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Direct premiums written represent premium amounts before reinsurance transactions. This contrasts with charts based on net premiums written, i.e., premium amounts after reinsurance transactions.
($000)
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(1) Before reinsurance transactions, includes state funds, excludes territories.
(2) Data for the total United States may differ from similar data shown elsewhere due to the use of different exhibits from S&P Global Market Intelligence.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
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(1) Excludes territories. Excludes health insurers, risk retention groups, fraternals, title and other insurers.
Source: 2021 Insurance Department Resources Report, published by the National Association of Insurance Commissioners (NAIC). Reprinted with permission. Further reprint or redistribution strictly prohibited without written permission of NAIC.
($000)
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(1) Before reinsurance transactions, includes state funds, excludes territories.
(2) Data for the total United States may differ from similar data shown elsewhere due to the use of different exhibits from S&P Global Market Intelligence.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
($000)
|
(1) Before reinsurance transactions, includes state funds, excludes territories.
(2) Data for the total United States may differ from similar data shown elsewhere due to the use of different exhibits from S&P Global Market Intelligence.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
Premiums can be accounted for in two major ways: net premiums written, which reflect premium amounts after deductions for reinsurance and direct premiums written, which are calculated before reinsurance transactions.
The property/casualty (P/C) insurance industry is divided into two main segments: personal lines and commercial lines. Personal lines include coverage for individuals, mainly auto and homeowners. Commercial lines include the many kinds of insurance products designed for businesses. In 2020 private passenger auto insurance was the largest line of insurance, based on net premiums written, making up 37 percent of all P/C insurance (commercial and personal combined) and 72 percent of personal lines insurance. Homeowners multiple peril insurance is the second largest line, accounting for 15 percent of total P/C insurance and 28 percent of personal lines. Other liability (coverages that protect against legal liability resulting from negligence, carelessness or failure to act) is the largest commercial line and third-largest P/C line. It represented 11 percent of all P/C net premiums and 22 percent of all commercial premiums.
($ billions)
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
($ millions)
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(1) After reinsurance transactions, excludes state funds.
(2) Coverages protecting against legal liability resulting from negligence, carelessness or failure to act.
(3) Only includes nonproportional reinsurance, an arrangement in which a reinsurer makes payments to an insurer whose losses exceed a predetermined amount.
(4) Premiums from certain insurers that write health insurance but file financial statements with state regulators on a property/casualty basis.
(5) Includes miscellaneous coverages.
(6) Less than 0.1 percent.
(7) Provided by FEMA through participating private insurers.
(8) May not match total premiums shown elsewhere in this book because of the use of different exhibits from SNL Financial LC.
NA=Data not available.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
($000)
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(1) Includes some state funds.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
($000)
|
(1) Includes some state funds.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
($000)
|
(1) Includes some state funds.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
($000)
|
(1) Includes some state funds.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
($000)
|
(1) Includes some state funds.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.
All insurance companies pay a state tax based on their premiums. Other payments are made to states for licenses and fees, income and property taxes, sales and use taxes, unemployment compensation taxes and franchise taxes.
Premium Taxes By State, Property/Casualty, Life/Annuity and Health Insurers, 2021 (1)
($000)
(1) Includes other insurance companies. Data are for each state's fiscal year. Source: U.S. Department of Commerce, Bureau of the Census. |
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