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NAIC Insurance Market Data 2020

Sharlea Taft

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Does your company utilize the market data available on the National Association of Insurance Commissioners (NAIC) website?

The NAIC released data this month on life and annuities and property and casualty insurers. The reports provide market share information and identify leading insurance writers in several key lines of business. This valuable 2020 market share data can help your company review its strategic plan and compare with current industry standards.

The data includes 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.

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The Life and 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 and health insurance.

Highlights from the report include:

  • With 66.67% of life and accident and 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 and 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 and casualty insurance companies reporting to date, direct premiums written for all lines of business are $520,900,408,551.
  • The top 10 property and 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.

Other full market share reports are scheduled to be available this summer and will contain more in-depth information.   Additional market data and research is also accessible at https://content.naic.org/research_actuarial_dept.htm.

If you have any questions or would like assistance with this information, please feel free to contact me directly at Sharlea.Taft@sapiens.com.

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Sharlea Taft

Sharlea Taft Sharlea Taft is the NAIC Liaison for Sapiens and responsible for keeping up with regulatory changes and updates from the NAIC. Sharlea's background includes over 17 years in insurance and regulatory experience working with insurance companies and securities filings. She holds a Masters in Business Administration and has a Professional in Insurance Regulation from the NAIC.