market category segmentation: $ billion, 2020
Table 3: United States life insurance market geography segmentation: $ billion, 2020
Table 4: United States life insurance market value forecast: $ billion, 2020-25
Table 5: United States life insurance market share: % share, by value, 2020
Table 6: New York Life Insurance Co: key facts
Table 7: New York Life Insurance Co: Key Employees
Table 8: New York Life Insurance Co: Key Employees Continued
Table 9: The Northwestern Mutual Life Insurance Co: key facts
Table 10: The Northwestern Mutual Life Insurance Co: Key Employees
Table 11: MetLife Inc: key facts
Table 12: MetLife Inc: Annual Financial Ratios
Table 13: MetLife Inc: Key Employees
Table 14: MetLife Inc: Key Employees Continued
Table 15: Prudential Financial Inc: key facts
Table 16: Prudential Financial Inc: Annual Financial Ratios
Table 17: Prudential Financial Inc: Key Employees
Table 18: Prudential Financial Inc: Key Employees Continued
Table 19: United States size of population (million), 2016-20
Table 20: United States gdp (constant 2005 prices, $ billion), 2016-20
Table 21: United States gdp (current prices, $ billion), 2016-20
Table 22: United States inflation, 2016-20
Table 23: United States consumer price index (absolute), 2016-20
Table 24: United States exchange rate, 2016-20

List of Figures

Figure 1: United States life insurance market value: $ billion, 2016-20
Figure 2: United States life insurance market category segmentation: % share, by value, 2020
Figure 3: United States life insurance market geography segmentation: % share, by value, 2020
Figure 4: United States life insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the life insurance market in the United States, 2020
Figure 6: Drivers of buyer power in the life insurance market in the United States, 2020
Figure 7: Drivers of supplier power in the life insurance market in the United States, 2020
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in the United States, 2020
Figure 9: Factors influencing the threat of substitutes in the life insurance market in the United States, 2020
Figure 10: Drivers of degree of rivalry in the life insurance market in the United States, 2020
Figure 11: United States life insurance market share: % share, by value, 2020