Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews

Structured Settlement Annuities Set to Beat $9B After Topping $2.5B in Q3 2024

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Structured settlement annuities continue to be a popular settlement planning option

As we enter the final quarter of 2024, the strength of structured settlement annuities as a settlement planning option could not be more evident. Year to date, Q3 2004 was the most prolific for structured settlement annuities. There were more than $2.552B in structured settlement annuities placed in Q3 2024, besting Q2 2024 by about $340M. 

4 Structured Settlement Annuity Issuers Will Exceed $1B for 2024 with One More Close

Highlights

1. MetLife has had consistent production levels throughout 2024 and sits at $2.164B through Q3 2024. MetlIfe includes Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company.
2. Pacific Life sits at just under $1.7B through Q3 2024. Pacific Life Includess Pacific Life Insurance Company as well as Pacific Life & Annuity Company
3. USAA Life Insurance Company sits just shy of $1B through Q3 2024 and looks a shoe-in to top $1B for 2024
4. The Prudential Insurance Company of America sits at 878M through Q3 2024 and looks set to top $1B for 2024

With a strong Q4, at least on par with Q3, New York Life could reach $1B for 2024 as well. It's notable that many of these companies were established in the 19th Century.  USAA Life Insurance Company, based in San Antonio Texas is a "Boomer", having been established in 1963

What Are Structured Settlement Annuities? Structured Settlement Annuities 2024 (4structures.com)Types of

Structured Settlement Payments | Structured Settlement Payment Options (4structures.com)

 

 

Met Life Q1 2023 Results "Strong Structured Settlement Sales"

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Structured settlements sales and UK longevity reinsurance were a bright spot in MetLife's Q1 2003 results  MetLife Announces First Quarter 2023 Results | Business Wire

MetLife's Retirement and Income Segment

Premiums, excluding pension risk transfers, adjusted premiums, fees and other revenues were $669 million, up 43 percent, primarily driven by strong structured settlement sales and growth in UK longevity reinsurance.

MetLIfe issues structured settlements through Metropolitan Tower LIfe Insurance Company and Metropolitan Life Insurance Company and structured judgment annuities thorugh Metropolitan Life insurance Company. MetLife Structured Settlements has had a very strong social media presence in the last 12 month. MetLife has  clearly ramped up efforts to create more awareness for its non qualified structured settlement products

• Structured Installment Sales
• Employment Settlements
• Wrongful Incarceration. Wrongful Conviction Settlements
• Construction Defects and Property Damage Settlements
• Intellectual Property Settlements
• Civil Rights cases

Which Structured Annuity Issuers Are Among A. M. Best List of Largest Insurers?

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Insurance groups that include current and former structured settlement annuity issuers represent more than 43% of the largest life insurance groups in the United States.

• Prudential  (1)
• MetLife (2)
• New York Life(3)
• Massachusetts Mutual Life (4,  former structured settlement annuity issuer)
• AIG Life & Retirement  (6, soon to be Corebridge Financial)
• Lincoln Financial (8, acquired Liberty Life of Boston structured settlement block, reinsured by Protective Life, #26)
• John Hancock (10)
• Brighthouse Financial  (15, includes legacy Travelers Insurance Company/ legacy MetLife Insurance Company of CT structures)
• Pacific Life (16)
• Athene (19, includes former Aviva,  CGNU and CGU Life structured settlement business)
• Talcott Resolution  (21, formerly known as Hartford Life)
• Protective Life (26, reinsurer of Lincoln Life of Boston structured settlement business-formerly Liberty LIfe of Boston)
• Genworth (30, roll up and spin off of First Colony, American Mayflower, GE Capital Assurance Company, GE Capital Life  Assurance company of NY)

Source: A. M. Best 2022 List of Largest US Insurerance Groups, published July 2022.

While size matters, it is only one of the criteria one should use in selecting an insurance company to fund a structured settlement.

List of current structured settlement annuity issuers in the USA and their ratings.

