A Firm Foundation: How Insurance Supports the Economy

Gross State Product (GSP), Insurance Carriers And Related Activities, 2016-2017

($ millions)

State 2016 2017 As a percent of 2017 total GSP
Alabama $4,428 $4,719 2.24%
Alaska 330 400                                        0.77
Arizona 8,177 7,612                                        2.32
Arkansas 2,445 2,251                                        1.82
California 36,411 40,193                                        1.43
Colorado 6,936 6,827                                        1.95
Connecticut 21,729 23,256                                        8.67
Delaware 9,308 8,675                                       12.26
D.C. 1,742 1,604                                        1.20
Florida 27,577 29,745                                        3.02
Georgia 12,442 13,204                                        2.33
Hawaii 1,616 1,703                                        1.90
Idaho 1,212 1,322                                        1.82
Illinois 39,304 38,517                                        4.66
Indiana 13,540 13,516                                        3.85
Iowa 19,260 17,314                                        9.52
Kansas 5,371 5,420                                        3.36
Kentucky 6,336 6,120                                        3.05
Louisiana 5,261 5,312                                        2.22
Maine 2,065 2,291                                        3.69
Maryland 9,695 9,455                                        2.40
Massachusetts 17,093 15,975                                        2.95
Michigan 15,564 13,336                                        2.64
Minnesota 13,915 12,630                                        3.59
Mississippi 2,293 2,219                                        2.01
Missouri 9,528 9,664                                        3.17
Montana 815 818                                        1.72
Nebraska 8,245 9,517                                        7.90
Nevada 3,423 3,375                                        2.12
New Hampshire 4,364 3,835                                        4.74
New Jersey 18,792 19,875                                        3.34
New Mexico 1,627 1,561                                        1.66
New York 60,365 56,315                                        3.51
North Carolina 10,001 10,475                                        1.95
North Dakota 1,205 1,138                                        2.17
Ohio 27,082 26,994                                        4.18
Oklahoma 3,582 3,594                                        1.91
Oregon 5,512 5,005                                        2.21
Pennsylvania 28,060 26,320                                        3.54
Rhode Island 2,945 2,695                                        4.61
South Carolina 5,130 5,455                                        2.45
South Dakota 1,322 1,337                                        2.69
Tennessee 9,836 9,691                                        2.80
Texas 42,039 38,489                                        2.31
Utah 3,084 2,922                                        1.75
Vermont 1,080 1,008                                        3.13
Virginia 8,337 8,447                                        1.66
Washington 8,410 7,875                                        1.50
West Virginia 1,513 1,395                                        1.91
Wisconsin 18,410 17,037                                        5.29
Wyoming 371 341                                        0.91
United States $569,124 $558,790 2.86%

Note: Last updated: April 7, 2020. Revised statistics for 2016.

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

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