2016 Market Share Reports

2016 Market Share Reports

for Property/Casualty Groups and Companies By State and Countrywide

2017

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2016 Market Share Reports for Property/Casualty Groups and Companies

By State and Countrywide

TABLE OF CONTENTS

Introduction .................................................................................................................................................... 1 Property/Casualty Market Share Report Applications............................................................................... 3 Countrywide Loss Ratios by Line of Business ? 5 Years............................................................................. 5 Direct Written Premium Trend Graph......................................................................................................... 9

2016 Market Share Reports by Line of Business Top 125 Countrywide (both with and without Canada & Other Alien data) Top 10 by State

Line Number 35 01 02.1 02.2 02.3 02.4 02.5 03 04 05.1 , 05.2 06 08 09 10 11 12 16 17.1 , 17.2 17.3 18 19.1 , 19.2 21.1 19.1 , 19.2 , 21.1 19.3 , 19.4 21.2 19.3 , 19.4 , 21.2 22 23 24 26 27 28 30 34

Total All Lines........................................................................................... 11 Fire............................................................................................................. 29 Allied Lines................................................................................................ 47 Multiple Peril Crop .................................................................................. 65 Federal Flood ............................................................................................ 79 Private Crop.............................................................................................. 95 Private Flood........................................................................................... 107 Farmowners Multiple Peril.................................................................... 121 Homeowners Multiple Peril ................................................................... 137 Total Commercial Multiple Peril .......................................................... 155 Mortgage Guaranty................................................................................ 173 Ocean Marine ......................................................................................... 187 Inland Marine ......................................................................................... 205 Financial Guaranty ................................................................................ 223 Medical Professional Liability ............................................................... 233 Earthquake.............................................................................................. 251 Workers' Compensation ........................................................................ 269 Other Liability ........................................................................................ 287 Excess Workers' Compensation ............................................................ 305 Products Liability ................................................................................... 319 Private Passenger Auto Liability........................................................... 337 Private Passenger Auto Physical Damage ............................................ 355 Total Private Passenger Auto ................................................................ 373 Commercial Auto Liability .................................................................... 391 Commercial Auto Physical Damage...................................................... 409 Total Commercial Auto.......................................................................... 427 Aircraft (All Perils)................................................................................. 445 Fidelity ..................................................................................................... 461 Surety....................................................................................................... 479 Burglary and Theft................................................................................. 497 Boiler and Machinery ............................................................................ 515 Credit ....................................................................................................... 533 Warranty ................................................................................................. 551 Aggregate Write-Ins for Other Lines of Business................................ 565

Technical Notes ........................................................................................................................................... 583 Index of Insurer Groups and Companies ................................................................................................. 589

? 2017 National Association of Insurance Commissioners

? 2017 National Association of Insurance Commissioners

INTRODUCTION

These 2016 Market Share Reports for Property/Casualty Groups and Companies by State and Countrywide are intended to make property/casualty (P/C) market share information more readily available. Direct Written Premiums are taken from the "Exhibit of Premiums and Losses" (page 19? Statutory page 14) in the NAIC P/C annual statement. In the Workers' Compensation and Total All Lines sections of this report, Direct Written Premiums includes prior-year state fund premium data reported directly to the NAIC for the following states: North Dakota, Ohio, South Carolina, Washington and Wyoming. In the Fire, Homeowners, Allied and Total All Lines sections of this report, Direct Written Premiums includes estimated 2016 premium data reported directly to the NAIC from the Louisiana staterun property insurer of last resort.

Insurance groups are made up of insurance companies that are related by ownership. The market share reports show data by group for those insurers that are members of a group. This allows the report to more accurately reflect the number of distinct entities that are competing against one another for business in the market. An index listing the individual insurers within a group is included at the end of the report. Insurers merge, change names, and buy and sell companies; however, the index gives a "snapshot" view of group structures as filed with the NAIC on July 12, 2017, the date this report was generated.

Market shares for 31 lines of business are included in this report, plus Aggregate Write-ins for Other Lines of Business and the Total for All Lines. By state, the report is limited to the top 10 groups and companies in order to keep the publication to a manageable size. However, the top 125 groups and companies are shown for each line of business for the following countrywide aggregations:

? States, U.S. Territories, Canada and Aggregate Other Alien ? States and U.S. Territories

Accident and health insurance data are reported to the NAIC on four annual statements: P/C, life/health, fraternal and health. Market shares for the individual accident and health lines of business are not included in this report. A separate publication, Market Share Reports for the Top 125 Accident and Health Insurance Companies and Groups by State and Countrywide, combines data from all four statements to provide complete market share information for that line. (Note: The "Total All Lines" market share in this publication represents Total Line 35 as reported on annual statement Page 19 and, therefore, will include accident and health data.)

Commercial Multi-Peril (CMP) is shown in total only, as the distinction between the property and liability portions of CMP are meaningful for analysis of loss development, but less so for analysis of market share. No Fault and Liability coverages are combined for both private passenger and commercial auto due to inconsistent reporting of No Fault data among the various companies and states.

This report provides cumulative market share data for the top 10 writers by state, and for the top 125 writers countrywide. This is one indicator of the degree of market concentration in a line of business. The report also provides the countrywide and by-state direct loss ratios for the top writers in each line of business, as well as a countrywide and by-state "total industry" loss ratio. Tables displaying the direct loss ratios for each line of business on a countrywide basis follow this introduction. These figures include only data taken from the "Exhibit of Premiums and Losses" (page 19?Statutory page 14) in the NAIC P/C annual statement.

The loss ratios in this report reflect a simple calendar-year result. While these loss ratios provide some information about results for that year, they should not be considered as measures of overall profitability. Many other factors, including expenses and investment income, are used in developing profitability measures. Many property lines--such as earthquake, homeowners, allied lines and inland marine--are subject to extreme fluctuations in results, due, in particular, to the occurrence of major catastrophes such as tornadoes, earthquakes and civil disturbances.

? 2017 National Association of Insurance Commissioners 1

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