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Private Passenger Auto Insurance Industry Underwriting Expenses, 2023 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 85.0%
    Incurred losses 75.2
    Defense and cost containment expenses incurred 2.3
    Adjusting and other expenses incurred 7.5
Operating expenses (3)  
Expense ratio 19.6%
    Net commissions and brokerage expenses incurred 7.4
    Taxes, licenses and fees 2.2
    Other acquisition and field supervision expenses incurred 5.5
    General expenses incurred 4.5
Dividends to policyholders (2) 0.3%
Combined ratio after dividends (4) 104.9%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($294.0 billion in 2023).
(3) As a percent of net premiums written ($306.6 billion in 2023).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Private Passenger Auto Insurance Industry Underwriting Expenses, 2019 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 75.5%
    Incurred losses 64.6
    Defense and cost containment expenses incurred 2.8
    Adjusting and other expenses incurred 8.0
Operating expenses (3)  
Expense ratio 22.7%
    Net commissions and brokerage expenses incurred 8.6
    Taxes, licenses and fees 2.1
    Other acquisition and field supervision expenses incurred 7.3
    General expenses incurred 4.7
Dividends to policyholders (2) 0.6%
Combined ratio after dividends (4) 98.7%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($245.7 billion in 2019).
(3) As a percent of net premiums written ($247.7 billion in 2019).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Private Passenger Auto Insurance Industry Losses And Underwriting Expenses, 2018 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 74.5%
    Incurred losses 63.6
    Defense and cost containment expenses incurred 2.7
    Adjusting and other expenses incurred 8.3
Operating expenses (3)  
Expense ratio 22.8%
    Net commissions and brokerage expenses incurred 8.8
    Taxes, licenses and fees 2.1
    Other acquisition and field supervision expenses incurred 7.2
    General expenses incurred 4.7
Dividends to policyholders (2) 0.5%
Combined ratio after dividends (4) 97.8%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($236.6 billion in 2018).
(3) As a percent of net premiums written ($240.9 billion in 2018).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence.

Private Passenger Auto Insurance Industry Underwriting Expenses, 2017 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 79.5%
    Incurred losses 67.9
    Defense and cost containment expenses incurred 2.6
    Adjusting and other expenses incurred 9.0
Operating expenses (3)  
Expense ratio 22.8%
    Net commissions and brokerage expenses incurred 8.5
    Taxes, licenses and fees 2.1
    Other acquisition and field supervision expenses incurred 7.2
    General expenses incurred 5.0
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 102.7%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($217.4 billion in 2017).
(3) As a percent of net premiums written ($222.2 billion in 2017).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Private Passenger Auto Insurance Industry Underwriting Expenses, 2016 (1)

Expense Percent of
premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 82.4%
    Incurred losses 70.3
    Defense and cost containment expenses incurred 2.6
    Adjusting and other expenses incurred 9.5
Operating expenses (3)  
Expense ratio 23.4%
    Net commissions and brokerage expenses incurred 8.7
    Taxes, licenses and fees 2.1
    Other acquisition and field supervision expenses incurred 7.5
    General expenses incurred 5.1
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 106.3%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($204.8 billion in 2016).
(3) As a percent of net premiums written ($207.4 billion in 2016).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Private Passenger Auto Insurance Industry Underwriting Expenses, 2015 (1)

Expense Percent of premiums
Losses And Related Expenses (2)  
Loss and loss adjustment expense (LAE) ratio 79.8%
    Incurred losses 67.5
    Defense and cost containment expenses incurred 2.7
    Adjusting and other expenses incurred 9.6
Operating Expenses (3)  
Expense ratio 24.3%
    Net commissions and brokerage expenses incurred 8.9
    Taxes, licenses and fees 2.1
    Other acquisition and field supervision expenses incurred 7.9
    General expenses incurred 5.3
Dividends To Policyholders (2) 0.5%
Combined Ratio After Dividends (4) 104.6%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($189.2 billion in 2015).
(3) As a percent of net premiums written ($192.8 billion in 2015).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

PRIVATE PASSENGER AUTO INSURANCE INDUSTRY UNDERWRITING EXPENSES, 2014 (1)

Expense Percent of premiums
LOSSES AND RELATED EXPENSES (2)  
Loss and loss adjustment expense (LAE) ratio 77.4%
    Incurred losses 65.0
    Defense and cost containment expenses incurred 2.8
    Adjusting and other expenses incurred 9.6
OPERATING EXPENSES (3)  
Expense ratio 24.5%
    Net commissions and brokerage expenses incurred 8.9
    Taxes, licenses and fees 2.2
    Other acquisition and field supervision expenses incurred 8.1
    General expenses incurred 5.3
DIVIDENDS TO POLICYHOLDERS (2) 0.5%
COMBINED RATIO AFTER DIVIDENDS (4) 102.4%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($180.6 billion in 2014).
(3) As a percent of net premiums written ($183.4 billion in 2014).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: SNL Financial LC.

PRIVATE PASSENGER AUTO INSURANCE INDUSTRY UNDERWRITING EXPENSES, 2013 (1)

Expense Percent of premiums
LOSSES AND RELATED EXPENSES (2)  
Loss and loss adjustment expense (LAE) ratio 76.1%
    Incurred losses 63.5
    Defense and cost containment expenses incurred 2.8
    Adjusting and other expenses incurred 9.8
OPERATING EXPENSES (3)  
Expense ratio 25.0%
    Net commissions and brokerage expenses incurred 8.2
    Taxes, licenses and fees 2.3
    Other acquisition and field supervision expenses incurred 8.8
    General expenses incurred 5.8
DIVIDENDS TO POLICYHOLDERS (2) 0.6%
COMBINED RATIO AFTER DIVIDENDS (4) 101.7%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($172.5 billion in 2013).
(3) As a percent of net premiums written ($174.9 billion in 2013).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: SNL Financial LC.