The National Association of Insurance Commissioners (“NAIC”) has released data on life/fraternal and property/casualty insurers. The reports provide market share information and identify leading insurance writers in several key lines of business.
The 2018 market share data include countrywide direct written premiums for the top 25 groups and companies as reported on the state page of the annual financial statement for insurers that report to the NAIC.
The life/fraternal market share report contains cumulative market share data for life insurance, annuity considerations, and an aggregate total of life insurance, annuity considerations, deposit-type contract funds, other considerations, and accident/health insurance.
A few highlights from the report include:
- With 95.50 percent of life and accident/health insurance companies reporting, direct premiums written for life insurance were $166,577,249,584.
- Total reported premiums for life insurance, including annuity considerations, deposit-type contract funds and other considerations were $886,597,657,239 as of March 4.
The property/casualty market share report contains cumulative market share data for the following lines of business: personal auto, commercial auto, workers' compensation, medical professional liability, homeowners, and other liability (excluding auto liability) insurance.
A few highlights from the report include:
- With 96.55 percent of property/casualty insurance companies reporting to date, direct premiums written for all lines of business were $670,262,757,463.
- The top 10 property/casualty companies reporting to date had a cumulative market share of 47.79 percent.
- Total private passenger auto insurance had the largest amount of direct premiums written reported as of March 4 at $244,455,312,825.
The reports reflected data filed by insurers as of March 4. The full 2018 market share reports will be available this summer and will contain more in-depth information, the NAIC said.
Learn more: www.naic.org.
Steven A. Meyerowitz
Steven A. Meyerowitz, a Harvard Law School graduate, is the founder and president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. He may be contacted at [email protected].