A Firm Foundation: How Insurance Supports the Economy

Net Premiums Written, Property/Casualty And Life/Annuities

There are three main insurance sectors. Property/casualty (P/C) consists mainly of auto, home and commercial insurance. Life/annuity consists mainly of life insurance and annuity products. Most private health insurance is written by insurers whose main business is health insurance. However, life/annuity and P/C insurers also write health coverage. In 2018 P/C net premiums written rose by 10,7 percent while life/annuity net premiums written rose at a slower rate, 1.0 percent.

Property/Casualty And Life/Annuity Insurance Premiums, 2018 (1)

(US$ billions)

(1) Property/casualty: net premiums written after reinsurance transactions, excludes state funds; life/annuity: premiums, annuity considerations (fees for annuity contracts) and deposit-type funds. Both sectors include accident and health insurance.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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Property/Casualty And Life/Annuity Insurance Net Premiums Written, 2009-2018

($000)

Year Property/casualty (1) Life/annuity (2) Total
2009 $422,931,285 $491,486,948 $914,418,233
2010 426,082,428 560,434,300 986,516,728
2011 441,585,290 602,255,968 1,043,841,258
2012 460,666,320 623,237,155 1,083,903,475
2013 481,604,890 560,069,272 1,041,674,162
2014 502,578,473 644,479,853 1,147,058,326
2015 520,047,073 635,549,216 1,155,596,289
2016 533,744,458 597,634,158 1,131,378,616
2017 558,135,348 594,910,567 1,153,045,915
2018 617,958,003 600,606,697 1,218,564,700
Percent change,
2009-2018
46.1% 22.2% 33.3%

(1) Net premiums written after reinsurance transactions, excludes state funds, includes accident and health insurance.
(2) Includes premiums, annuity considerations (fees for annuity contracts), deposit-type funds and accident and health insurance.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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