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Homeowners Insurance Industry Underwriting Expenses, 2023 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 84.5%
    Incurred losses 75.5
    Defense and cost containment expenses incurred 1.7
    Adjusting and other expenses incurred 7.3
Operating expenses (3)  
Expense ratio 26.1%
    Net commissions and brokerage expenses incurred 11.8
    Taxes, licenses and fees 2.7
    Other acquisition and field supervision expenses incurred 6.6
    General expenses incurred 5.0
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 110.9%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($119.9 billion in 2023).
(3) As a percent of net premiums written ($128.0 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.

Homeowners Insurance Industry Underwriting Expenses, 2022 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 77.2%
    Incurred losses 68.1
    Defense and cost containment expenses incurred 1.8
    Adjusting and other expenses incurred 7.3
Operating expenses (3)  
Expense ratio 26.5%
    Net commissions and brokerage expenses incurred 12.1
    Taxes, licenses and fees 2.5
    Other acquisition and field supervision expenses incurred 7.1
    General expenses incurred 4.6
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 104.0%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($108.8 billion in 2022).
(3) As a percent of net premiums written ($114.9 billion in 2022).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded numbers.

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

Homeowners Insurance Industry Underwriting Expenses, 2022 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 77.2%
    Incurred losses 68.1
    Defense and cost containment expenses incurred 1.8
    Adjusting and other expenses incurred 7.3
Operating expenses (3)  
Expense ratio 26.5%
    Net commissions and brokerage expenses incurred 12.1
    Taxes, licenses and fees 2.5
    Other acquisition and field supervision expenses incurred 7.1
    General expenses incurred 4.6
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 104.0%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($108.8 billion in 2022).
(3) As a percent of net premiums written ($114.9 billion in 2022).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded numbers.

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

Homeowners Insurance Industry Underwriting Expenses, 2021 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 76.0%
    Incurred losses 67.0
    Defense and cost containment expenses incurred 1.9
    Adjusting and other expenses incurred 7.0
Operating expenses (3)  
Expense ratio 27.9%
    Net commissions and brokerage expenses incurred 12.1
    Taxes, licenses and fees 2.6
    Other acquisition and field supervision expenses incurred 7.8
    General expenses incurred 5.4
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 104.3%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($99.5 billion in 2021).
(3) As a percent of net premiums written ($104.2 billion in 2021).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded numbers.

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

Homeowners Insurance Industry Underwriting Expenses, 2020 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 77.0%
    Incurred losses 67.5
    Defense and cost containment expenses incurred 1.8
    Adjusting and other expenses incurred 7.7
Operating expenses (3)  
Expense ratio 28.3%
    Net commissions and brokerage expenses incurred 12.3
    Taxes, licenses and fees 2.5
    Other acquisition and field supervision expenses incurred 7.9
    General expenses incurred 5.6
Dividends to policyholders (2) 0.5%
Combined ratio after dividends (4) 105.9%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($94.6 billion in 2020).
(3) As a percent of net premiums written ($97.0 billion in 2020).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded numbers.

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

Homeowners Insurance Industry Losses And Underwriting Expenses, 2019 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 68.7%
    Incurred losses 59.8
    Defense and cost containment expenses incurred 1.7
    Adjusting and other expenses incurred 7.1
Operating expenses (3)  
Expense ratio 28.6%
    Net commissions and brokerage expenses incurred 12.3
    Taxes, licenses and fees 2.6
    Other acquisition and field supervision expenses incurred 8.2
    General expenses incurred 5.5
Dividends to policyholders (2) 0.6%
Combined ratio after dividends (4) 97.9%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($90.5 billion in 2019).
(3) As a percent of net premiums written ($93.0 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.

Homeowners Insurance Industry Losses And Underwriting Expenses, 2018 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 73.9%
    Incurred losses 65.1
    Defense and cost containment expenses incurred 1.7
    Adjusting and other expenses incurred 7.1
Operating expenses (3)  
Expense ratio 28.7%
    Net commissions and brokerage expenses incurred 12.6
    Taxes, licenses and fees 2.7
    Other acquisition and field supervision expenses incurred 8.2
    General expenses incurred 5.3
Dividends to policyholders (2) 0.5%
Combined ratio after dividends (4) 103.0%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($86.3 billion in 2018).
(3) As a percent of net premiums written ($88.9 billion in 2018).
(4) Sum of loss and LAE, expense and dividends ratios.

