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There are three main insurance sectors: property/casualty (P/C), mainly auto, home and commercial insurance; life/annuity, mainly life insurance and annuity products; and private health insurance, written by insurers whose main business is health insurance. Life/annuity and P/C insurers can also write health coverage. In 2020 total insurance industry net premiums written fell 3.1 percent. P/C net premiums written rose 2.1 percent while life/annuity net premiums written fell 7.9 percent. Net premiums written represent premiums after reinsurance transactions.
($ 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.
(Percent change from prior year)
(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.
($000)
|
(1) Direct premiums written before 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.