NAIC Releases 2022 Market Share Data
Life/Fraternal and Property/Casualty Reports
KANSAS CITY, Mo.
The National Association of Insurance Commissioners (NAIC) released data 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 reports reflect data filed by insurers as of March 1st.
The 2022 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 section 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 include:
• With 65.23% of life and accident/health insurance companies reporting, direct premiums written for life insurance are $154,517,527,177.
• The Top 10 life insurance companies reporting so far have a cumulative market share of 57.37%.
• Total reported premiums for life insurance, including annuity considerations, deposit-type contract funds, other considerations, and accident and health are $821,388,486,394 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 include:
• With 65.62% of property and casualty insurance companies reporting so far, direct premiums written for all lines of business are $618,692,985,615.
• The Top 10 property and casualty companies reporting so far have a cumulative market share of 52.11%.
• Total private passenger auto insurance has the largest amount of direct premiums written reported as of March 1, 2023, at $178,365,401,539, which is about 29% of all written premiums.
The full 2022 Market Share Reports for Property/Casualty Groups and Companies will be available this summer and will contain more in-depth information.
For now, here are the latest charts.
