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 consists mainly of life insurance and annuity products. Most private health insurance is written by insurers whose main business is health insurance. However, life and P/C insurers also write health coverage. In 2017 P/C net premiums written rose by 4.6 percent while life net premiums written fell by 0.5 percent.

Property/Casualty And Life/Health Insurance Premiums, 2017 (1)

(US$ billions)

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

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

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Property/Casualty And Life/Health Insurance Net Premiums Written, 2008-2017

($000)

Year Property/casualty (1) Life/health (2) Total
2008 $440,318,983 $607,250,216 $1,047,569,199
2009 423,528,077 491,487,792 915,015,869
2010 425,878,773 560,494,920 986,373,693
2011 441,562,154 602,257,296 1,043,819,450
2012 460,686,182 623,238,450 1,083,924,632
2013 481,517,971 560,070,547 1,041,588,518
2014 502,842,475 644,480,928 1,147,323,403
2015 520,149,847 635,549,216 1,155,699,063
2016 533,696,758 597,634,158 1,131,330,916
2017 558,205,126 594,910,567 1,153,115,693
Percent change,
2008-2017
26.8% -2.0% 10.1%

(1) Net premiums written after reinsurance transactions, excludes state funds.
(2) Premiums, annuity considerations (fees for annuity contracts) and deposit-type funds for Life/health insurance companies.

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

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