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2014 MarketShare Reportsfor the Top 125 Life andFraternal Insurance Groupsand Companies by State ARKETSHARE

2014 Market Share Reportsfor the Top 125 Life and Fraternal InsuranceGroups and Companies By Stateand Countrywide2015

The NAIC is the authoritative source for insurance industry information. Our expert solutions support the effortsof regulators, insurers and researchers by providing detailed and comprehensive insurance information. TheNAIC offers a wide range of publications in the following categories:Accounting & ReportingInformation about statutory accounting principles and theprocedures necessary for filing financial annual statementsand conducting risk-based capital calculations.Special StudiesStudies, reports, handbooks and regulatory researchconducted by NAIC members on a variety of insurancerelated topics.Consumer InformationImportant answers to common questions about auto,home, health and life insurance — as well as buyer’sguides on annuities, long-term care insurance andMedicare supplement plans.Statistical ReportsValuable and in-demand insurance industry-wide statisticaldata for various lines of business, including auto, home,health and life insurance.Financial RegulationUseful handbooks, compliance guides and reports onfinancial analysis, company licensing, state auditrequirements and receiverships.LegalComprehensive collection of NAIC model laws, regulationsand guidelines; state laws on insurance topics; and otherregulatory guidance on antifraud and consumer privacy.Market RegulationRegulatory and industry guidance on market-relatedissues, including antifraud, product filing requirements,producer licensing and market analysis.Supplementary ProductsGuidance manuals, handbooks, surveys and researchon a wide variety of issues.Capital Markets & Investment AnalysisInformation regarding portfolio values and procedures forcomplying with NAIC reporting requirements.White PapersRelevant studies, guidance and NAIC policy positions ona variety of insurance topics.For more information about NAICpublications, view our online catalog at:NAIC ActivitiesNAIC member directories, in-depth reporting of stateregulatory activities and official historical records ofNAIC national meetings and other activities.http://store.naic.org 2015 National Association of Insurance Commissioners. All rights reserved.ISBN: Printed in the United States of AmericaNo part of this book may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic ormechanical, including photocopying, recording, or any storage or retrieval system, without written permission from the NAIC.NAIC Executive Office444 North Capitol Street, NWSuite 700Washington, DC 20001202.471.3990NAIC Central Office1100 Walnut StreetSuite 1500Kansas City, MO 64106816.842.3600NAIC Capital Markets& Investment Analysis OfficeOne New York Plaza, Suite 4210New York, NY 10004212.398.9000

2014 Market Share Reports for the Top 125Life and Fraternal Insurance Groups and Companiesby State and CountrywideTABLE OF CONTENTSIntroduction .1Life Market Share Report Applications .3Life Insurance .5Annuity Considerations .127Totals for Life Insurance, Annuity Considerations, .245Deposit-Type Contract Funds, Other Considerations, and Accident andHealth InsuranceSupplemental Information .369Technical Notes .377Index of Insurer Groups and Companies .383

INTRODUCTIONThese 2014 Market Share Reports for the Top 125 Life and Fraternal Insurance Groups and Companiesby State and Countrywide are intended to make market share information more readily available. Datafrom groups and companies filing the life/health annual statement and those filing the fraternal annualstatement are combined so that the life insurance market can be seen in its entirety. The column labeled“Business Type” indicates whether the group (company) listed has filed a life/health annual statement (L),a fraternal annual statement (F) or both (B). The direct premiums data reported in this publication is takenfrom page 24 of the NAIC life/health annual statement and page 23 of the NAIC fraternal annualstatement.Insurance groups are made up of insurance companies that are related by ownership. The market sharereports show data by group for those insurers that are members of a group. This allows the report to moreaccurately reflect the number of distinct entities that are competing against one another for business in themarket. An index listing the individual insurers within a group is included at the end of the report.Insurers merge, change names, and buy and sell companies; however, the index gives a “snapshot” viewof group structures as filed with the NAIC on, May 21, 2015, the date this report was generated.Market share data are reported in three sections: 1) life insurance; 2) annuity considerations; and 3) totalsof life insurance, annuity considerations, deposit-type contract funds, other considerations, and accidentand health insurance. In each of the three sections, the cumulative market share is shown for the top 125writers by state and countrywide. The cumulative market share is one indicator of the degree of marketconcentration in a line of business. Also included in each of these three sections is a 10-year premiumcomparison chart. A Supplemental Information section is also included to provide additional detail onindividual and group premium by product. The Supplemental Information section also includes a fiveyear overview of renewal, first year, and single premium contributions to total earned premium.Accident and health insurance data are reported to the NAIC on four annual statements: property/casualty(P/C), life/health, fraternal, and health. The accident and health data in this report are from the life/healthand fraternal annual statements only. A separate publication, Market Share Reports for the Top 125Accident and Health Insurance Groups and Companies by State and Countrywide, combines data from allfour statements to provide complete market share information for that line.Please send any questions regarding this report to [email protected] Links to this report andother NAIC reports can be found on the NAIC website at: NAIC Publications. 2015 National Association of Insurance Commissioners1

