Texas Insurance Industry Remains on Solid Financial Footing
The financial health of the Texas life insurance industry is generally strong but is not immune to downward trends in the national financial markets. The Texas Department of Insurance has a number of processes in place to monitor the financial condition of insurers and to ultimately protect insurance policyholders.
Even though Term life insurance companies operating in Texas saw a downturn in investment returns in 2008, the industry still earned over $195.7 billion of investment income, finishing the year with over $ 767.9 billion in capital and surplus and more than $ 3.2 trillion in reserves supporting insurance policies. Such capitalization allows companies to weather economic fluctuations. Even as some companies with a greater percentage of investments in the stock market, real estate and mortgage-related securities are seeing more adverse results, the overall industry in Texas is on solid footing.
Friday, October 15, 2010
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