US Life/Health Industry Net Return on Invested Assets Rises to 4.16%

BEST RANKING

Best News & Research Service – August 9, 2024 10:48 AM (EDT)

OLDWICK, NJ //BestWire// – The US life/health industry’s net return on invested assets rose to 4.24% in 2023 from 3.99% the previous year, according to a 2024 Best’s Rankings report on distribution assets.

In total, the industry had $8.74 trillion in invested assets, with the top 25 accounting for $6.38 trillion of that total by 2023, according to the report.

Prudential of America Group held the top spot with $531.49 billion in invested assets. The company posted a net return of 3.84% in 2023, up from 3.40% the previous year. It has maintained a net return of 3.4% since 2020, the data shows.

New York Life Group moved into second place from third place, with $423.40 billion in invested assets and a net return of 4.21 percent, up from 3.80 percent a year earlier. MetLife Insurance Cos. dropped from second to third despite an increase in its net yield to 4.90% from 4.10%. It had $414.62 billion in invested assets.

Massachusetts Mutual Life Group moved up to fourth from fifth, trading places with TIAA Group. Massachusetts Mutual posted $381.19 billion in invested assets and saw its net yield climb to 4.31% from 3.69%.

The rest of the top 10 companies maintained their ranking compared to the previous year.

The report ranked the top 100 US life/health insurers by total admitted assets. It included net return on invested assets and asset data for stocks, mortgages, real estate, contract loans, cash and short-term investments, separate accounts and other assets for each of these insurers, along with industry totals.

Subscribers can access the report and data here.

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AM Best data comes from Best’s Financial Suite, USA.

(By Anthony Bellano, Associate Editor, Best’s Review: [email protected])