Life Insurance & Pension in the United States
Summary
Life Insurance & Pension in the United States industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance & pension is the financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is loss of income to the household.
- The US life insurance & pension market recorded gross written premiums of $714.9 billion in 2023, representing a compound annual growth rate (CAGR) of 3.3% between 2018 and 2023.
- The pension/annuity segment accounted for the market's largest proportion in 2023, with total gross written premiums of $519.1 billion, equivalent to 72.6% of the market's overall value.
- In 2023, the US held 88.8% of the market share in the North American life insurance & pension market. The US life insurance & pension market held 88.8% of the market share in the North American region in 2023.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in the United States
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in the United States
- Leading company profiles reveal details of key life insurance & pension 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 & pension market with five year forecasts
- What was the size of the United States life insurance & pension market by value in 2023?
- What will be the size of the United States life insurance & pension market in 2028?
- What factors are affecting the strength of competition in the United States life insurance & pension market?
- How has the market performed over the last five years?
- Who are the top competitors in the United States's life insurance & pension market?
- 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 are the strategies of the leading players?
- 7.4. What are the strengths of the leading players?
- 8 Company Profiles
- 8.1. The Northwestern Mutual Life Insurance Co
- 8.2. New York Life Insurance Co
- 8.3. Prudential Financial Inc
- 8.4. Metropolitan Insurance Group Inc
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: United States life insurance & pension market value: $ billion, 2018-23
- Table 2: United States life insurance & pension market category segmentation: % share, by value, 2018-23
- Table 3: United States life insurance & pension market category segmentation: $ billion, 2018-23
- Table 4: United States life insurance & pension market geography segmentation: $ billion, 2023
- Table 5: United States life insurance & pension market value forecast: $ billion, 2023-28
- Table 6: United States life insurance & pension market share: % share, by value, 2023
- Table 7: The Northwestern Mutual Life Insurance Co: Key Facts
- Table 8: The Northwestern Mutual Life Insurance Co: Key Employees
- Table 9: New York Life Insurance Co: Key Facts
- Table 10: New York Life Insurance Co: Key Employees
- Table 11: New York Life Insurance Co: Key Employees Continued
- Table 12: Prudential Financial Inc: Key Facts
- Table 13: Prudential Financial Inc: Annual Financial Ratios
- Table 14: Prudential Financial Inc: Key Employees
- Table 15: Metropolitan Insurance Group Inc: Key Facts
- Table 16: United States Size of Population (million), 2019-23
- Table 17: United States Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 18: United States GDP (Current Prices, $ Billion), 2019-23
- Table 19: United States Inflation, 2019-23
- Table 20: United States Consumer Price Index (Absolute), 2019-23
- Table 21: United States Exchange Rate, 2018-23
- List of Figures
- Figure 1: United States life insurance & pension market value: $ billion, 2018-23
- Figure 2: United States life insurance & pension market category segmentation: $ billion, 2018-23
- Figure 3: United States life insurance & pension market geography segmentation: % share, by value, 2023
- Figure 4: United States life insurance & pension market value forecast: $ billion, 2023-28
- Figure 5: Forces driving competition in the life insurance & pension market in the United States, 2023
- Figure 6: Drivers of buyer power in the life insurance & pension market in the United States, 2023
- Figure 7: Drivers of supplier power in the life insurance & pension market in the United States, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in the United States, 2023
- Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in the United States, 2023
- Figure 10: Drivers of degree of rivalry in the life insurance & pension market in the United States, 2023
- Figure 11: United States life insurance & pension market share: % share, by value, 2023
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