The National Association of Insurance Commissioners has released its Report on Profitability by Line by State in 2023, estimating and allocating profitability for the property and casualty insurance industry by state or territory and by line of insurance. The report compiles key ratios and supporting components to help readers assess financial results across jurisdictions and lines of business. Using aggregate data from annual statement exhibits, the report develops estimates of profits on earned premium and direct return on net worth by line and by state or territory, and also provides separate breakouts for stock insurers only and for mutual and reciprocal insurers only (starting with the 2022 data year). Reported highlights include a 14th consecutive year of growth in total premiums earned in 2023 while losses incurred and loss adjustment expenses stayed relatively flat, an increase in countrywide direct return on net worth for the total market to 7.9% from 4.8% in 2022, private passenger auto representing about 33% of total direct premiums earned, and homeowners insurance direct return on net worth rising to 4.0% from 0.7% in 2022. The report also details the components of estimated profits, including underwriting and investment elements, and provides long-term historical averages alongside calendar-year results.
National Association Of Insurance Commissioners 2025-04-22
National Association of Insurance Commissioners releases 2023 profitability report showing US property and casualty return on net worth rising to 7.9%
The National Association of Insurance Commissioners released its 2023 Report on Profitability by Line by State for the property and casualty insurance industry. The report highlights a 14th consecutive year of growth in total premiums earned, with a countrywide direct return on net worth increasing to 7.9% from 4.8% in 2022. Private passenger auto accounts for 33% of total direct premiums earned, and homeowners insurance direct return on net worth rose to 4.0% from 0.7% in 2022.