IBISWORLD
Life insurance and annuities: Positive growth seen for 2012Posted by RJ and Makay on Mar 19, 2012 |
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The life insurance and annuities industry, one of the largest sources of investment capital in the U.S., is expected to return to positive growth in 2012, according to the Federal Reserve. Businesses, governments and other organizations rely on life insurers to finance operations. Industry revenues were hurt by the subprime mortgage crisis and financial market collapse. Revenue fell at an average annual rate of 6.2% to $745.6 billion in the five years leading up to 2012.
While the employment picture remains weak in most industry sectors across the U.S., several industries, including the insurance claims industry, are expected to rapidly expand in the next few years. Third-party administrator and claims adjustor positions are projected to grow 5.7% annually between now and 2016, according to industry research firm IBISWORLD.