 

 

 

 

Structured Settlement Companies | A.M. Best A or Better for 75 years

by John Darer CLU ChFC MSSC CeFT RSP CLTC

The longevity of the life insurance company is an important consideration when you consider a structured settlement for long term or lifetime obligation that may stretch 50 or more years into the future

Among the important items to consider is the insurance company's ratings with third party rating agencies. Structured settlement annuity companies are life insurance companies who issue structured settlement annuities, life insurance and other insurance and financial products. Many structured settlement annuity issuing life insurance companies have been around for more than 75 years, some for more than 100 years. 

Peter Piper "Picked a Peck of Future Periodic Payment Payers"

Consistent ratings, reliable payments earns trust

Best's Review, A.M Best periodically publishes a list of life/health insurers with an A.M. Best rating of A (Excellent) or higher for 75 years,  a period which has seen numerous wars and economic crises, booms and busts.  Ratings used for the publication were current as of April 26, 2020.

Current structured settlement annuity issuing life insurance companies

• Metropolitan Life Insurance Company, since 1928
• New York Life Insurance Company, since 1928
• The Prudential Insurance Company Of America, since 1928

Note each of that each of these life insurance companies  has been in existence since the 1800s.

Life insurance companies who used to write structured settlement annuities who have such annuities on their books

• Massachusetts Mutual Life Insurance Company, since 1939

A.M. Best also publishes a list of the life/health insurers who have maintained an A.M. Best Rating of A, or higher for 50 years

In addition to the above, the 50 year list includes current structured settlement annuity companies:

• American General Life Insurance Company, since 1968
• Pacific Life Insurance Company, since 1959
• United of Omaha Life Insurance Company, since 1956
• United States Life Insurance Company in the City of New York, since 1959

 

While you may notice that Berkshire Hathaway Life Insurance Company of Nebraska is not on life/health list, this is because the company started in 1993.  Its parent National Indemnity Company, a prominent property casualty insurer and reinsurer was founded in 1940 and is has been A or better for more than 50 years on the property casualty side.  National Indemnity is used for periodic payment reinsurance , sometimes referred to as reinsurance structured settlements. 

USAA Life Insurance Company, currently rated A++ by A.M. Best is part of United Services Automobile Association  (USAA) which has been rated A or better since 1927.

American Home Assurance Company, which was, for many years, used as the qualified assignment company for structured settlements funded by AIG life company subsidiaries in New York has been rated A or better since 1944, more than 50 years.

Structured settlement annuity companies are among the largest life and health insurers in the United States.  

 

 

                                                                                                                                                                                                                                                                                                                     

Structured Settlement Industry Continues to Thrive on Providing Core Safety and Security

by John Darer CLU ChFC MSSC CeFT RSP CLTC

Structured Settlement Industry at "Half Time" 2019

After returning to $6 billion in production in 2018,  structured settlement industry production for the first six months of 2019 was $3,062,569,865 in premium

Stable income is sexy

for structured settlement annuities  Leading at half time were MetLife (Metropolitan Tower Life Insurance Company and Metropolitan Life insurance Company), Pacific Life Insurance Company (including Pacific Life and Annuity Company for New York structured settlement quotes) and Berkshire Hathaway (which includes Berkshire Hathaway Life Insurance Company of Nebraska, First Berkshire Hathaway Life Insurance Company and National Indemnity Company for reinsurance structured settlements.  Prudential Insurance Company of America and USAA Life Insurance Company round out the top 5 at half time.

Some of the ways structured settlements can be used

• Provide guaranteed safe and secure income streams
• Provide a strong and stable foundation for plaintiff's settlement planning.
• Can match up with known needs and provide a stable foundation for young adults, young families, optimistic people who want to delay the start of social security and get higher payments. 
• Multiple payments streams can be customized and issued in a single contract, or in multiple contracts across multiple companies for diversification.
• Save significant money on the cost of funding an MSA.
• Attorney fee deferrals  without limitations and the administrative costs of qualified pension plans.

There many other applications. I've been told I'm a good sounding board. Contact me anytime to discuss your personal situation.

Metropolitan Tower Life To Merge With General American Life

by John Darer CLU ChFC MSSC CeFT CLTC

MetLife, Inc. announced in January 2018 that it intends to merge two subsidiaries Metropolitan Tower Life Insurance Company and General American Life Insurance Company. The surviving brand will be Metropolitan Tower Life Insurance Company, which underwrites structured settlement annuities and this month began to offer non qualified assignments. Metropolitan Tower Life Insurance Company will be re-domesticated to Nebraska from Delaware.

