The numbers come from the Division of Insurance’s Select Financial Information Report
According to Division of Insurance financial reports, the total written premium in Massachusetts for all lines of insurance reached almost $50 billion in 2013.
Included are all lines of life insurance, including annuities and deposit funds (e.g. guaranteed interest contracts) which received over $18 billion of the total written premium last year. Also included was health insurance which garnered over $17 billion in premiums, while property and casualty insurance followed with just under $12 billion.
An in-depth look at premium written for each line of insurance in Massachusetts
The following is a more detailed breakdown of the 2013 premium by type of insurance, number of carriers writing the business and the total premium written for 2013..
|Type of insurance written||Number of companies writing in Massachusetts||Massachusetts premium in 2013|
|Accident & Health Insurance||214||$2,890,727,368|
|Boiler & Machinery||126||$29,448,317|
|Burglary & Theft||98||$6,355,374|
|Fidelity & Surety||165||$167,849,335|
|Liability, Other than Auto||316||$1,224,967,123|
|Life \ Other Funds||28||$4,652,573,085|
|Mortgage & Financial Guaranty||21||$125,960,857|
|Ocean & Inland Marine||286||$433,470,583|
|Private Passenger Auto||53||$4,316,756,335|
In the coming weeks, Agency Checklists will publish more detailed premium numbers for companies.