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

Homeowners Insurance Industry Underwriting Expenses, 2017 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 78.8%
    Incurred losses 69.0
    Defense and cost containment expenses incurred 1.7
    Adjusting and other expenses incurred 8.1
Operating expenses (3)  
Expense ratio 28.9%
    Net commissions and brokerage expenses incurred 12.3
    Taxes, licenses and fees 2.6
    Other acquisition and field supervision expenses incurred 8.5
    General expenses incurred 5.5
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 108.1%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($81.8 billion in 2017).
(3) As a percent of net premiums written ($82.8 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

Homeowners Insurance Industry Underwriting Expenses, 2016 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 63.8%
    Incurred losses 54.8
    Defense and cost containment expenses incurred 1.6
    Adjusting and other expenses incurred 7.4
Operating expenses (3)  
Expense ratio 28.9%
    Net commissions and brokerage expenses incurred 12.3
    Taxes, licenses and fees 2.6
    Other acquisition and field supervision expenses incurred 8.8
    General expenses incurred 5.3
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 93.1%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($81.1 billion in 2016).
(3) As a percent of net premiums written ($81.2 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.

Homeowners Insurance Industry Underwriting Expenses, 2015 (1)

Expense Percent of premiums
Losses and related expenses (2)  
Loss and loss adjustment expense (LAE) ratio 61.6%
    Incurred losses 52.5
    Defense and cost containment expenses incurred 1.5
    Adjusting and other expenses incurred 7.5
Operating expenses (3)  
Expense ratio 29.1%
    Net commissions and brokerage expenses incurred 12.6
    Taxes, licenses and fees 2.6
    Other acquisition and field supervision expenses incurred 8.6
    General expenses incurred 5.3
Dividends to policyholders (2) 0.5%
Combined ratio after dividends (4) 91.3%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($78.6 billion in 2015).
(3) As a percent of net premiums written ($79.9 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.

HOMEOWNERS INSURANCE INDUSTRY UNDERWRITING EXPENSES, 2014 (1)

Expense Percent of premiums
LOSSES AND RELATED EXPENSES (2)  
Loss and loss adjustment expense (LAE) ratio 62.1%
    Incurred losses 53.0
    Defense and cost containment expenses incurred 1.6
    Adjusting and other expenses incurred 7.4
OPERATING EXPENSES (3)  
Expense ratio 29.0%
    Net commissions and brokerage expenses incurred 12.7
    Taxes, licenses and fees 2.6
    Other acquisition and field supervision expenses incurred 8.5
    General expenses incurred 5.2
DIVIDENDS TO POLICYHOLDERS (2) 0.5%
COMBINED RATIO AFTER DIVIDENDS (4) 91.6%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($75.3 billion in 2014).
(3) As a percent of net premiums written ($77.9 billion in 2014).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: SNL Financial LC.

HOMEOWNERS INSURANCE INDUSTRY UNDERWRITING EXPENSES, 2013 (1)

Expense Percent of premiums
LOSSES AND RELATED EXPENSES (2)  
Loss and loss adjustment expense (LAE) ratio 59.6%
    Incurred losses 50.5
    Defense and cost containment expenses incurred 1.5
    Adjusting and other expenses incurred 7.6
OPERATING EXPENSES (3)  
Expense ratio 29.5%
    Net commissions and brokerage expenses incurred 12.6
    Taxes, licenses and fees 2.7
    Other acquisition and field supervision expenses incurred 9.0
    General expenses incurred 5.2
DIVIDENDS TO POLICYHOLDERS (2) 0.5%
COMBINED RATIO AFTER DIVIDENDS (4) 89.6%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($70.3 billion in 2013).
(3) As a percent of net premiums written ($72.8 billion in 2013).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: SNL Financial LC.

HOMEOWNERS INSURANCE INDUSTRY UNDERWRITING EXPENSES, 2012 (1)

Expense Percent of premiums
LOSSES AND RELATED EXPENSES (2)  
Loss and loss adjustment expense (LAE) ratio 72.8%
    Incurred losses 62.6
    Defense and cost containment expenses incurred 1.7
    Adjusting and other expenses incurred 8.5
OPERATING EXPENSES (3)  
Expense ratio 29.7%
    Net commissions and brokerage expenses incurred 12.6
    Taxes, licenses and fees 2.7
    Other acquisition and field supervision expenses incurred 9.1
    General expenses incurred 5.3
DIVIDENDS TO POLICYHOLDERS (2) 0.5%
COMBINED RATIO AFTER DIVIDENDS (4) 103.0%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($65.7 billion in 2012).
(3) As of percent of net premiums written ($67.8 billion in 2012).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: SNL Financial LC.