Current Table

Annual Rate Of Return: Net Income After Taxes As A Percent Of Equity, 2009-2018

 

  Property/casualty (1) Life/annuity Selected other industries (2)  
Year Statutory
accounting (3)
GAAP
accounting (4)
Life/annuity
insurance (5)
Healthcare
insurance (6)
Diversified
financial (7)
Commercial
banks
Electric and
gas utilities
Fortune 500
combined
industrials
and service (8)
2009 5.9% 5.0% 4.0% 14.0% 9.0% 4.0% 9.0% 10.5%
2010 6.6 5.6 7.0 12.0 10.0 8.0 10.0 12.7
2011 3.5 3.0 8.0 15.0 12.0 8.0 10.0 14.5
2012 6.1 5.3 7.0 12.0 18.0 9.0 8.0 15.0
2013 10.2 8.9 7.0 13.0 18.0 9.0 9.0 13.7
2014 8.4 7.5 9.0 12.0 22.0 9.0 10.0 14.2
2015 8.4 7.4 8.0 12.0 22.0 8.0 9.0 13.3
2016 6.2 5.5 7.0 11.0 14.0 8.0 9.0 12.9
2017 5.0 (9) 9.0 15.0 14.0 9.0 10.0 14.1
2018 8.0 NA 6.0 12.0 20.0 12.0 10.0 14.5

(1) Excludes state funds for workers compensation and other residual market carriers.
(2) Return on equity on a GAAP accounting basis, Fortune.
(3) Statutory net income after taxes, divided by the average of current and prior year-end policyholders’ surplus. Calculated by ISO. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(4) Estimated from statutory data. Equals GAAP net income divided by the average of current and prior-year-end GAAP net worth. Calculated by ISO.
(5) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(6) Healthcare insurance and managed care.
(7) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(8) Fortune 500 Combined Industrial and Service Businesses median return on shareholders' equity.
(9) Data not available from ISO due to the uncertainties associated with the implementation of the Tax Cuts and Jobs Act of 2017.

NA=Data not available.

Source: ISO®, a Verisk Analytics business®; Fortune.

 
ANNUAL RATE OF RETURN: NET INCOME AFTER TAXES AS A PERCENT OF EQUITY, 1999-2008
  Property/casualty
insurance
  Selected other industries (1)  
Year Statutory
accounting (2)
  
GAAP accounting (3) Life/health insurance (4) Diversified financial (5) Commercial banks Electric
and gas utilities
Fortune 500
 combined
industrials
 and service (6)
1999 6.9% 6.0% 13.0% 21.0% 18.0% 11.9% 15.2%
2000 6.8 5.9 10.0 21.3 16.7 11.8 14.6
2001 -1.8 -1.2 7.0 19.3 14.0 10.5 10.4
2002 3.3 2.1 1.0 19.5 17.3 7.9 10.2
2003 8.5 8.8 9.0 19.5 14.9 10.5 12.6
2004 9.3 9.4 11.0 15.0 15.5 10.5 13.9
2005 10.7 9.6 13.0 15.0 16.0 10.0 14.9
2006 13.3 12.7 12.0 15.0 15.0 11.0 15.4
2007 11.8 10.9 11.0 -1.0 11.0 11.0 15.2
2008 1.0  0.3  1.0 8.0 3.0 13.0 13.1

(1) Return on equity on a GAAP accounting basis, Fortune.
(2) Net income after taxes, divided by year-end policyholders’ surplus. Calculated by the Insurance Information Institute from Highline Data, LLC. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(3) Return on average net worth, ISO.
(4) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(5) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(6) Fortune 500 Combined Industrial and Service Businesses median return on equity.

Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.; ISO; Fortune.