2015 National Association of Insurance Commissioners2

LIFE MARKET SHARE REPORT APPLICATIONSThe Life and Fraternal Market Share Report will help a user: Assess an insurer’s competitive position Create benchmarks to compare companies Identify the top writers Analyze the overall size of the market Indentify premium volume trends Evaluate market penetration potential Evaluate post-merger market implicationsThe Life and Fraternal Market Share Report provides fundamental market information that can be used byregulators, insurers and others interested in analyzing the insurance industry. This report gives users anunderstanding of the overall size of the market by providing data at a state and national level. Included inthis report are several charts and graphs that illustrate premium growth over the past 10 years. Thesecharts can be used to identify nationwide premium volume trends. This is pertinent information foranyone attempting to evaluate an insurer’s market penetration or growth potential.The Life and Fraternal Market Share Report serves as an important tool for insurance regulators and canhelp them identify the top Life and Annuity writers in their jurisdiction. Knowing this allows them toquickly and effectively target insurance department resources. This is important when responding tomarket or financial conditions in their state. Many states have antitrust laws that prevent insurers frommerging or combining with other insurers if the post-merger impact stifles competition within the state.Insurance regulators can assess any proposed merger transaction by evaluating the combined market sharepercentage of the participating insurers.The data contained in this report can be used for financial or market analysis. Significant changes in aninsurer’s market share ranking can be an indication of competitiveness, financial or market health, orstructural changes. For instance, steady market share growth allows an insurer to gain greater economiesof scale and retain more in its bottom line. However, rapid market share increases can indicate that aninsurer is growing too fast and should be examined for solvency stability and rate inadequacy. Rapidmarket share increases could also be the result of a merger. In contrast, rapid market decreases couldindicate that the insurer is reducing its exposure, has ceased writing due to financial difficulty or isencountering market conduct issues.Utilizing this report allows insurers to identify their competitors and comparative market share. Thisallows insurers to easily assess their competitive position and assist in establishing strategic objectives,such as premium growth goals or benchmark targets. 2015 National Association of Insurance Commissioners3

2015 National Association of Insurance Commissioners4

Life InsuranceAs Reported on Life and FraternalAnnual Statements 2015 National Association of Insurance Commissioners5

2015 National Association of Insurance Commissioners6

NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS2014 Life and Fraternal Insurance IndustryLife InsuranceYearStates, and U.S.TerritoriesAggregate OtherAlien and CanadaTotal States, USTerritories, AggregateOther Alien ,241,0206,097,483,241153,034,724,261 2015 National Association of Insurance Commissioners7

2015 National Association of Insurance Commissioners8

Life Insurance IndustryLife/Health and Fraternal Insurers2014 Market Share Report - Total PremiumLife InsuranceStates, U.S. Territories, Canada, Aggregate Other 98554731389150215Group/Company NameMETROPOLITAN GRPNORTHWESTERN MUT GRPNEW YORK LIFE GRPPRUDENTIAL OF AMER GRPLINCOLN NATL GRPMASS MUT LIFE INS GRPJOHN HANCOCK GRPAEGON US HOLDING GRPSTATE FARM GRPAFLAC GRPGUARDIAN LIFE GRPAMERICAN INTL GRPMINNESOTA MUT GRPPACIFIC LIFE GRPAXA INS GRPSAMMONS ENTERPRISES GRPING AMER INS HOLDING GRPHARTFORD FIRE & CAS GRPPROTECTIVE LIFE INS GRPNATIONWIDE CORP GRPPRIMERICA GRPGENWORTH FIN GRPLIBERTY NATL GRPCIGNA HLTH GRPUNUMPROVIDENT CORP GRPPRINCIPAL FIN GRPMUTUAL OF OMAHA GRPGREAT WEST GRPRESOLUTION LIFE GRPTHRIVENT FINANCIAL FOR LUTHERANS GRPZURICH INS GRPAETNA GRPAMERIPRISE FIN GRPSUN LIFE ASSUR CO OF CN GRPBANNER LIFE GRPPENN MUT GRPJACKSON NATL GRPATHENE GRPASSURANT INC GRPWEST SOUTHERN GRPLIBERTY MUT GRPOHIO NATL LIFE GRPUNITED SERV AUTOMOBILE ASSN GRPKNIGHTS OF COLUMBUSNATIONAL LIFE GRPSTANCORP FIN GRPTIAA FAMILY GRPCNO FINANCIAL GRPPHOENIX COS GRPALLSTATE INS GRPCUNA MUT GRPAMERICAN NATL FIN GRPSOUTHERN FARM BUREAU LIFE INS COONEAMERICA FIN PARTNERS GRPAMERITAS MUT HOLDING GRPALLIANZ INS GRPWILTON RE GRPNATIONAL GUARDIAN LIFE INS GRPTOKIO MARINE HOLDINGS INC GRPAUTOMOBILE CLUB MI GRPHARBINGER GRPGOLDMAN SACHS GRPCOUNTRY INS & FIN SERV GRPKEMPER CORP GRPDirect ,869,193413,334,029412,238,878394,731,051 2015 National Association of Insurance %89.31%89.63%89.93%90.23%90.51%90.78%91.05%91.31%

