NAIC Releases In-Depth 2021 Property/Casualty Market Share Data Report

WASHINGTON, July 22 (TNSres) -- The National Association of Insurance Commissioners issued the following news release:

The National Association of Insurance Commissioners (NAIC) released an in-depth 2021 market share data report on property/casualty insurers. The report provides fundamental market information that can be used by regulators, insurers, and others interested in analyzing the insurance industry. It also gives users an understanding of the overall size of the market by providing data at a state and national level.

The Property/Casualty Market Share Report provides data for 33 lines of business, plus Aggregate Write-ins for Other Lines of Business and the Total for All Lines, and contains cumulative market share data for the top 10 writers by state and for the top 125 writers countrywide. The report also shares the countrywide and by-state direct loss ratios for the top writers in each line of business, as well as a countrywide and by-state "total industry" loss ratio.

Highlights from the report include:

* The top 10 groups made up 46.78% of the property and casualty market in the United States

* Private passenger auto liability is the top line of business with the highest amount of written premium, followed by homeowners multiple peril

* Direct written premium increased 9.4% from 2020 for all lines of business

* The overall loss ratio (calculated as earned premium divided by incurred loss) for all lines of business was 62.41%

For questions about the reports or data, contact the NAIC Research & Actuarial Department (https://content.naic.org/research_actuarial_dept.htm).

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REPORT: https://content.naic.org/sites/default/files/publication-msr-pb-property-casualty.pdf

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Original text here: https://content.naic.org/article/naic-releases-depth-2021-propertycasualty-market-share-data-report