MetLife announced that the merger will streamline corporate and administrative structure, enhancing MetLife's ability to be competitive, flexible and well positioned to meet customer needs.

MetLife issues structured settlements through two subsidiaries, Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company.

 

Structured Settlement Annuity Issuers In 50% of Top 12 US Holding Companies 2016

by John Darer® CLU ChFC MSSC RSP CLTC

Structured settlement annuities tend to be issued by largest and well capitalized insurers in the United States. 50% of the top 12 insurance holding companies in the United States include a subsidiary or subsidiaries that issue structured settlement annuities. [ Data compiled from Best's Review, based on 2016 assets]

MetLife Inc.   

• Metropolitan Life Insurance Company
• Metropolitan Tower Life Insurance Company

Prudential Financial, Inc.

• The Prudential Insurance Company of America

Berkshire Hathaway, Inc.

• Berkshire Hathaway Life Insurance Company of Nebraska
• First Berkshire Hathaway Life Insurance Company
• Columbia Insurance Company
• National Indemnity Company

American International Group, Inc.

• American General Life Insurance Company
• United States Life Insurance Company in the City of New York
• Variable Annuity Life Insurance Company [(VALIC)  former]

The Hartford Financial Services Group. Inc.

• Hartford Life Insurance Company (former issuer)
• Hartford Life Inc. (a guarantor under the Hartford program)

Pacific Mutual Holding Company

• Pacific Life Insurance Company
• Pacific Life and Annuity Company

Liberty Mutual Holding Company Inc.

• Liberty Life Assurance Company of Boston
• Liberty Mutual Insurance Company (guarantor of Liberty Life)

 

MetLife Offers New Online Portal to Structured Settlement Annuitants

by John Darer® CLU ChFC MSSC RSP CLTC

Great move by MetLife

MetLife has announced the release of its new annuity online portal called “MyBenefits” is now live for all Structured Settlement Annuitants.

MetLife Has a New Online Portal for Structured Settlement Annuitants

Annuitants can log in to the portal to access information on their specific contracts and their payments. MetLife annuitants will now be able to make administrative requests like bank and address changes to keep their account up to date online. MyBenefits also houses a glossary of helpful terms and answers to FAQs.

Details for MyBenefits, including how to register, are provided in the certificate/contract welcome package sent to annuitants

The initial roll out includes contracts issued with numbers beginning with 20XXX, which my sources tell me goes back to November 2015.  Additional contracts will be added and the project to include all contracts is targeted to be online by the end of 2017.

Metlife underwrites structured settlement annuities through two underwriting companies: Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company

 

 

 

New York City Structured Settlements 2022 | Structured Settlement Annuities in NY State

by John Darer CLU ChFC CeFT MSSC RSP CLTC

 

Which New York life insurance companies issue structured settlement annuities to fund New York structured settlements in Bronx, Brooklyn (Kings), Queens, Staten Island (Richmond) and New York (Manhattan), Nassau, Suffolk, Westchester, Orange, Putnam and Rockland Counties in 2022?

 

New York City Sunset

These insurance companies are the primary issuers of structured settlement annuities for the New York City area to fund NY personal injury, NY medical malpractice, NY wrongful death, auto accident, NY workers compensation settlements and to fund Structured Medicare Set Asides in 2022.

1. First Berkshire Hathway Life Insurance Company Home Office: Flushing, NY
2. Metropolitan Life Insurance Company   Home Office: New York, NY
3. Metropolitan Tower Life Insurance Company Home Office: Wilmington, DE
4. New York Life Insurance Company Home Office: New York, NY
5. Pacific Life and Annuity Company   Home Office: Newport Beach, CA
6. The Prudential Insurance Company of America Home Office: Newark, NJ
7. United States Life Insurance Company in The City of New York Home Office: New York, NY
8. USAA Life Insurance Company Home Office: San Antonio TX (where parties consent to using non admitted carrier)

Cases in surrounding counties such as Fairfield County, CT and Bergen County, NJ would substitute, Berkshire Hathaway Life Insurance Company of Nebraska, Pacific Life Insurance Company and American General Life Insurance Company for numbers 1, 6 and 8 respectively. Please note that a limited number of insurance companies underwrite structured settlements compared to other types of annuities.

