The NAIC Report contains key ratios on profitability both nationally and by state
The The National Association of Insurance Commissioners (NAIC) has released its Report on Profitability by Line by State in 2016. The annual report takes a look at the the profitability in the Property/Casualty Insurance industry by both line of insurance as well as by state.
The report illustrates various components of estimated profits including:
- premiums earned;
- losses incurred;
- loss adjustment expense;
- general expenses;
- selling expenses;
- state taxes, licenses and fees;
- dividends to policyholders;
- changes in premium deficiency reserves;
- underwriting profits;
- investment income and federal income taxes.
In addition, it all provides a look at long-term historical averages.
A look at the profitability numbers for Massachusetts…
Since the charts speak for themselves, we are including them here without any commentary:
A look at profitability nationwide in 2016
For those interested in looking at the numbers countrywide, here are two charts the NAIC included in the report:
How to view the entire report…
For those interested in viewing the entire NAIC report or other states, a .pdf of the report may be accessed here.