Life Insurance IndustryLife/Health and Fraternal Insurers2014 Market Share Report - Total PremiumLife InsuranceStates, U.S. Territories, Canada, Aggregate Other 495134763819Group/Company NameHOMESTEADERS LIFE COAMERICAN FAMILY INS GRPINDEPENDENT ORDER OF FORESTERS US BRLINCOLN HERITAGE LIFE INS COSAVINGS BANK LIFE GRPNESTLE SA GRPIOWA FARM BUREAU GRPHCSC GRPANTHEM INC GRPWOODMEN WORLD LIFE INS SOCNATIONAL WESTERN LIFE INS COSECURITY MUT LIFE INS CO OF NYFINANCIAL HOLDINGS GRPMODERN WOODMEN OF AMERCOLUMBIAN LIFE GRPCINCINNATI FIN GRPWHITE MOUNTAINS GRPDELAWARE LIFE HOLDING GRPKANSAS CITY LIFE INS GRPMTL INS COPHYSICIANS MUT GRPCITIZENS GRPBOSTON MUT GRPTRUSTMARK INS CO GRPUNITEDHEALTH GRPGREAT WESTERN CO GRPINDIANA FARM BUREAU GRPINDUSTRIAL ALLIANCE GRPERIE INS GRPALFA INS GRPAMERICAN FIDELITY CORP GRPFIDELITY LIFE ASSN A LEGAL RESERVE LTENNESSEE FARMERS GRP5 STAR LIFE INS COTIPTREE FIN GRPFEDERATED MUT GRPASSURITY LIFE INS COARKANSAS BCBS GRPPEKIN INS GRPBALTIMORE LIFE INS COSHELTER INS GRPAUTO OWNERS GRPHORACE MANN GRPACE LTD GRPPAN AMER LIFE GRPTRIPLE S GRPHUMANA GRPCITIGROUP GRPGRANGE MUT CAS GRPAMICA MUT GRPAMERICAN FINANCIAL GRPOZARK NATL LIFE INS COMICHIGAN FARM BUREAU GRPFORTRESS GRPCENTRAL STATES GRPENSTAR GRPDIRECTORS INVESTMENT GRPBENEFICIAL LIFE GRPFIRST INVESTORS LIFE INS COSBLI USA GRPUNITY FINANCIAL LIFE INS CO**TOTAL**Direct 146,02361,886,672153,034,724,261 2015 National Association of Insurance %98.22%98.26%98.31%98.35%100.00%

