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Insurance Premium Volume in U.S. Grows 4 Percent in 2016

Overall insurance industry premiums in all lines rose 4 percent to $2.2 trillion in 2016 over 2015, the National Association of Insurance Commissioners reported in its 2016 Insurance Department Resources Report...
August 15, 2017

Overall insurance industry premiums in all lines rose 4 percent to $2.2 trillion in 2016 over 2015, the National Association of Insurance Commissioners (NAIC) reported in its 2016 Insurance Department Resources Report.

Of the $2.2 trillion in premiums, $576 billion, or 26.4 percent, went to property-casualty, the NAIC said. The states with the most premiums written in all lines in 2016 were California ($315 billion), New York, ($163 billion), Texas ($151 billion), Florida ($148 billion), and Pennsylvania ($105 billion). The order was unchanged from 2015.

The top five states in overall premiums accounted for 40.6 percent of all insurance premiums written in the United States, according to the NAIC.

The report is intended to help state insurance departments assess their resources in comparison to other states.

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