 
ANNUAL RATE OF RETURN: NET INCOME AFTER TAXES AS A PERCENT OF EQUITY, 2000-2009
  Property/casualty
insurance
  Selected other industries (1)  
Year Statutory
accounting (2)
GAAP
accounting (3)
Life/health
insurance (4)
Diversified
financial (5)
Commercial
banks
Electric
and
gas utilities
Fortune 500
combined
industrials
and service (6)
2000 6.2% 5.9% 10.0% 21.3% 16.7% 11.8% 14.6%
2001 -2.0 -1.2 7.0 19.3 14.0 10.5 10.4
2002 3.0 2.1 1.0 19.5 17.3 7.9 10.2
2003 8.3 8.8 9.0 19.5 14.9 10.5 12.6
2004 9.7 9.4 11.0 15.0 15.5 10.5 13.9
2005 10.9 9.6 13.0 15.0 16.0 10.0 14.9
2006 14.2 12.7 12.0 15.0 15.0 11.0 15.4
2007 12.0 10.9 11.0 -1.0 11.0 11.0 15.2
2008 0.8 0.1 1.0 8.0 3.0 13.0 13.1
2009 6.2 4.7 4.0 9.0 4.0 9.0 10.5

(1) Return on equity on a GAAP accounting basis, Fortune.
(2) Net income after taxes, divided by year-end policyholders’ surplus. Calculated by the Insurance Information Institute from SNL Financial LC data. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(3) Return on average net worth, ISO.
(4) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(5) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(6) Fortune 500 Combined Industrial and Service Businesses median return on equity.

Source: SNL Financial LC; ISO; Fortune.

 
ANNUAL RATE OF RETURN: NET INCOME AFTER TAXES AS A PERCENT OF EQUITY, 2001-2010
  Property/casualty
insurance
Life/health Selected other industries (1)  
Year Statutory accounting (2) GAAP accounting (3) Life/health insurance (4) Healthcare insurance (5) Diversified financial (6) Commercial banks Electric and gas utilities Fortune 500 combined industrials and service (7)
2001 -2.0% -1.2% 7.0% NA 19.3% 14.0% 10.5% 10.4%
2002 3.0 2.1 1.0 NA 19.5 17.3 7.9 10.2
2003 8.5 8.8 9.0 NA 19.5 14.9 10.5 12.6
2004 9.7 9.4 11.0 NA 15.0 15.5 10.5 13.9
2005 10.8 9.6 13.0 16.2% 15.0 16.0 10.0 14.9
2006 13.4 12.7 12.0 19.0 15.0 15.0 11.0 15.4
2007 12.0 10.9 11.0 19.0 -1.0 11.0 11.0 15.2
2008 0.8 0.1 1.0 11.0 8.0 3.0 13.0 13.1
2009 6.2 5.0 4.0 14.0 9.0 4.0 9.0 10.5
2010 6.7 5.6 7.0 12.0 10.0 8.0 10.0 12.7

(1) Return on equity on a GAAP accounting basis, Fortune.
(2) Net income after taxes, divided by year-end policyholders’ surplus. Calculated by the Insurance Information Institute from SNL Financial LC data. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(3) Return on average net worth, ISO.
(4) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(5) Healthcare insurance and managed care.
(6) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(7) Fortune 500 Combined Industrial and Service Businesses median return on shareholders' equity.

NA=Data not available.

Source: SNL Financial LC; ISO, a Verisk Analytics company; Fortune.