Life Insurance IndustryLife/Health and Fraternal Insurers2014 Market Share Report - Total PremiumLife InsuranceStates and U.S. 3309855473138915021564505Group/Company NameMETROPOLITAN GRPNORTHWESTERN MUT GRPNEW YORK LIFE GRPPRUDENTIAL OF AMER GRPLINCOLN NATL GRPMASS MUT LIFE INS GRPJOHN HANCOCK GRPAEGON US HOLDING GRPSTATE FARM GRPGUARDIAN LIFE GRPMINNESOTA MUT GRPAMERICAN INTL GRPPACIFIC LIFE GRPAXA INS GRPSAMMONS ENTERPRISES GRPING AMER INS HOLDING GRPHARTFORD FIRE & CAS GRPPROTECTIVE LIFE INS GRPNATIONWIDE CORP GRPPRIMERICA GRPGENWORTH FIN GRPCIGNA HLTH GRPUNUMPROVIDENT CORP GRPLIBERTY NATL GRPPRINCIPAL FIN GRPMUTUAL OF OMAHA GRPGREAT WEST GRPRESOLUTION LIFE GRPTHRIVENT FINANCIAL FOR LUTHERANS GRPZURICH INS GRPAMERIPRISE FIN GRPAETNA GRPSUN LIFE ASSUR CO OF CN GRPBANNER LIFE GRPPENN MUT GRPATHENE GRPJACKSON NATL GRPWEST SOUTHERN GRPLIBERTY MUT GRPOHIO NATL LIFE GRPUNITED SERV AUTOMOBILE ASSN GRPNATIONAL LIFE GRPASSURANT INC GRPSTANCORP FIN GRPTIAA FAMILY GRPCNO FINANCIAL GRPKNIGHTS OF COLUMBUSPHOENIX COS GRPALLSTATE INS GRPCUNA MUT GRPAMERICAN NATL FIN GRPSOUTHERN FARM BUREAU LIFE INS COONEAMERICA FIN PARTNERS GRPAMERITAS MUT HOLDING GRPALLIANZ INS GRPNATIONAL GUARDIAN LIFE INS GRPWILTON RE GRPTOKIO MARINE HOLDINGS INC GRPAUTOMOBILE CLUB MI GRPHARBINGER GRPGOLDMAN SACHS GRPCOUNTRY INS & FIN SERV GRPKEMPER CORP GRPHOMESTEADERS LIFE CODirect 86,061412,151,448394,730,691387,942,906 2015 National Association of Insurance 2%89.34%89.66%89.97%90.27%90.55%90.83%91.10%91.36%

Life Insurance IndustryLife/Health and Fraternal Insurers2014 Market Share Report - Total PremiumLife InsuranceStates and U.S. 76381947642644725Group/Company NameAMERICAN FAMILY INS GRPINDEPENDENT ORDER OF FORESTERS US BRLINCOLN HERITAGE LIFE INS COSAVINGS BANK LIFE GRPNESTLE SA GRPIOWA FARM BUREAU GRPHCSC GRPANTHEM INC GRPWOODMEN WORLD LIFE INS SOCSECURITY MUT LIFE INS CO OF NYMODERN WOODMEN OF AMERFINANCIAL HOLDINGS GRPCOLUMBIAN LIFE GRPAFLAC GRPCINCINNATI FIN GRPWHITE MOUNTAINS GRPDELAWARE LIFE HOLDING GRPKANSAS CITY LIFE INS GRPMTL INS COPHYSICIANS MUT GRPBOSTON MUT GRPTRUSTMARK INS CO GRPUNITEDHEALTH GRPGREAT WESTERN CO GRPINDIANA FARM BUREAU GRPINDUSTRIAL ALLIANCE GRPERIE INS GRPALFA INS GRPFIDELITY LIFE ASSN A LEGAL RESERVE LNATIONAL WESTERN LIFE INS COTENNESSEE FARMERS GRPTIPTREE FIN GRP5 STAR LIFE INS COAMERICAN FIDELITY CORP GRPFEDERATED MUT GRPASSURITY LIFE INS COARKANSAS BCBS GRPPEKIN INS GRPBALTIMORE LIFE INS COSHELTER INS GRPAUTO OWNERS GRPHORACE MANN GRPTRIPLE S GRPHUMANA GRPACE LTD GRPGRANGE MUT CAS GRPAMICA MUT GRPAMERICAN FINANCIAL GRPOZARK NATL LIFE INS COMICHIGAN FARM BUREAU GRPFORTRESS GRPCENTRAL STATES GRPCITIGROUP GRPDIRECTORS INVESTMENT GRPBENEFICIAL LIFE GRPFIRST INVESTORS LIFE INS COSBLI USA GRPUNITY FINANCIAL LIFE INS CORESERVOIR CAPITAL GRPHEALTHMARKETS GRPENSTAR GRP**TOTAL**Direct 08,63456,766,734146,937,241,020 2015 National Association of Insurance %98.21%98.26%98.29%98.33%100.00%