For New York cases that go to a structured judgment, pursuant to CPLR Article 50A or Article 50B, the following of the above structured settlement annuity issuers will write annuities to fund 50A or 50B structured judgments:

 

1. Metropolitan Life Insurance Company
2. Pacific Life and Annuity Company
3. United States Life Insurance Company in The City of New York

The onerous acceleration provision for late payments in Articles 50A and 50B is the primary reason for why only three carriers write structured judgment annuities in New York.

Periodic Payment Reinsurance is available through National Indemnity Company (Berkshire Hathaway).

Structured settlement annuities are only offered through appointed structured settlement managing general agencies by their insurance licensed employees, or through affiliated insurance licensed independent agents and brokers.

Current as of July 3, 2022

Note that structured settlements can also be funded with United States Treasury Obligations. Market based options are also available.

What You Need To Know About Structured Settlement Quotes in New York

Structured Settlement quote form online.

Click left or call 646-849-1588 for New York City structured settlement quotes, employment structured settlement quotes, divorce structured settlement quotes, periodic payment reinsurance structured sales quotes for business installment sales and real estate installment

New York Structured Settlements

 

Last updated February 13, 2022

by John Darer CLU ChFC CeFT MSSC RSP CLTC

 

Which New York life insurance companies issue structured settlement annuities to fund New York structured settlements in Bronx, Brooklyn (Kings), Queens, Staten Island (Richmond) and New York (Manhattan), Nassau, Suffolk, Westchester, Orange, Putnam and Rockland Counties in 2022?

 

New York City Sunset

These insurance companies are the primary issuers of structured settlement annuities for the New York City area to fund NY personal injury, NY medical malpractice, NY wrongful death, auto accident, NY workers compensation settlements and to fund Structured Medicare Set Asides in 2022.

1. First Berkshire Hathway Life Insurance Company Home Office: Flushing, NY
2. Metropolitan Life Insurance Company   Home Office: New York, NY
3. Metropolitan Tower Life Insurance Company Home Office: Wilmington, DE
4. New York Life Insurance Company Home Office: New York, NY
5. Pacific Life and Annuity Company   Home Office: Newport Beach, CA
6. The Prudential Insurance Company of America Home Office: Newark, NJ
7. United States Life Insurance Company in The City of New York Home Office: New York, NY
8. USAA Life Insurance Company Home Office: San Antonio TX (where parties consent to using non admitted carrier)

Cases in surrounding counties such as Fairfield County, CT and Bergen County, NJ would substitute, Berkshire Hathaway Life Insurance Company of Nebraska, Pacific Life Insurance Company and American General Life Insurance Company for numbers 1, 6 and 8 respectively. Please note that a limited number of insurance companies underwrite structured settlements compared to other types of annuities.

For New York cases that go to a structured judgment, pursuant to CPLR Article 50A or Article 50B, the following of the above structured settlement annuity issuers will write annuities to fund 50A or 50B structured judgments:

 

1. Metropolitan Life Insurance Company
2. Pacific Life and Annuity Company
3. United States Life Insurance Company in The City of New York

The onerous acceleration provision for late payments in Articles 50A and 50B is the primary reason for why only three carriers write structured judgment annuities in New York.

Periodic Payment Reinsurance is available through National Indemnity Company (Berkshire Hathaway).

Structured settlement annuities are only offered through appointed structured settlement managing general agencies by their insurance licensed employees, or through affiliated insurance licensed independent agents and brokers.

Current as of July 3, 2022

Note that structured settlements can also be funded with United States Treasury Obligations. Market based options are also available.

What You Need To Know About Structured Settlement Quotes in New York

Structured Settlement quote form online.

Click left or call 646-849-1588 for New York City structured settlement quotes, employment structured settlement quotes, divorce structured settlement quotes, periodic payment reinsurance structured sales quotes for business installment sales and real estate installment

New York Structured Settlements

 

by John Darer CLU ChFC CeFT MSSC RSP CLTC

 

Which New York life insurance companies issue structured settlement annuities to fund New York structured settlements in Bronx, Brooklyn (Kings), Queens, Staten Island (Richmond) and New York (Manhattan), Nassau, Suffolk, Westchester, Orange, Putnam and Rockland Counties in 2022?

