NAIC Releases 2020 Market Share Data

The National Association of Insurance Commissioners (NAIC) released data today 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 numbers in the reports will increase throughout the week and month as the report runs.

The 2020 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.

Highlights from the report include:

* With 66.67% of life and accident/health insurance companies reporting, direct premiums written for life insurance are $147,141,915,821.

* Total reported premiums for life insurance, including annuity considerations, deposit-type contract funds, other considerations, and accident and health are $782,685,141,490 as of March 1.

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.

Highlights from the report include:

* With 69.47% of property/casualty insurance companies reporting to date, direct premiums written for all lines of business are $520,900,408,551.

* The top 10 property/casualty companies reporting to date have a cumulative market share of 50.04%.

* The two largest lines of business, private passenger auto and homeowners, have direct written premiums of $162,476,549,796 and $76,733,238,097, respectively, as of March 1.

The reports reflect data filed by insurers as of March 1 and will be refreshed daily through March 5 and then each Monday throughout March. The full 2020 Market Share Reports for Life/Fraternal Groups and Companies and the full 2020 Market Share Reports for Property/Casualty Groups and Companies will be available this summer and will contain more in-depth information.

* * *

REPORT: https://content.naic.org/sites/default/files/web_market_share_life_fraternal.pdf