Life Insurance IndustryLife/Health and Fraternal Insurers2014 Market Share Report - Total PremiumLife 3347344083891872876448383691777879Group/Company NameNEW YORK LIFE GRPNORTHWESTERN MUT GRPMETROPOLITAN GRPLIBERTY NATL GRPALFA INS GRPMASS MUT LIFE INS GRPSTATE FARM GRPPROTECTIVE LIFE INS GRPPRUDENTIAL OF AMER GRPLINCOLN NATL GRPAMERICAN INTL GRPAEGON US HOLDING GRPJOHN HANCOCK GRPUNUMPROVIDENT CORP GRPAXA INS GRPKEMPER CORP GRPPRIMERICA GRPGUARDIAN LIFE GRPMUTUAL OF OMAHA GRPHARTFORD FIRE & CAS GRPGREAT WEST GRPING AMER INS HOLDING GRPSAMMONS ENTERPRISES GRPWOODMEN WORLD LIFE INS SOCGENWORTH FIN GRPMINNESOTA MUT GRPPRINCIPAL FIN GRPRESOLUTION LIFE GRPPACIFIC LIFE GRPASSURANT INC GRPCIGNA HLTH GRPOHIO NATL LIFE GRPLIBERTY MUT GRPUNITED SERV AUTOMOBILE ASSN GRPJACKSON NATL GRPCUNA MUT GRPNATIONWIDE CORP GRPTIAA FAMILY GRPMODERN WOODMEN OF AMERSTANCORP FIN GRPSUN LIFE ASSUR CO OF CN GRPONEAMERICA FIN PARTNERS GRPZURICH INS GRPAMERITAS MUT HOLDING GRPALLSTATE INS GRPCOUNTRY INS & FIN SERV GRPAMERIPRISE FIN GRPLINCOLN HERITAGE LIFE INS COINDEPENDENT ORDER OF FORESTERS US BRTOKIO MARINE HOLDINGS INC GRPWHITE MOUNTAINS GRPAFLAC GRPNATIONAL LIFE GRPWILTON RE GRPCNO FINANCIAL GRPATHENE GRPAMERICAN NATL FIN GRPGOLDMAN SACHS GRPBANNER LIFE GRPARKANSAS BCBS GRPNESTLE SA GRPWEST SOUTHERN GRPHCSC GRP5 STAR LIFE INS CODirect 76,727,4296,628,2706,054,6556,011,7935,875,760 2015 National Association of Insurance 8%91.59%91.90%92.19%92.48%92.77%93.03%93.28%93.54%

Life Insurance IndustryLife/Health and Fraternal Insurers2014 Market Share Report - Total PremiumLife 53545124852580020786624544553953Group/Company NameINDUSTRIAL ALLIANCE GRPPHYSICIANS MUT GRPPHOENIX COS GRPHARBINGER GRPNATIONAL GUARDIAN LIFE INS GRPATLANTIC COAST LIFE INS COCINCINNATI FIN GRPTHRIVENT FINANCIAL FOR LUTHERANS GRPKNIGHTS OF COLUMBUSKANSAS CITY LIFE INS GRPAETNA GRPAUTO OWNERS GRPGREAT WESTERN CO GRPPENN MUT GRPALLIANZ INS GRPHEALTHMARKETS GRPNORTH CAROLINA MUT LIFE INS COFIDELITY LIFE ASSN A LEGAL RESERVE LAUTOMOBILE CLUB MI GRPFEDERATED MUT GRPAMERICAN FIDELITY CORP GRPCITIGROUP GRPLIFE INS CO OF ALNATIONAL SECURITY GRPFINANCIAL HOLDINGS GRPHOMESTEADERS LIFE COBOSTON MUT GRPOZARK NATL LIFE INS CONATIONAL WESTERN LIFE INS COSOUTHERN FARM BUREAU LIFE INS COFORTRESS GRPTRUSTMARK INS CO GRPINDIANA FARM BUREAU GRPHORACE MANN GRPTIPTREE FIN GRPRESERVOIR CAPITAL GRPSTATE MUT INS COGPM LIFE GRPAMERICAN EQUITY INVESTMENT GRPGENEVE HOLDINGS INC GRPASSURITY LIFE INS COUNITY FINANCIAL LIFE INS COUNITEDHEALTH GRPHUMANA GRPSAGICOR LIFE INS COPLATEAU GRPHERITAGE GUAR GRPAMERICAN FINANCIAL GRPMTL INS COEMC NATL LIFE COENSTAR GRPBALTIMORE LIFE INS COCOLUMBIAN LIFE GRPFIDELITY SECURITY GRPUNITED FIRE & CAS GRPPAN AMER LIFE GRPMOUNTAIN LIFE INS COSENIOR LIFE INS COSECURITY NATL GRPSAVINGS BANK LIFE GRPUNIVERSAL AMER FIN CORP GRP**TOTAL**Direct 6646,881617,730596,968586,3682,333,642,604 2015 National Association of Insurance %0.03%0

producer licensing and market analysis. NAIC Activities NAIC member directories, in-depth reporting of state . however, the index gives a “snapshot” view of group structures as filed with the NAIC on, May 21, 2015, the date this report was generated. . A separate publication, Marke