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Life Insurance & Annuities in Pennsylvania

Author.Name IBISWorld United States Last Updated: August 2025 NAICS PA52411a

Life Insurance & Annuities in Pennsylvania industry analysis

The Life Insurance & Annuities industry in Pennsylvania is expected to decline an annualized -x.x% to $x.x billion over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments decreased an annualized -x.x% to xxx locations. Industry employment has decreased an annualized -x.x% to x,xxx workers, while industry wages have decreased an annualized -x.x% to $x.x billion.

Over the five years to 2030, the industry is expected to grow an annualized x.x% to $x.x billion, while the national industry is expected to grow x.x%. Industry establishments are forecast to decline -x% to xxx locations. Industry employment is expected to increase an annualized x.x% to x,xxx workers, while industry wages are forecast to increase x% to $x.x billion.

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About the Life Insurance & Annuities in Pennsylvania Market Research Report

What’s Included in the Life Insurance & Annuities in Pennsylvania Market Research Report

Definition of the Life Insurance & Annuities in Pennsylvania?

Companies in this industry are primarily engaged in accepting liability under annuities and life, disability income and accidental death and dismemberment insurance policies. Enterprises within this industry include fraternal organizations, privately held insurers, publicly traded insurers and mutual insurance companies.

What’s included in the Life Insurance & Annuities in Pennsylvania?

The Life Insurance & Annuities in Pennsylvania includes individual annuities, group annuities, individual life insurance, group life insurance, investment income, disability insurance and credit life insurance. Related terms covered in the Life Insurance & Annuities in Pennsylvania industry report includes a type of investment vehicle that guarantees a future stream of fixed payments. annuities transfer investment risk from the insured to the insurer, the total dollar amount of insurance that has been issued by a company, which is generally the sum of the face value or potential payouts of the policy plus dividends, a policy that provides similar coverage as term life insurance but is meant to be held and paid for during the duration of the insured person's life, a policy that provides life insurance coverage at a fixed rate of payments over a limited period of time, usually one year. after the period, coverage at the previous rate is not guaranteed, a type of annuity that provides future payments to the contract holder, usually at retirement. payments are dependent on the performance of an annuity's underlying portfolio of securities, a type of life insurance in which benefit payments are determined by the performance of underlying investments chosen by the policyholder and a permanent life insurance policy that remains in force for the insured person's whole life as long as premium payments remain current or on time.

Industry Performance of the Life Insurance & Annuities industry in Pennsylvania

Benchmark the Life Insurance & Annuities in Pennsylvania industry performance with all PA county and national performance.

Life Insurance & Annuities in Pennsylvania

#7 in Highest Revenue 5% of state's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Life Insurance & Annuities in the US


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

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Key Drivers of the Life Insurance & Annuities industry in Pennsylvania

See how key industry drivers, such as are impacting Life Insurance & Annuities in Pennsylvania

Pennsylvania Economic Indicators

Population
Per Capita Disposable Income

View more economic information in PA State Economic profile

US Key External Drivers

Per capita disposable income
Households earning more than $100,000
Number of employees

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County Data of the Life Insurance & Annuities industry in Pennsylvania

Access proprietary data on county in the Life Insurance & Annuities in Pennsylvania, such as Allegheny County, Philadelphia County and Montgomery County. Data includes figures on revenue, establishments, employees and wages by counties.

Key Statistics of the Life Insurance & Annuities industry in Pennsylvania

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Life Insurance & Annuities industry in Pennsylvania in 2025?

The market size of the Life Insurance & Annuities industry in Pennsylvania is $50.7bn in 2025.

How many businesses are there in the Life Insurance & Annuities industry in Pennsylvania in 2025?

There are 265 businesses in the Life Insurance & Annuities industry in Pennsylvania, which has been declining at an average annual rate of -7.2% from 2020 to 2025.

Has the Life Insurance & Annuities industry in Pennsylvania grown or declined over the past 5 years?

The market size of the Life Insurance & Annuities industry in Pennsylvania has been declining at an average annual rate of -0.4% from 2020 to 2025.

How many employees in the Life Insurance & Annuities industry in Pennsylvania in 2025?

There are 15,854 employees in the Life Insurance & Annuities industry in Pennsylvania, which has been declining at an average annual rate of -2.6% from 2020 to 2025.