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Components of the Net Combined Ratio, Property/Casualty Insurance, 2014-2023 (1)
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Year Loss and loss
adjustment
expense ratio (2)		 Expense ratio (3) Combined ratio Dividends to
policyholders (4)		 Combined ratio
after dividends
2014 69.0 27.7 96.7 0.6 97.3
2015 69.3 27.9 97.2 0.6 97.7
2016 72.3 27.7 100.0 0.6 100.6
2017 76.0 27.1 103.0 0.6 103.6
2018 71.4 27.1 98.5 0.6 99.1
2019 71.0 27.0 98.0 0.8 98.8
2020 70.2 27.3 97.5 1.2 98.7
2021 72.4 26.4 98.8 0.7 99.5
2022 76.3 25.7 102.0 0.4 102.4
2023 76.3 24.9 101.3 0.4 101.7

(1) Excludes state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

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

 

Archived Tables

COMPONENTS OF THE COMBINED RATIO, PROPERTY/CASUALTY INSURANCE, 1999-2008
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Year Loss ratio (1) Expense ratio (2) Combined ratio  Dividends to policyholders (3) Combined ratio after dividends (4)
1999 78.5 27.9 106.4 1.2 107.6
2000 81.0 27.5 108.5 1.4 109.9
2001 88.1 26.6 114.7 0.8 115.5
2002 81.0 25.4 106.4 0.6 107.0
2003 74.7 24.9 99.6 0.5 100.1
2004 72.8 25.3 98.1 0.4 98.5
2005 74.5 25.7 100.2 0.5 100.7
2006 65.2 26.4 91.6 0.8 92.4
2007 68.0 27.1 95.1 0.6 95.7
2008 77.5 27.5 105.0 0.5 105.5

(1) Losses and loss adjustment expenses incurred as a percent of net premiums earned.
(2) Expenses incurred (before federal income taxes) as a percent of net premiums written.
(3) Dividends to policyholders as a percent of net premiums earned.
(4) Based on insurers' expense exhibit and are not strictly comparable with similar data shown elsewhere.

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.

 

 

 

 
COMPONENTS OF THE COMBINED RATIO, PROPERTY/CASUALTY INSURANCE, 2000-2009
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Year Loss
ratio (1)		 Expense
ratio (2)		 Combined
ratio		 Dividend to
policyholders (3)		 Combined ratio
after dividends (4)
2000 67.8 27.9 108.7 1.4 110.1
2001 74.8 27.0 115.0 0.8 115.8
2002 68.0 25.7 106.7 0.6 107.3
2003 61.4 25.1 99.6 0.5 100.1
2004 59.8 25.4 98.0 0.4 98.5
2005 61.2 25.8 100.3 0.5 100.7
2006 53.1 26.4 91.6 0.8 92.4
2007 56.1 27.2 95.2 0.6 95.8
2008 65.6 27.5 104.9 0.5 105.4
2009 59.8 28.2 100.5 0.5 101.0

(1) Losses and loss adjustment expenses incurred as a percent of net premiums earned.
(2) Expenses incurred (before federal income taxes) as a percent of net premiums written.
(3) Dividends to policyholders as a percent of net premiums earned.
(4) Based on insurers' expense exhibit and are not strictly comparable with similar data shown elsewhere.

Source: SNL Financial LC. 

 
COMPONENTS OF THE COMBINED RATIO, PROPERTY/CASUALTY INSURANCE, 2001-2010 (1)
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Year Loss ratio (2) Expense ratio (3) Combined ratio Dividends to policyholders (4) Combined ratio after dividends
2001 88.4 26.7 115.1 0.8 115.9
2002 81.4 25.4 106.8 0.6 107.3
2003 74.7 24.9 99.6 0.5 100.1
2004 72.7 25.2 97.9 0.4 98.3
2005 74.6 25.8 100.4 0.4 100.9
2006 65.2 26.4 91.6 0.8 92.4
2007 67.7 27.3 94.9 0.6 95.5
2008 77.1 27.5 104.6 0.4 105.0
2009 72.5 28.0 100.5 0.5 101.0
2010 73.5 28.3 101.8 0.5 102.4

(1) Excluding state funds and other residual insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO, a Verisk Analytics company. 

 
COMPONENTS OF THE COMBINED RATIO, PROPERTY/CASUALTY INSURANCE, 2003-2012 (1)
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Year Loss ratio (2) Expense ratio (3) Combined ratio Dividends to policyholders (4) Combined ratio after dividends 
2003 74.7 24.9 99.6 0.5 100.1
2004 72.7 25.2 97.9 0.4 98.3
2005 74.6 25.8 100.4 0.4 100.9
2006 65.2 26.4 91.6 0.8 92.4
2007 67.7 27.3 94.9 0.6 95.5
2008 77.1 27.5 104.6 0.4 105.0
2009 72.5 28.0 100.5 0.5 101.0
2010 73.6 28.3 101.8 0.5 102.4
2011 79.3 28.4 107.7 0.4 108.1
2012 74.5 28.2 102.8 0.5 103.2

(1) Excludes state funds and other residual insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO, a Verisk Analytics company.