 
ANNUAL RATE OF RETURN: NET INCOME AFTER TAXES AS A PERCENT OF EQUITY, 2002-2011
  Property/casualty
insurance
Life/health Selected other industries (1)  
Year Statutory
accounting (2)
GAAP
accounting (3)
Life/health
insurance (4)
Healthcare
insurance (5)
Diversified
financial (6)
Commercial
banks
Electric
and gas
utilities
Fortune 500
combined
industrials
and service (7)
2002 1.1% 2.1% 1.0% NA 19.5% 17.3% 7.9% 10.2%
2003 9.5 8.8 9.0 NA 19.5 14.9 10.5 12.6
2004 10.7 9.4 11.0 NA 15.0 15.5 10.5 13.9
2005 10.8 9.6 13.0 16.2% 15.0 16.0 10.0 14.9
2006 14.4 12.7 12.0 19.0 15.0 15.0 11.0 15.4
2007 12.4 10.9 11.0 19.0 -1.0 11.0 11.0 15.2
2008 0.6 0.1 1.0 11.0 8.0 3.0 13.0 13.1
2009 5.9 5.0 4.0 14.0 9.0 4.0 9.0 10.5
2010 6.6 5.6 7.0 12.0 10.0 8.0 10.0 12.7
2011 3.4 2.7 8.0 15.0 12.0 8.0 10.0 14.5

(1) Return on equity on a GAAP accounting basis, Fortune.
(2) Net income after taxes, divided by year-end policyholders’ surplus. Calculated by the Insurance Information Institute from SNL Financial data. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(3) Return on average net worth, ISO.
(4) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(5) Healthcare insurance and managed care, Fortune.
(6) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(7) Fortune 500 Combined Industrial and Service Businesses median return on shareholders' equity.

NA=Data not available.

Source: SNL Financial LC; ISO, a Verisk Analytics company; Fortune.

 
ANNUAL RATE OF RETURN: NET INCOME AFTER TAXES AS A PERCENT OF EQUITY, 2004-2013

 

  Property/casualty (1) Life/health Selected other industries (2)  
Year Statutory
accounting (3)
GAAP
accounting (4)
Life/health
insurance (5)
Healthcare
insurance (6)
Diversified
financial (7)
Commercial
banks
Electric and
gas utilities
Fortune 500
combined
industrials
and service (8)
2004 10.4% 9.4% 11.0% NA 15.0% 15.5% 10.5% 13.9%
2005 10.8 9.6 13.0 16.2% 15.0 16.0 10.0 14.9
2006 14.4 12.7 12.0 19.0 15.0 15.0 11.0 15.4
2007 12.4 10.9 11.0 19.0 -1.0 11.0 11.0 15.2
2008 0.6 0.1 1.0 11.0 8.0 3.0 13.0 13.1
2009 5.9 5.0 4.0 14.0 9.0 4.0 9.0 10.5
2010 6.6 5.6 7.0 12.0 10.0 8.0 10.0 12.7
2011 3.5 3.0 8.0 15.0 12.0 8.0 10.0 14.5
2012 6.1 5.3 7.0 12.0 18.0 9.0 8.0 15.0
2013 10.3 9.0 7.0 13.0 18.0 9.0 9.0 13.7

(1) Excludes state funds for workers compensation and other residual market carriers.
(2) Return on equity on a GAAP accounting basis, Fortune.
(3) Statutory net income after taxes, divided by the average of current and prior year-end policyholders’ surplus. Calculated by ISO. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(4) Estimated from statutory data. Equals GAAP net income divided by the average of current and prior year-end GAAP net worth. Calculated by ISO.
(5) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(6) Healthcare insurance and managed care.
(7) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(8) Fortune 500 Combined Industrial and Service Businesses median return on shareholders' equity.

NA=Data not available.

Source: ISO®, a Verisk Analytics® company; Fortune.

 
ANNUAL RATE OF RETURN: NET INCOME AFTER TAXES AS A PERCENT OF EQUITY, 2005-2014

 

