U.S. insurance industry net premiums written totaled $1.4 trillion in 2021, with premiums recorded by property/casualty (P/C) insurers accounting for 53 percent, and premiums by life/annuity insurers accounting for 47 percent, according to S&P Global Market Intelligence. P/C insurance consists primarily of auto, homeowners and commercial insurance. Net premiums written for the sector totaled $715.9 billion in 2021.
U.S. insurance industry net premiums written totaled $1.4 trillion in 2021, with premiums recorded by property/casualty (P/C) insurers accounting for 53 percent, and premiums by life/annuity insurers accounting for 47 percent, according to S&P Global Market Intelligence.
The U.S. insurance industry employed 2.8 million people in 2021, according to the U.S. Department of Labor. Of those, 1.6 million worked for insurance companies, including life and health insurers (911,400 workers), P/C insurers (628,600 workers) and reinsurers (26,900 workers). The remaining 1.2 million people worked for insurance agencies, brokers and other insurance-related enterprises.
Insurance carriers
Insurance agencies, brokerages and related services
Direct insurers (1)
Year
Life and
health (2)
Property/
casualty
Reinsurers
Total
Insurance
agencies
and brokers
Other
insurance-
related
activities (3)
Total
Total
industry
2012
811.3
599.5
25.7
1,436.4
659.6
272.3
931.8
2,368.3
2013
813.2
593.7
26.2
1,433.1
672.3
283.5
955.8
2,388.9
2014
829.0
594.7
25.1
1,448.7
720.0
297.1
1,017.1
2,465.8
2015
829.8
611.6
25.1
1,466.5
762.8
309.1
1,071.8
2,538.3
2016
818.9
643.5
25.3
1,487.7
783.5
321.5
1,105.0
2,592.7
2017
850.4
639.7
26.6
1,516.7
809.6
333.3
1,142.9
2,659.6
2018
882.8
629.5
28.6
1,540.9
825.6
346.2
1,171.8
2,712.7
2019
931.2
650.3
28.6
1,610.1
842.8
349.5
1,192.2
2,802.3
2020
945.6
653.9
27.6
1,627.1
856.5
352.3
1,208.8
2,835.9
2021
911.4
628.6
26.9
1,566.9
881.5
353.2
1,234.6
2,801.5
(1) Establishments primarily engaged in initially underwriting insurance policies.
(2) Includes establishments engaged in underwriting annuities, life insurance and health and medical insurance policies.
(3) Includes claims adjusters, third-party administrators of insurance funds and other service personnel such as advisory and insurance ratemaking services.
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GST taxpayers can't claim any pending input tax credit if this return is not filed by November 30, 2024 for FY 2023-24