 
COMPONENTS OF THE COMBINED RATIO, PROPERTY/CASUALTY INSURANCE, 2004-2013 (1)
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Year Loss
ratio (2)		 Expense
ratio (3)		 Combined
ratio		 Dividends to
policyholders (4)		 Combined ratio
after dividends 
2004 72.7 25.2 97.9 0.4 98.3
2005 74.6 25.8 100.4 0.4 100.9
2006 65.2 26.4 91.6 0.8 92.4
2007 67.7 27.3 94.9 0.6 95.5
2008 77.1 27.5 104.6 0.4 105.0
2009 72.5 28.0 100.5 0.5 101.0
2010 73.6 28.3 101.8 0.5 102.4
2011 79.3 28.4 107.7 0.4 108.1
2012 74.2 28.2 102.5 0.5 102.9
2013 67.3 28.2 95.6 0.5 96.1

(1) Excludes state funds and other residual insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO®, a Verisk Analytics® company.

 
COMPONENTS OF THE COMBINED RATIO, PROPERTY/CASUALTY INSURANCE, 2005-2014 (1)
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Year Loss
ratio (2)		 Expense
ratio (3)		 Combined
ratio		 Dividends to
policyholders (4)		 Combined ratio
after dividends 
2005 74.6 25.8 100.4 0.4 100.9
2006 65.2 26.4 91.6 0.8 92.4
2007 67.7 27.3 94.9 0.6 95.5
2008 77.1 27.5 104.6 0.4 105.0
2009 72.5 28.0 100.5 0.5 101.0
2010 73.6 28.3 101.8 0.5 102.4
2011 79.3 28.4 107.7 0.4 108.1
2012 74.2 28.2 102.5 0.5 102.9
2013 67.4 28.2 95.6 0.5 96.2
2014 68.7 27.8 96.5 0.5 97.0

(1) Excludes state funds and other residual insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO®, a Verisk Analytics® business.

 
Components Of The Combined Ratio, Property/Casualty Insurance, 2006-2015 (1)
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Year Loss ratio (2) Expense ratio (3) Combined ratio Dividends to policyholders (4) Combined ratio after dividends
2006 65.2 26.4 91.6 0.8 92.4
2007 67.7 27.3 94.9 0.6 95.5
2008 77.1 27.5 104.6 0.4 105.0
2009 72.5 28.0 100.5 0.5 101.0
2010 73.6 28.3 101.8 0.5 102.4
2011 79.3 28.4 107.7 0.4 108.1
2012 74.2 28.2 102.5 0.5 102.9
2013 67.4 28.2 95.6 0.5 96.2
2014 68.7 27.8 96.5 0.5 97.0
2015 69.2 28.1 97.3 0.5 97.8

(1) Excluding state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO®, a Verisk Analytics® business.

 
Components Of The Combined Ratio, Property/Casualty Insurance, 2007-2016 (1)
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Year Loss ratio (2) Expense ratio (3) Combined ratio Dividends to policyholders (4) Combined ratio after dividends
2007 67.7 27.3 94.9 0.6 95.5
2008 77.1 27.5 104.6 0.4 105.0
2009 72.5 28.0 100.5 0.5 101.0
2010 73.6 28.3 101.8 0.5 102.4
2011 79.3 28.4 107.7 0.4 108.1
2012 74.2 28.2 102.5 0.5 102.9
2013 67.4 28.2 95.6 0.5 96.2
2014 68.7 27.8 96.5 0.5 97.0
2015 69.2 28.0 97.3 0.5 97.8
2016 72.3 28.0 100.2 0.4 100.7

(1) Excludes state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO®, a Verisk Analytics® business.

 
Components Of The Combined Ratio, Property/Casualty Insurance, 2008-2017 (1)
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Year Loss ratio (2) Expense ratio (3) Combined ratio Dividends to
policyholders (4)		 Combined ratio
after dividends
2008 77.1 27.5 104.6 0.4 105.0
2009 72.5 28.0 100.5 0.5 101.0
2010 73.6 28.3 101.8 0.5 102.4
2011 79.3 28.4 107.7 0.4 108.1
2012 74.2 28.2 102.5 0.5 102.9
2013 67.4 28.2 95.6 0.5 96.2
2014 68.7 27.8 96.5 0.5 97.0
2015 69.2 28.0 97.3 0.5 97.8
2016 72.3 27.9 100.2 0.4 100.6
2017 75.9 27.3 103.2 0.5 103.7

(1) Excludes state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO®, a Verisk Analytics® business.

