| Property/Casualty Insurance Industry Income Analysis, 2018-2022 |
($ billions)
|
| |
2018 |
2019 |
2020 |
2021 |
2022 |
| Net premiums written |
$618.3 |
$639.9 |
$655.8 |
$715.7 |
$775.1 |
| Percent change |
10.7% |
3.5% |
2.5% |
9.1% |
8.3% |
| Premiums earned |
$599.8 |
$627.7 |
$643.0 |
$689.8 |
$745.8 |
| Losses and loss adjustment expenses incurred |
428.2 |
446.0 |
451.0 |
500.6 |
567.6 |
| Other underwriting expenses |
167.6 |
172.6 |
179.4 |
188.5 |
199.0 |
| Policyholder dividends |
3.7 |
4.9 |
7.7 |
4.6 |
3.2 |
| Net underwriting gain/loss |
3.1 |
7.9 |
12.1 |
-0.3 |
-22.4 |
| Net investment income |
57.0 |
56.5 |
53.5 |
56.1 |
71.3 |
| Miscellaneous income/loss |
-2.4 |
-2.5 |
-1.9 |
0.1 |
-1.6 |
| Operating income |
57.7 |
60.9 |
59.3 |
54.7 |
47.8 |
| Realized capital gain |
10.7 |
11.0 |
10.7 |
17.5 |
-3.5 |
| Federal income tax |
7.3 |
8.5 |
8.7 |
9.1 |
6.1 |
| Net income after taxes |
61.1 |
63.4 |
61.3 |
63.2 |
38.2 |
Source: NAIC data, sourced from S&P Global Market Intelligence; Insurance Information Institute. |
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