Best’s report: first-half 2022 net income in life/annuity sector up more than 60%

Best’s report: first-half 2022 net income in life/annuity sector up more than 60%

Net income for U.S. life/annuity insurance industry increased by 62% in the first half of 2021, rising to $20.9 billion from $12.9 billion in the same prior-year period, according to a new AM Best report. Total income in the L/A industry rose 3.2% to $478.8 billion from the prior-year period, driven by a 5.3% increase in net investment income and 161.9% rise in…