Filed Under:Your Practice, Sales Marketing

Life industry ad spending up slightly in 2012

Collectively, the top 10 life insurers accounted for 57 percent of the industry’s ad spending in 2012.
Collectively, the top 10 life insurers accounted for 57 percent of the industry’s ad spending in 2012.

Total advertising spending among the nation’s life insurers edged up nearly one percent in 2012, new research shows.

SNL Financial LC released this finding in a summary of results from a study that reviews changes in advertising expenses among the top carriers between 2011 and 2012. SNL reviewed advertising expenses based on total expenses, excluding accident and health cost containment and other expenses.

The report pegs total ad dollars spent by the top 10 insurers in 2012 at $1.385 billion, a $12.3 million or 0.9 percent increase over the $1.373 billion recorded in 2011. Spending among the top 10 insurers, however, dipped to $783.8 million from $784.8 million, a decline of $1 million or 0.1 percent.

Collectively, the report states the top 10 insurers accounted for 57 percent of the industry’s ad spending in 2012. New York Life led spending among the top 10 with $148.4 million in ad dollars, an $8.9 million or 6.4 percent gain over the year prior.

Holding the number two and three positions in ad dollars were MetLife and Mutual of Omaha. The companies recorded ad spending of $134.8 million and $118.6 million, respectively.

But whereas MetLife’s spending represents a 3.2 percent ($4.5 million) decline from 2011, Mutual of Omaha’s ad dollars increased $1 million or 0.9 percent over that of 2011.

Prudential Financial, occupying the fourth ranking position, had ad spending of $109.3 million in 2012, an $18 million (19.7 percent) gain over the $91.3 million the company posted in 2011. Gerber Life Insurance, in fifth place, shelled out $65.9 million in dollars in 2012, off $13.7 million (17.2 percent) from the $79.6 million recorded in 2011.

The SNL report shows the following 2012 results among the remaining top 10 companies:

● CNO Financial Group ($50.8 million, up 9.1 percent from 2011)

● Manulife Financial Group ($41.6 million, down 17.6 percent)

State Farm Life Insurance ($40.8 million, down 46.8 percent)

● Nationwide Mutual ($38.5 million, up 46.9 percent)

● AEGON ($35.1 million, up 98.3 percent)

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.