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CONTRIBUTION TO THE NATIONAL ECONOMY |
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NET PREMIUMS WRITTEN, PROPERTY/CASUALTY AND LIFE/HEALTH
There are three main insurance sectors. Property/casualty consists mainly of auto, home and commercial insurance. Life/health consists mainly of life insurance and annuity products. The third sector, health insurance, is offered by private health insurance companies, as well as by some life/health and property/casualty insurers. The government’s large-scale participation in providing healthcare through Medicaid and Medicare makes it difficult to compare the health insurance sector with the life/health and property/casualty sectors, which are mostly private.
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P/C AND L/H INSURANCE PREMIUMS, 1998-2007
($000)
Year |
Property/casualty (1) |
Life/health (2) |
Total |
| 1998 | $286,995,396 | $269,892,499 | $556,887,895 |
| 1999 | 293,108,867 | 272,584,233 | 565,693,100 |
| 2000 | 305,069,884 | 303,442,516 | 608,512,399 |
| 2001 | 327,821,992 | 479,113,800 | 806,935,792 |
| 2002 | 375,009,622 | 508,645,715 | 883,655,337 |
| 2003 | 409,256,440 | 500,234,206 | 909,490,647 |
| 2004 | 427,396,262 | 531,160,266 | 958,556,528 |
| 2005 | 429,202,836 | 528,143,033 | 957,345,869 |
| 2006 | 448,964,936 | 583,601,803 | 1,032,566,739 |
| 2007 | 448,141,345 | 616,729,896 | 1,064,871,241 |
| Percent change 1998-2007 | 56.1% | 128.5% | 91.2% |
(1) Net premiums written, excluding state funds.
(2) Premiums and annuity considerations (fees for annuity contracts) for life/health insurance companies. Includes deposit-type funds beginning in 2001.
Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC. |
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