- U.S. insurance industry net premiums written totaled $1.4 trillion in 2021, with premiums recorded by property/casualty (P/C) insurers accounting for 53 percent, and premiums by life/annuity insurers accounting for 47 percent, according to S&P Global Market Intelligence.
- P/C insurance consists primarily of auto, homeowners and commercial insurance. Net premiums written for the sector totaled $715.9 billion in 2021.
- The life/annuity insurance sector consists of annuities, accident and health, and life insurance. Net premiums written for the sector totaled $635.8 billion in 2021.
- The U.S. insurance industry employed 2.8 million people in 2021, according to the U.S. Department of Labor. Of those, 1.6 million worked for insurance companies, including life and health insurers (911,400 workers), P/C insurers (628,600 workers) and reinsurers (26,900 workers). The remaining 1.2 million people worked for insurance agencies, brokers and other insurance-related enterprises.
Employment In Insurance, 2014-2023
| |
Insurance carriers |
Insurance agencies, brokerages and related services |
|
| |
Direct insurers (1) |
|
|
|
|
|
|
| Year |
Life and
health (2) |
Property/
casualty |
Reinsurers |
Total |
Insurance
agencies
and brokers |
Other
insurance-
related
activities (3) |
Total |
Total
industry |
| 2014 |
829.0 |
594.7 |
25.1 |
1,448.7 |
720.0 |
297.1 |
1,017.1 |
2,465.8 |
| 2015 |
829.8 |
611.6 |
25.1 |
1,466.5 |
762.8 |
309.1 |
1,071.8 |
2,538.3 |
| 2016 |
818.9 |
643.5 |
25.3 |
1,487.7 |
783.5 |
321.5 |
1,105.0 |
2,592.7 |
| 2017 |
850.4 |
639.7 |
26.6 |
1,516.7 |
809.6 |
333.3 |
1,142.9 |
2,659.6 |
| 2018 |
882.8 |
629.5 |
28.6 |
1,540.9 |
825.6 |
346.2 |
1,171.8 |
2,712.7 |
| 2019 |
931.2 |
650.3 |
28.6 |
1,610.1 |
842.8 |
349.5 |
1,192.2 |
2,802.3 |
| 2020 |
945.6 |
653.9 |
27.6 |
1,627.1 |
856.5 |
352.3 |
1,208.8 |
2,835.9 |
| 2021 |
908.7 |
646.9 |
28.1 |
1,583.7 |
886.6 |
354.5 |
1,241.2 |
2,824.9 |
| 2022 |
900.9 |
684.9 |
30.2 |
1,616.0 |
934.8 |
367.2 |
1,302.0 |
2,918.0 |
| 2023 (4) |
912.3 |
680.5 |
30.9 |
1,623.8 |
963.0 |
388.6 |
1,351.6 |
2,975.3 |
(1) Establishments primarily engaged in initially underwriting insurance policies.
(2) Includes establishments engaged in underwriting annuities, life insurance and health and medical insurance policies.
(3) Includes claims adjusters, third-party administrators of insurance funds and other service personnel such as advisory and insurance ratemaking services.
(4) Preliminary.
Source: U.S. Department of Labor, Bureau of Labor Statistics.