  Property/casualty (1) Life/health   Selected other industries (2)  
Year Statutory
accounting (3)
GAAP
accounting (4)
Life/health
insurance (5)
Healthcare
insurance (6)
Diversified
financial (7)
Commercial
banks
Electric
and
gas
utilities
Fortune 500
combined
industrials
and service (8)
2005 10.8% 9.6% 13.0% 16.2% 15.0% 16.0% 10.0% 14.9%
2006 14.4 12.7 12.0 19.0 15.0 15.0 11.0 15.4
2007 12.4 10.9 11.0 19.0 -1.0 11.0 11.0 15.2
2008 0.6 0.1 1.0 11.0 8.0 3.0 13.0 13.1
2009 5.9 5.0 4.0 14.0 9.0 4.0 9.0 10.5
2010 6.6 5.6 7.0 12.0 10.0 8.0 10.0 12.7
2011 3.5 3.0 8.0 15.0 12.0 8.0 10.0 14.5
2012 6.1 5.3 7.0 12.0 18.0 9.0 8.0 15.0
2013 10.2 8.9 7.0 13.0 18.0 9.0 9.0 13.7
2014 8.4 7.5 9.0 12.0 22.0 9.0 10.0 14.2

(1) Excludes state funds for workers compensation and other residual market carriers.
(2) Return on equity on a GAAP accounting basis, Fortune.
(3) Statutory net income after taxes, divided by the average of current and prior year-end policyholders’ surplus. Calculated by ISO. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(4) Estimated from statutory data. Equals GAAP net income divided by the average of current and prior-year-end GAAP net worth. Calculated by ISO.
(5) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(6) Healthcare insurance and managed care.
(7) Companies whose major source of revenue comes from providing diversified financial services. These companies are not
specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(8) Fortune 500 Combined Industrial and Service Businesses median return on shareholders' equity.

Source: SNL Financial LC; ISO®, a Verisk Analytics® business; Fortune.

 
Annual Rate Of Return: Net Income After Taxes As A Percent Of Equity, 2006-2015
  Property/casualty (1) Life/health Selected other industries (2)  
Year Statutory
accounting (3)
GAAP
accounting (4)
Life/health
insurance (5)
Healthcare
insurance (6)
Diversified
financial (7)
Commercial
banks
Electric and
gas utilities
Fortune 500
combined
industrials
and service (8)
2006 14.4% 12.7% 12.0% 19.0% 15.0% 15.0% 11.0% 15.4%
2007 12.4 10.9 11.0 19.0 -1.0 11.0 11.0 15.2
2008 0.6 0.1 1.0 11.0 8.0 3.0 13.0 13.1
2009 5.9 5.0 4.0 14.0 9.0 4.0 9.0 10.5
2010 6.6 5.6 7.0 12.0 10.0 8.0 10.0 12.7
2011 3.5 3.0 8.0 15.0 12.0 8.0 10.0 14.5
2012 6.1 5.3 7.0 12.0 18.0 9.0 8.0 15.0
2013 10.2 8.9 7.0 13.0 18.0 9.0 9.0 13.7
2014 8.4 7.5 9.0 12.0 22.0 9.0 10.0 14.2
2015 8.4 7.4 8.0 12.0 22.0 8.0 9.0 13.3

(1) Excludes state funds for workers compensation and other residual market carriers.
(2) Return on equity on a GAAP accounting basis, Fortune.
(3) Statutory net income after taxes, divided by the average of current and prior year-end policyholders’ surplus. Calculated by ISO. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(4) Estimated from statutory data. Equals GAAP net income divided by the average of current and prior-year-end GAAP net worth. Calculated by ISO.
(5) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(6) Healthcare insurance and managed care.
(7) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(8) Fortune 500 Combined Industrial and Service Businesses median return on shareholders' equity.

Source: ISO®, a Verisk business®; Fortune.

