A Firm Foundation: How Insurance Supports the Economy

Gross State Product (GSP), Insurance Carriers And Related Activities, 2015-2016

($ millions)

State 2015 2016 As a percent of 2016 total GSP
Alabama $4,552 $4,333 2.13%
Alaska 403 329 0.67
Arizona 8,071 7,911 2.54
Arkansas 2,284 2,384 1.99
California 38,770 35,691 1.34
Colorado 6,612 6,726 2.05
Connecticut 19,973 20,703 7.86
Delaware 10,263 9,683 13.74
D.C. 1,749 1,703 1.31
Florida 27,470 26,986 2.88
Georgia 12,207 12,147 2.26
Hawaii 1,661 1,561 1.82
Idaho 1,208 1,179 1.70
Illinois 38,086 38,822 4.83
Indiana 13,569 13,352 3.94
Iowa 17,290 19,333 10.73
Kansas 4,851 5,197 3.34
Kentucky 5,810 6,186 3.17
Louisiana 4,661 5,051 2.22
Maine 2,014 2,006 3.37
Maryland 8,995 9,422 2.45
Massachusetts 16,566 16,712 3.22
Michigan 15,568 14,979 3.06
Minnesota 14,131 13,552 4.01
Mississippi 2,153 2,232 2.09
Missouri 9,047 9,273 3.13
Montana 755 798 1.75
Nebraska 8,184 8,143 7.00
Nevada 2,843 3,307 2.21
New Hampshire 4,277 4,343 5.54
New Jersey 18,460 18,182 3.12
New Mexico 1,514 1,585 1.74
New York 54,867 59,823 3.88
North Carolina 9,306 9,850 1.90
North Dakota 1,276 1,180 2.31
Ohio 25,370 26,707 4.30
Oklahoma 3,429 3,532 1.97
Oregon 4,620 5,318 2.47
Pennsylvania 26,161 27,441 3.79
Rhode Island 2,810 2,887 4.99
South Carolina 4,694 5,012 2.36
South Dakota 1,184 1,291 2.66
Tennessee 8,619 9,592 2.87
Texas 37,660 40,891 2.61
Utah 2,794 2,961 1.88
Vermont 991 1,063 3.37
Virginia 7,995 8,010 1.62
Washington 7,597 8,226 1.67
West Virginia 1,290 1,457 2.08
Wisconsin 17,205 18,133 5.81
Wyoming 338 362 1.01
United States $542,201 $557,548 2.98%

Note: Last updated: November 14, 2018. Revised statistics for 2015 and 2016.

Source: U.S. Department of Commerce, Bureau of Economic Analysis.

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