 

New York City Sunset

These insurance companies are the primary issuers of structured settlement annuities for the New York City area to fund NY personal injury, NY medical malpractice, NY wrongful death, auto accident, NY workers compensation settlements and to fund Structured Medicare Set Asides in 2022.

1. First Berkshire Hathway Life Insurance Company Home Office: Flushing, NY
2. Metropolitan Life Insurance Company   Home Office: New York, NY
3. Metropolitan Tower Life Insurance Company Home Office: Wilmington, DE
4. New York Life Insurance Company Home Office: New York, NY
5. Pacific Life and Annuity Company   Home Office: Newport Beach, CA
6. The Prudential Insurance Company of America Home Office: Newark, NJ
7. United States Life Insurance Company in The City of New York Home Office: New York, NY
8. USAA Life Insurance Company Home Office: San Antonio TX (where parties consent to using non admitted carrier)

Cases in surrounding counties such as Fairfield County, CT and Bergen County, NJ would substitute, Berkshire Hathaway Life Insurance Company of Nebraska, Pacific Life Insurance Company and American General Life Insurance Company for numbers 1, 6 and 8 respectively. Please note that a limited number of insurance companies underwrite structured settlements compared to other types of annuities.

For New York cases that go to a structured judgment, pursuant to CPLR Article 50A or Article 50B, the following of the above structured settlement annuity issuers will write annuities to fund 50A or 50B structured judgments:

 

1. Metropolitan Life Insurance Company
2. Pacific Life and Annuity Company
3. United States Life Insurance Company in The City of New York

by John Darer CLU ChFC CeFT MSSC RSP CLTC

 

Which New York life insurance companies issue structured settlement annuities to fund New York structured settlements in Bronx, Brooklyn (Kings), Queens, Staten Island (Richmond) and New York (Manhattan), Nassau, Suffolk, Westchester, Orange, Putnam and Rockland Counties in 2022?

 

New York City Sunset

These insurance companies are the primary issuers of structured settlement annuities for the New York City area to fund NY personal injury, NY medical malpractice, NY wrongful death, auto accident, NY workers compensation settlements and to fund Structured Medicare Set Asides in 2022.

1. First Berkshire Hathway Life Insurance Company Home Office: Flushing, NY
2. Metropolitan Life Insurance Company   Home Office: New York, NY
3. Metropolitan Tower Life Insurance Company Home Office: Wilmington, DE
4. New York Life Insurance Company Home Office: New York, NY
5. Pacific Life and Annuity Company   Home Office: Newport Beach, CA
6. The Prudential Insurance Company of America Home Office: Newark, NJ
7. United States Life Insurance Company in The City of New York Home Office: New York, NY
8. USAA Life Insurance Company Home Office: San Antonio TX (where parties consent to using non admitted carrier)

Cases in surrounding counties such as Fairfield County, CT and Bergen County, NJ would substitute, Berkshire Hathaway Life Insurance Company of Nebraska, Pacific Life Insurance Company and American General Life Insurance Company for numbers 1, 6 and 8 respectively. Please note that a limited number of insurance companies underwrite structured settlements compared to other types of annuities.

For New York cases that go to a structured judgment, pursuant to CPLR Article 50A or Article 50B, the following of the above structured settlement annuity issuers will write annuities to fund 50A or 50B structured judgments:

 

1. Metropolitan Life Insurance Company
2. Pacific Life and Annuity Company
3. United States Life Insurance Company in The City of New York

The onerous acceleration provision for late payments in Articles 50A and 50B is the primary reason for why only three carriers write structured judgment annuities in New York.

Periodic Payment Reinsurance is available through National Indemnity Company (Berkshire Hathaway).

Structured settlement annuities are only offered through appointed structured settlement managing general agencies by their insurance licensed employees, or through affiliated insurance licensed independent agents and brokers.

Current as of July 3, 2022

Note that structured settlements can also be funded with United States Treasury Obligations. Market based options are also available.

What You Need To Know About Structured Settlement Quotes in New York

Structured Settlement quote form online.

