Halsey Josephson

  • 1976 1021 - NYT - Obituary - Halsey D. Josephson, 70, Author of Seven Books on Life Insurance - [link]
    • In 1954, he founded Probe, a biweekly newsletter of commentary on the American life‐insurance scene.
    • He leaves his wife, the former Ruth P. Goldstein, and two sons, Halsey Jr. and Robert.
  • <WishList> - Probe Magazine - Back Issues - by Halsey Josephson
  •  Books
    1. [  ] - 1960 - Book - Discrimination: A Study of Recent Developments in American Life Insurance, by Halsey Josephson 
    2. [  ] - 1964 - Book - Josephson on Agency Management, by Halsey Josephson
    3. x - 1966 - Book - The Case Against New Life Insurance Companies, by Halsey Josephson
    4.  [  ] - 1968 - Book - The Tired Tirade: The Answer to Anti-Life Insurance Books, by Halsey Josephson 
    5. [  ] - 1971 - Book - Life Insurance and the Public Interest, by Halsey Josephson 
    6. [  ] - 1975 - Book - The Curious Consumerist Crusade: A Response To The Latest Attacks By Anti-Life Insurance Critics, by Halsey Josephson
    7. ? - Another book, “Agency Problems and Solutions,” is to be published soon by Farnsworth Publishing Company, by Halsey Josephson
      •  [Bonk: Was this Book Published?  I can't find it]
  • Papers
    • 1970 - AP- Comment - A New Concept of the Economics of Life Value and the Human Life Value:  Comment, by Halsey D. Josephson, The Journal of Risk and Insurance, Vol. 37, No. 4 (Dec., 1970), pp. 641-643 (3 pages), Published By: American Risk and Insurance Association - JSTOR
      • 1968 - AP - A New Concept of the Economics of Life Value and the Human Life Value: A Rationale for Term Insurance as the Cornerstone of Insurance Marketing, by Juan B. Aponte and Herbert S. Denenberg, The Journal of Risk and Insurance, Vol. 35, No. 3 (Sep., 1968), pp. 337-356 (20 pages), Published By: American Risk and Insurance Association - JSTOR

[Bonk: ⇒  Connection]

  • I will start by discussing the expansion and consolidation of the U.S. life insurance industry.
    • Table 1 shows the development, in five-year intervals, of the number of companies in the U.S. since the end of World War II.
    • At the end of World War II, we had 473 life insurance companies in the U.S. (a relatively modest number) of which only one-third were mutual companies, or roughly 160.
    • There was rapid expansion and the number of companies quintupled from 470 in 1945 to 2,300 in 1988 before we began a severe consolidation.
  • Why were so many new companies added in this postwar period?
    • First of all, banks, finance companies and auto dealers formed life insurance companies that were basically credit life and health insurers.
    • A number of reinsurance companies were formed in Arizona, and a number of limited surplus companies were formed in Texas.
    • Both these states have small surplus requirements, which enabled companies to get into the business with very modest capital contribution.

--  Frederick S. Townsend, Jr.

1995 - SOA - International Consolidation of the Life Insurance Industry, Society of Actuaries - 20p