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

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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.