Property/Casualty Insurance Industry Income Analysis, 2018-2022

($ billions)

  2018 2019 2020 2021 2022
Net premiums written  $618.3 $639.9 $655.8 $715.7 $775.1
     Percent change 10.7% 3.5% 2.5% 9.1% 8.3%
Premiums earned  $599.8 $627.7 $643.0 $689.8 $745.8
Losses and loss adjustment expenses incurred 428.2 446.0 451.0 500.6 567.6
Other underwriting expenses 167.6 172.6 179.4 188.5 199.0
Policyholder dividends 3.7 4.9 7.7 4.6 3.2
Net underwriting gain/loss 3.1 7.9 12.1 -0.3 -22.4
Net investment income 57.0 56.5 53.5 56.1 71.3
Miscellaneous income/loss -2.4 -2.5 -1.9 0.1 -1.6
Operating income 57.7 60.9 59.3 54.7 47.8
Realized capital gain 10.7 11.0 10.7 17.5 -3.5
Federal income tax 7.3 8.5 8.7 9.1 6.1
Net income after taxes 61.1 63.4 61.3 63.2 38.2
Source: NAIC data, sourced from S&P Global Market Intelligence; Insurance Information Institute.