Property/Casualty Insurance Industry Income Analysis, 2017-2021

($ billions)

  2017 2018 2019 2020 2021
Net premiums written  $558.4 $618.3 $639.5 $655.5 $715.4
     Percent change 4.6% 10.7% 3.4% 2.5% 9.1%
Premiums earned  $546.4 $599.7 $627.3 $642.7 $690.2
Losses and loss adjustment expenses incurred 414.7 428.3 445.6 450.8 500.6
Other underwriting expenses 151.1 167.7 172.5 179.3 188.8
Policyholder dividends 3.3 3.7 4.9 7.7 4.6
Net underwriting gain/loss -20.8 2.6 7.8 11.9 -0.4
Net investment income 49.7 57.0 56.3 53.4 56.0
Miscellaneous income/loss -9.0 -2.4 -2.5 -1.9 0.5
Operating income 20.2 57.3 60.5 59.0 54.6
Realized capital gain 19.6 10.7 11.0 10.4 17.9
Federal income tax -0.8 7.2 8.5 8.7 9.1
Net income after taxes 40.6 60.8 63.1 60.7 63.4
Source: NAIC data, sourced from S&P Global Market Intelligence; Insurance Information Institute.