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U.S. Insurance Industry: All Sectors

Net Premiums Written, Property/Casualty And Life/Annuities

There are three main insurance sectors: property/casualty (P/C), mainly auto, home and commercial insurance; life/annuity, mainly life insurance and annuity products; and private health insurance, written by insurers whose main business is health insurance. Life/annuity and P/C insurers can also write health coverage.

Net Premiums Written, Property/Casualty And Life/Annuity Insurance, 2014-2023

($000)

Year Property/casualty (1) Life/annuity (2) Total
2014 $502,578,473 $644,479,853 $1,147,058,326
2015 520,047,073 635,549,216 1,155,596,289
2016 533,744,458 597,634,158 1,131,378,616
2017 558,157,401 594,906,580 1,153,063,981
2018 617,931,313 599,149,141 1,217,080,454
2019 639,336,652 684,834,322 1,324,170,974
2020 655,589,295 629,241,674 1,284,830,969
2021 715,937,546 641,025,386 1,356,962,932
2022 776,693,264 709,057,636 1,485,750,900
2023 857,326,020 683,536,790 1,540,862,810
Percent change      
2014-2023 70.6% 6.1% 34.3%
2022-2023 10.4 -3.6 3.7

(1) Net premiums written before reinsurance transactions, excludes state funds, includes accident and health insurance.
(2) Includes premiums, annuity considerations (fees for annuity contracts), deposit-type funds and accident and health insurance.

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

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Property/Casualty And Life/Annuity Insurance Premiums, 2023 (1)

(US$ billions)

(1) Property/casualty: net premiums written after reinsurance transactions, excludes state funds; life/annuity: premiums, annuity considerations (fees for annuity contracts) and deposit-type funds. Both sectors include accident and health insurance.

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

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Direct Premiums Written, Property/Casualty And Life/Health

Direct Premiums Written, Property/Casualty and Life/Annuity Insurance, 2014-2023

($000)

Year Property/casualty (1) Life/annuity (2) Total
2014 $570,782,303 $662,282,225 $1,233,064,528
2015 591,757,789 681,077,936 1,272,835,725
2016 613,383,327 683,352,546 1,296,735,873
2017 642,531,528 691,370,484 1,333,902,012
2018 678,266,386 732,088,541 1,410,354,927
2019 712,471,198 768,019,838 1,480,491,036
2020 729,019,771 773,650,404 1,502,670,175
2021 797,777,836 827,717,052 1,625,494,888
2022 876,144,640 890,589,421 1,766,734,061
2023 964,228,838 942,921,199 1,907,150,037
Percent change      
2013 to 2023 68.9% 42.4% 54.7%
2022 to 2023 10.1% 5.9% 7.9%

(1) Direct premiums written before reinsurance transactions, excludes state funds, includes accident and health insurance.
(2) Includes premiums, annuity considerations (fees for annuity contracts), deposit-type funds and accident and health insurance.

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

View Archived Tables