| Property/Casualty Insurance Industry Income Analysis, 2016-2020 |
($ billions)
|
| |
2016 |
2017 |
2018 |
2019 |
2020 |
| Net premiums written |
$534.0 |
$558.4 |
$618.3 |
$639.5 |
$655.5 |
| Percent change |
2.6% |
4.6% |
10.7% |
3.4% |
2.5% |
| Premiums earned |
$529.2 |
$546.4 |
$599.7 |
$627.3 |
$642.7 |
| Losses and loss adjustment expenses incurred |
382.5 |
414.7 |
428.3 |
445.6 |
450.8 |
| Other underwriting expenses |
148.0 |
151.1 |
167.7 |
172.5 |
179.3 |
| Policyholder dividends |
2.9 |
3.3 |
3.7 |
4.9 |
7.7 |
| Net underwriting gain/loss |
-2.4 |
-20.8 |
2.6 |
7.8 |
11.9 |
| Net investment income |
47.5 |
49.7 |
57.0 |
56.3 |
53.4 |
| Miscellaneous income/loss |
-2.4 |
-9.0 |
-2.4 |
-2.5 |
-1.9 |
| Operating income |
43.1 |
20.2 |
57.3 |
60.5 |
59.0 |
| Realized capital gain |
8.5 |
19.6 |
10.7 |
11.0 |
10.4 |
| Federal income tax |
7.3 |
-0.8 |
7.2 |
8.5 |
8.7 |
| Net income after taxes |
44.3 |
40.6 |
60.8 |
63.1 |
60.7 |
Source: NAIC data, sourced from S&P Global Market Intelligence; Insurance Information Institute. |
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