Components Of The Combined Ratio, Property/Casualty Insurance, 2011-2020 (1)

 

Year Loss and loss adjustment expense ratio (2) Expense ratio (3) Combined ratio Dividends to policyholders (4) Combined ratio after dividends
2011 79.5 28.4 107.8 0.5 108.3
2012 74.3 28.2 102.6 0.6 103.2
2013 67.5 28.2 95.7 0.6 96.4
2014 69.0 27.6 96.6 0.6 97.2
2015 69.3 28.0 97.4 0.6 97.9
2016 72.3 27.9 100.2 0.6 100.8
2017 75.9 27.3 103.2 0.6 103.8
2018 71.4 27.2 98.6 0.6 99.3
2019 71.0 27.2 98.2 0.8 99.0
2020 70.1 27.4 97.6 1.2 98.8
(1) Excludes state funds and other residual market insurers. (2) Incurred loss and loss adjustment expenses as a percent of earned premiums. (3) Other underwriting expenses as a percent of written premiums. (4) Dividends to policyholders as a percent of earned premiums. Source: NAIC data, sourced from S&P Global market Intelligence, Insurance Information Institute.