Mutual Life Company Asset Growth Outpaces Industry BestWeek (07/07/03) p.12; Dale, Arden
According to A.M. Best, mutual life insurers' and mutual holding companies' total assets rose 37 percent between the end of 1997 and the end of 2002, compared to a 30 percent rate for the life/health industry. The mutual company sector will continue to change through demutualization or alterations to corporate structure. Mutual companies make up 16 percent of the industry's assets, a drop from 26 percent in 2000. Variable insurance and annuity product sales were hurt by weak equity market performance, with consumers becoming more interested in guaranteed products. Separate-account assets comprised 28 percent of the life industry's total assets at the end of last year, and 20 percent of mutual life insurers' total assets.