WASHINGTON, Dec. 15, 2016 /PRNewswire-USNewswire/ -- Following is the daily "Profile America" feature from the U.S. Census Bureau:
FIRST LIFE INSURANCE POLICY
Profile America — Thursday, December 15th. America's first life insurance policy issued by a general insurance company was issued on this date in 1794 in Philadelphia. The Insurance Company of North America was organized two years earlier, with a capital of $600,000. But the life insurance venture proved to have a very short life itself, as only six policies were written in five years, and the service was dropped in 1804. The Insurance Company of North America still exists as a subsidiary of a multinational insurance group. Now, of course, life insurance is an enormous business worth about a half-trillion dollars annually, with some 278 million policies in force. There are more than 9,500 establishments in the U.S. employing 357,000 people to sell and administer life insurance policies. Profile America is in its 20th year as a public service of the U.S. Census Bureau.
Kane's Famous First Facts, 4543
Life insurance revenues/NAICS 524113: http://factfinder.census.gov/bkmk/table/1.0/en/ECN/2012_US/00A1//naics~524113
Policies/accessed 9/16/2016: http://www.statista.com/statistics/207651/us-life-insurance-policies-in-force/
Life Insurance Carriers/NAICS 524113: http://factfinder.census.gov/bkmk/table/1.0/en/BP/2014/00A1//naics~524113
Profile America is produced by the Center for New Media and Promotion of the U.S. Census Bureau. Statistics and accounts drawn from cited non-Census sources are employed for illustrative or narrative purposes, and are not attested to by the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on the Internet at http://www.census.gov (look for "Audio" in the "Library" pull-down menu).
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SOURCE U.S. Census Bureau