by John Darer CLU ChFC MSSC RSP CLTC
The insurance companies that issue structured settlement annuities (or have issued them in the past) are among the largest insurance companies in the United States.
Consider the following statistics published in A.M. Best publication Understanding The Insurance Industry 2016 Edition
Structured Settlement Annuity Issuers in Top 10 (2015 Admitted Assets)
Metropolitan Life Insurance Company $390,842, 696,000 1
Prudential Insurance Company of America $244,995,697,000 3
John Hancock Life Insurance Company USA $227,843,142,000 5
Massachusetts Mutual Life $210,358,711,000 7
American General Life Insurance Company $166,711,283,000 10
[ Note: just missing the top 10 is Pacific Life with $137B in assets; highlight signifies former structured settlement annuity issuers
Structured Settlement Annuity Issuers in Top 10 (2015 Capital & Surplus)
- New York Life Insurance Company 4
- Massachusetts Mutual Life 5
- Metropolitan Life Insurance Company 6
- Prudential Insurance Company of America 7
Three structured settlement annuity issuers are part of companies that A.M. Best ranked in the US Property /Casualty Group
- Berkshire Hathaway Group
1 in both 2015 Admitted Assets and Capital and Surplus
(includes the reinsurer National Indemnity Company, structured settlement annuity issuer Berkshire Hathaway Life Insurance Company of Nebraska, New York structured settlement annuity issuer First Berkshire Hathaway Life Insurance Company and Columbia Insurance Company, the guarantor of BHG Structured Settlements, Inc., qualified assignment company for the Berkshire Hathaway structured settlement program. Berkshire Hathaway is also listed as the 6th largest reinsurer for 2016.)
- Liberty Mutual Group
5 in both 2015 Admitted Assets and Capital and Surplus
(includes structured settlement annuity issuer Liberty Life Assurance Company whose performance is guaranteed by Liberty Mutual Insurance Company
- USAA Group
10 in Admitted Assets; 4 in Capital and Surplus
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