 
Annual Rate Of Return: Net Income After Taxes As A Percent Of Equity, 2007-2016
  Property/casualty (1) Life/health Selected other industries (2)  
Year Statutory
accounting (3)
GAAP
accounting (4)
Life/health
insurance (5)
Healthcare
insurance (6)
Diversified
financial (7)
Commercial
banks
Electric and
gas utilities
Fortune 500
combined
industrials
and service (8)
2007 12.4% 10.9% 11.0% 19.0% -1.0% 11.0% 11.0% 15.2%
2008 0.6 0.1 1.0 11.0 8.0 3.0 13.0 13.1
2009 5.9 5.0 4.0 14.0 9.0 4.0 9.0 10.5
2010 6.6 5.6 7.0 12.0 10.0 8.0 10.0 12.7
2011 3.5 3.0 8.0 15.0 12.0 8.0 10.0 14.5
2012 6.1 5.3 7.0 12.0 18.0 9.0 8.0 15.0
2013 10.2 8.9 7.0 13.0 18.0 9.0 9.0 13.7
2014 8.4 7.5 9.0 12.0 22.0 9.0 10.0 14.2
2015 8.4 7.4 8.0 12.0 22.0 8.0 9.0 13.3
2016 6.2 5.5 7.0 11.0 14.0 8.0 9.0 12.9

(1) Excludes state funds for workers compensation and other residual market carriers.
(2) Return on equity on a GAAP accounting basis, Fortune.
(3) Statutory net income after taxes, divided by the average of current and prior year-end policyholders’ surplus. Calculated by ISO. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators. Data are for all private property/casualty insurers.
(4) Estimated from statutory data. Equals GAAP net income divided by the average of current and prior-year-end GAAP net worth. Calculated by ISO. Data are for all private property/casualty insurers.
(5) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(6) Healthcare insurance and managed care.
(7) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(8) Fortune 500 Combined Industrial and Service Businesses median return on shareholders' equity.

Source: ISO®, a Verisk Analytics business®; Fortune.

 
Annual Rate Of Return: Net Income After Taxes As A Percent Of Equity, 2008-2017

 

  Property/casualty (1) Life/health Selected other industries (2)  
Year Statutory
accounting (3)
GAAP
accounting (4)
Life/health
insurance (5)
Healthcare
insurance (6)
Diversified
financial (7)
Commercial
banks
Electric and
gas utilities
Fortune 500
combined
industrials
and service (8)
2008 0.6% 0.1% 1.0% 11.0% 8.0% 3.0% 13.0% 13.1%
2009 5.9 5.0 4.0 14.0 9.0 4.0 9.0 10.5
2010 6.6 5.6 7.0 12.0 10.0 8.0 10.0 12.7
2011 3.5 3.0 8.0 15.0 12.0 8.0 10.0 14.5
2012 6.1 5.3 7.0 12.0 18.0 9.0 8.0 15.0
2013 10.2 8.9 7.0 13.0 18.0 9.0 9.0 13.7
2014 8.4 7.5 9.0 12.0 22.0 9.0 10.0 14.2
2015 8.4 7.4 8.0 12.0 22.0 8.0 9.0 13.3
2016 6.2 5.5 7.0 11.0 14.0 8.0 9.0 12.9
2017 5.0 (9) 9.0 15.0 14.0 9.0 10.0 14.1

(1) Excludes state funds for workers compensation and other residual market carriers.
(2) Return on equity on a GAAP accounting basis, Fortune.
(3) Statutory net income after taxes, divided by the average of current and prior year-end policyholders’ surplus. Calculated by ISO. Statutory accounting is used by insurers when preparing the Annual Statements they submit to regulators.
(4) Estimated from statutory data. Equals GAAP net income divided by the average of current and prior-year-end GAAP net worth. Calculated by ISO.
(5) Return on equity on a GAAP accounting basis, Fortune. Combined stock and mutual companies, calculated by the Insurance Information Institute.
(6) Healthcare insurance and managed care.
(7) Companies whose major source of revenue comes from providing diversified financial services. These companies are not specifically chartered as insurance companies, banks or savings institutions, or brokerage or securities companies, but they may earn revenue from these sources.
(8) Fortune 500 Combined Industrial and Service Businesses median return on shareholders' equity.
(9) Data not available from ISO due to the uncertainties associated with the implementation of the Tax Cuts and Jobs Act of 2017.

Source: ISO®, a Verisk Analytics business®; Fortune.