Property/Casualty Insurance Industry Income Analysis, 2016-2020

($ billions)

  2016 2017 2018 2019 2020
Net premiums written  $534.0 $558.4 $618.3 $639.5 $655.5
     Percent change 2.6% 4.6% 10.7% 3.4% 2.5%
Premiums earned  $529.2 $546.4 $599.7 $627.3 $642.7
Losses and loss adjustment expenses incurred 382.5 414.7 428.3 445.6 450.8
Other underwriting expenses 148.0 151.1 167.7 172.5 179.3
Policyholder dividends 2.9 3.3 3.7 4.9 7.7
Net underwriting gain/loss -2.4 -20.8 2.6 7.8 11.9
Net investment income 47.5 49.7 57.0 56.3 53.4
Miscellaneous income/loss -2.4 -9.0 -2.4 -2.5 -1.9
Operating income 43.1 20.2 57.3 60.5 59.0
Realized capital gain 8.5 19.6 10.7 11.0 10.4
Federal income tax 7.3 -0.8 7.2 8.5 8.7
Net income after taxes 44.3 40.6 60.8 63.1 60.7
Source: NAIC data, sourced from S&P Global Market Intelligence; Insurance Information Institute.