How life insurers earn money: premiums and fees customers pay vs net investment income (NII) from investing those premiums, for the four largest carriers.

Net investment yield (annual investment income over average invested assets), 2018-2025, the main profitability driver for life insurers. Yields rose from ~3.5% to ~4.5% after 2022.

Assets Under Management / separate-account assets by major life insurer (Q4 2025). Captures the fee-generating asset-management arm beyond the insurance book.

Operating ROE (adjusted operating earnings divided by shareholders' equity) for major life carriers, 2024 vs 2025, against the 12% long-term target line.