Click left or call 646-849-1588 for New York City structured settlement quotes, employment structured settlement quotes, divorce structured settlement quotes, periodic payment reinsurance structured sales quotes for business installment sales and real estate installment

New York Structured Settlements

 

by John Darer CLU ChFC CeFT MSSC RSP CLTC

 

Which New York life insurance companies issue structured settlement annuities to fund New York structured settlements in Bronx, Brooklyn (Kings), Queens, Staten Island (Richmond) and New York (Manhattan), Nassau, Suffolk, Westchester, Orange, Putnam and Rockland Counties in 2022?

 

New York City Sunset

These insurance companies are the primary issuers of structured settlement annuities for the New York City area to fund NY personal injury, NY medical malpractice, NY wrongful death, auto accident, NY workers compensation settlements and to fund Structured Medicare Set Asides in 2022.

1. First Berkshire Hathway Life Insurance Company Home Office: Flushing, NY
2. Metropolitan Life Insurance Company   Home Office: New York, NY
3. Metropolitan Tower Life Insurance Company Home Office: Wilmington, DE
4. New York Life Insurance Company Home Office: New York, NY
5. Pacific Life and Annuity Company   Home Office: Newport Beach, CA
6. The Prudential Insurance Company of America Home Office: Newark, NJ
7. United States Life Insurance Company in The City of New York Home Office: New York, NY
8. USAA Life Insurance Company Home Office: San Antonio TX (where parties consent to using non admitted carrier)

Cases in surrounding counties such as Fairfield County, CT and Bergen County, NJ would substitute, Berkshire Hathaway Life Insurance Company of Nebraska, Pacific Life Insurance Company and American General Life Insurance Company for numbers 1, 6 and 8 respectively. Please note that a limited number of insurance companies underwrite structured settlements compared to other types of annuities.

For New York cases that go to a structured judgment, pursuant to CPLR Article 50A or Article 50B, the following of the above structured settlement annuity issuers will write annuities to fund 50A or 50B structured judgments:

 

1. Metropolitan Life Insurance Company
2. Pacific Life and Annuity Company
3. United States Life Insurance Company in The City of New York

Metropolitan Tower Life is New Structured Settlement Annuity Issuer for MetLife

by John Darer CLU ChFC MSSC CeFT RSP CLTC

MetLife announced on May 3, 2017 that Metropolitan Tower Life Insurance Company  ("MetLife Tower Life"), a Delaware company and wholly owned subsidiary, became the primary underwriting company for structured settlement annuities offered. 

Who is Metropolitan Tower Life Insurance?

Metropolitan Tower Life was the successor-in-interest to Metropolitan Insurance and Annuity Company ("MIAC)" that was the qualified assignment company used by MetLife structured settlements  until about 12.5 years ago. At the time it was announced April 26, 2005, MetLife stated that "structured settlement annuities in-force and/or issued prior to December 1, 2004 are the responsibility of Metropolitan Tower Life Insurance Company", which held an A+(Superior) rating from A.M. Best as it does today, with a current size category XV.  The company is rated Aa3 (High Quality) by Moodys.

The Qualified Assigmment Company for Metropolitan Tower Structured Settlement Annuities?

Under the new program, MetLife Assignment Company Inc., (MACI) will be the qualified assignment company.  The obligations of MACI will be guaranteed by Met Tower Life under an Evidence of Guarantee.  With $4B in assets, MetLife Tower Life is a considerably smaller underwriting company in terms of assets than Metropolitan Life Insurance Company. It does however have a strong surplus position of 16.5% of general account assets and a Comdex rating of 96, that exceeds Metropolitan Life Insurance Company  [Source: Vital Signs]

MetLife says it will continue to offer structured settlement annuities out of 156 year old Metropolitan Life Insurance Company, but will require Home Office quoting

Other companies such as Berkshire Hathaway only do Home Office quoting and it has not been a problem. MetLife has seasoned and reliable quote desk with a blend of long time veterans and a wealth of experience getting it done for its appointed agents and their clients.

MetLife has been a fixture among structured settlement annuity issuers for over 36 years and has continually underscored its commitment to those serving the legal marketplace and their clients.

Last updated January 2, 2024