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2018 Insurance Fact Book to the READER Insurers Know to Expect the Unexpected and to Plan Accordingly

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2018 Insurance Fact Book to the READER Insurers Know to Expect the Unexpected and to Plan Accordingly 2018 Insurance Fact Book TO THE READER Insurers know to expect the unexpected and to plan accordingly. Looking back often can illuminate the road ahead. The catastrophes of 2017 show how very important it is to build resilience in every aspect of our lives and society. Resilient communities bounce back more quickly after disaster, poised to become even stronger. Business owners and families alike are beginning to embrace the value of risk mitigation as a key tool in protecting their investments. They realize that insurers are critical partners in planning to recover from any catastrophe. As such, the 2018 Insurance Fact Book illustrates the power of insurance in our economy, and how the industry is a trusted partner in preparing for and recovering from disruption. The 2018 Insurance Fact Book is the first all-digital edition of our flagship industry reference resource. This year, we have included more international statistics, including data on the leading companies of the Top 10 Countries by Life and Nonlife Premiums, and have added more information on cybercrime and as well, opioid use. Presented in a searchable, user-friendly PDF-format, the Fact Book is intended to be used with the Insurance Information Institute’s website, www.iii.org, where consumers, researchers, public policymakers and businesses will find also useful articles, publications, and up-to-date research. Since its inception more than 60 years ago, the Fact Book has delivered detailed information for reporters, businesses, regulators, legislators and researchers seeking a greater understanding of trends and statistics that shape the insurance industry. As always, the book provides valuable information on: • World and U.S. catastrophes • Property/casualty and life/health insurance results and investments • Personal expenditures on auto and homeowners insurance • Major categories of insurance losses, including catastrophes, vehicle accidents, homeowners claims, crime and workplace accidents • State auto insurance laws Through publications like the Fact Book, and research and commentary from the Institute’s expert thought leaders and spokespeople, the Insurance Information Institute continues to serve the public as an originator of objective and timely information. We encourage you to stay in touch with us via social media on Facebook, Twitter at @III_Research, LinkedIn, and on our YouTube channel. As always, we would like to thank the many associations, consultants and others who collect industry statistics and who have generously given permission to use their data. We would also like to extend a warm welcome to all our new members. Sean Kevelighan Chief Executive Officer Insurance Information Institute The 2018 Insurance Fact Book is published by the Insurance Information Institute, a primary source for information, analysis and referral on insurance subjects. The Fact Book contains material from numerous sources. Because these sources define and collect data in various ways, and moreover, are constantly refining the data, differences among similar data may occur. ©2018 Insurance Information Institute. ISBN 978-0-932387-79-0. iiInsurance Information Institute | www.iii.org 2018 Insurance Fact Book ii TABLE OF CONTENTS Insurance Industry At A Glance .................................................................................................................................... v Chapter 1: World Insurance Markets Premiums ........................................................................................................................................................................1 Reinsurance ................................................................................................................................................................ 10 Leading Companies ................................................................................................................................................. 12 International Sales .................................................................................................................................................... 14 Captives And Other Risk-Financing Options .................................................................................................... 15 Microinsurance And Emerging Markets ............................................................................................................. 17 Chapter 2: U.S. Insurance Industry, All Sectors Premiums ..................................................................................................................................................................... 20 Leading Companies ................................................................................................................................................. 22 Health ........................................................................................................................................................................... 23 Employment And Other Economic Contributions ........................................................................................... 24 Mergers And Acquisitions ...................................................................................................................................... 26 Companies By State ................................................................................................................................................. 30 Premium Taxes By State ......................................................................................................................................... 31 Chapter 3: Distribution Property/Casualty ...................................................................................................................................................... 32 Life ................................................................................................................................................................................. 34 Annuities ...................................................................................................................................................................... 35 Chapter 4: Retirement Overview...................................................................................................................................................................... 36 IRAs ............................................................................................................................................................................... 39 401(k)s .......................................................................................................................................................................... 40 Mutual Funds .............................................................................................................................................................. 40 Annuities ...................................................................................................................................................................... 41 Chapter 5: Life/Health Financial Data Financial Results ........................................................................................................................................................ 44 Investments ................................................................................................................................................................. 46 Payouts ......................................................................................................................................................................... 47 Premiums By Line… .................................................................................................................................................. 48 Leading Companies ................................................................................................................................................. 53 Chapter 6: Property/Casualty Financial Data Financial Results ........................................................................................................................................................ 55 Investments ................................................................................................................................................................. 62 Surplus Lines .............................................................................................................................................................. 64 Concentration............................................................................................................................................................. 65 Reinsurance ................................................................................................................................................................ 66 Premiums By State .................................................................................................................................................... 67 Incurred Losses By State ........................................................................................................................................ 68 Guaranty Funds ......................................................................................................................................................... 69 iiiInsurance Information Institute | www.iii.org 2018 Insurance Fact Book iii TABLE OF CONTENTS Chapter 7: Property/Casualty Insurance By Line
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