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Met Life Ranks First Among 3q Life Writers

MetLife continued as the No. 1 life insurance writer for third-quarter 2012, despite experiencing a nearly 10 percent decrease in life premiums.

SNL Financial reports that overall, life premiums stayed flat in the third quarter. Premiums declined at MetLife Inc., Lincoln National Corp., New York Life Insurance Co. and Prudential Financial Inc. Those declines offset gains made by other top 10 U.S. life insurers in the third quarter.

Lincoln saw a 15 percent decline in life premiums in the third quarter, which president and CEO Dennis Glass attributed to the company’s ongoing efforts to “aggressively re-price guaranteed universal life” business. New York Life reported an increase in sales of recurring premium whole life insurance but total life premium for the company declined 6.5 percent, according to SNL.

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