Insurance Handbook

Net Premiums Written, Property/Casualty And Life/Annuities

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.

Net Premiums Written, Property/Casualty And Life/Annuity Insurance, 2012-2021

($000)

Year Property/casualty (1) Life/Annuity (2) Total
2012 $460,686,182 $622,535,116 $1,083,221,298
2013 481,517,971 560,069,272 1,041,587,243
2014 502,842,475 644,479,853 1,147,322,328
2015 520,149,847 635,549,216 1,155,699,063
2016 533,761,961 597,634,158 1,131,396,119
2017 558,261,241 594,906,580 1,153,167,821
2018 618,129,596 599,149,141 1,217,278,737
2019 639,687,416 677,311,929 1,316,999,345
2020 655,562,170 623,573,634 1,279,135,804
2021 713,970,721 635,713,933 1,349,684,654
Percent change      
2012-2021 55.0% 2.1% 24.6%
2020-2021 8.9 1.9 5.5

(1) Net 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.

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Property/Casualty And Life/Annuity Insurance Premiums, 2021 (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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Direct Premiums Written, Property/Casualty And Life/Health

Direct Premiums Written, Property/Casualty And Life/Annuity Insurance, 2012-2021

($000)

Year Property/casualty (1) Life/annuity (2) Total
2012 $523,914,193 $684,158,058 $1,208,760,295
2013 546,334,118 646,630,185 1,192,964,304
2014 570,782,303 662,282,225 1,233,064,528
2015 591,757,789 681,077,936 1,272,835,725
2016 613,383,327 683,352,546 1,296,735,873
2017 642,531,528 691,370,484 1,333,902,012
2018 678,280,917 732,088,541 1,410,369,458
2019 712,471,198 759,239,446 1,471,710,645
2020 729,023,841 767,019,961 1,496,043,802
2021 797,750,913 818,635,186 1,616,386,100
Percent change      
2012-2021 52.3% 19.7% 33.8%
2020-2021 9.4 6.7 8.0

(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.

View Archived Tables