07.31.25

Bright Outlook for Agents as Life, Annuity Sales Set to Climb, Conning Reports

by: Susan Rupe

Four factors are influencing the life/annuity market, said Scott Hawkins, Conning’s head of insurance research. They are economic growth, insurance regulation, growth of artificial intelligence and shifts in reinsurance. “At the beginning of the year, we thought the new administration would be very positive for economic growth,” he said. “But we thought the overall economic growth this year would be slower than last year. Now gross domestic product is expected to remain positive, and it’s still forecast to be so despite the economic turmoil we’ve experienced since Liberation Day." On the regulation front, Conning said "the role that private equity and private credit are playing in the insurance and reinsurance market remains under scrutiny, especially at the state level.” The insurance industry continues to adopt AI, with discussion shifting from what it is to how it will affect the insurance sector and how it's being used, Hawkins said. “With the looming retirement of the baby boomers, we think AI will be even more important to replace a lot of the vacancies left by retirees.”

Read the full article on Insurance News Net