 
Components Of The Combined Ratio, Property/Casualty Insurance, 2009-2018 (1)
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Year Loss ratio (2) Expense ratio (3) Combined ratio Dividends to
policyholders (4)		 Combined ratio
after dividends 
2009 72.5 28.0 100.5 0.5 101.0
2010 73.6 28.3 101.8 0.5 102.4
2011 79.3 28.4 107.7 0.4 108.1
2012 74.2 28.2 102.5 0.5 102.9
2013 67.4 28.2 95.6 0.5 96.2
2014 68.7 27.8 96.5 0.5 97.0
2015 69.2 28.0 97.3 0.5 97.8
2016 72.3 27.9 100.2 0.4 100.6
2017 75.9 27.3 103.2 0.5 103.7
2018 71.4 27.3 98.7 0.5 99.2

(1) Excludes state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO®, a Verisk Analytics® business.

 
Components Of The Combined Ratio, Property/Casualty Insurance, 2010-2019 (1)
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Year Loss ratio (2) Expense ratio (3) Combined ratio Dividends to
policyholders (4)		 Combined ratio
after dividends
2010 73.6 28.3 101.8 0.5 102.4
2011 79.3 28.4 107.7 0.4 108.1
2012 74.2 28.2 102.5 0.5 102.9
2013 67.4 28.2 95.6 0.5 96.2
2014 68.7 27.8 96.5 0.5 97.0
2015 69.2 28.0 97.3 0.5 97.8
2016 72.3 27.9 100.2 0.4 100.6
2017 75.9 27.3 103.2 0.5 103.7
2018 71.4 27.3 98.7 0.5 99.2
2019 71.1 27.2 98.3 0.6 98.9

(1) Excludes state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

Source: ISO®, a Verisk Analytics® business.

 
Components Of The Combined Ratio, Property/Casualty Insurance, 2012-2021 (1)
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Year Loss and
loss adjustment
expense ratio (2)		 Expense
ratio (3)		 Combined
ratio		 Dividends to
policyholders (4)		 Combined ratio
after dividends
2012 74.5 28.2 102.6 0.6 103.2
2013 67.5 28.2 95.7 0.6 96.3
2014 69.0 27.6 96.6 0.6 97.2
2015 69.3 28.0 97.4 0.6 98.0
2016 72.3 27.9 100.2 0.6 100.8
2017 76.0 27.3 103.2 0.6 103.9
2018 71.4 27.3 98.7 0.6 99.3
2019 71.0 27.2 98.2 0.8 99.0
2020 70.2 27.5 97.6 1.2 98.8
2021 72.4 26.5 99.0 0.7 99.7

(1) Excludes state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

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

 
Components Of The Combined Ratio, Property/Casualty Insurance, 2012-2021 (1)
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Year Loss and
loss adjustment
expense ratio (2)		 Expense
ratio (3)		 Combined
ratio		 Dividends to
policyholders (4)		 Combined ratio
after dividends
2012 74.5 28.2 102.6 0.6 103.2
2013 67.5 28.2 95.7 0.6 96.3
2014 69.0 27.6 96.6 0.6 97.2
2015 69.3 28.0 97.4 0.6 98.0
2016 72.3 27.9 100.2 0.6 100.8
2017 76.0 27.3 103.2 0.6 103.9
2018 71.4 27.3 98.7 0.6 99.3
2019 71.0 27.2 98.2 0.8 99.0
2020 70.2 27.5 97.6 1.2 98.8
2021 72.4 26.5 99.0 0.7 99.7

(1) Excludes state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

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

 
Components Of The Combined Ratio, Property/Casualty Insurance, 2013-2022 (1)
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Year Loss and
loss adjustment
expense ratio (2)		 Expense ratio (3) Combined ratio Dividends to
policyholders (4)		 Combined ratio
after dividends
2013 67.5 28.2 95.7 0.6 96.3
2014 69.0 27.6 96.6 0.6 97.2
2015 69.3 28.0 97.4 0.6 98.0
2016 72.3 27.9 100.2 0.6 100.8
2017 76.0 27.3 103.2 0.6 103.9
2018 71.4 27.3 98.7 0.6 99.3
2019 71.0 27.2 98.2 0.8 99.0
2020 70.2 27.5 97.6 1.2 98.8
2021 72.4 26.5 99.0 0.7 99.7
2022 76.3 25.9 102.3 0.4 102.7

(1) Excludes state funds and other residual market insurers.
(2) Incurred loss and loss adjustment expenses as a percent of earned premiums.
(3) Other underwriting expenses as a percent of written premiums.
(4) Dividends to policyholders as a percent of earned premiums.

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