GITNUXREPORT 2026

Property Casualty Insurance Industry Statistics

The U.S. property and casualty insurance industry grew significantly in 2022 despite substantial underwriting losses from high claims.

Daniel Varga

Written by Daniel Varga·Edited by Jonathan Hale·Fact-checked by Abigail Foster

Published Feb 13, 2026·Last verified Feb 13, 2026·Next review: Aug 2026

How We Build This Report

01
Primary Source Collection

Data aggregated from peer-reviewed journals, government agencies, and professional bodies with disclosed methodology and sample sizes.

02
Editorial Curation

Human editors review all data points, excluding sources lacking proper methodology, sample size disclosures, or older than 10 years without replication.

03
AI-Powered Verification

Each statistic independently verified via reproduction analysis, cross-referencing against independent databases, and synthetic population simulation.

04
Human Cross-Check

Final human editorial review of all AI-verified statistics. Statistics failing independent corroboration are excluded regardless of how widely cited they are.

Statistics that could not be independently verified are excluded regardless of how widely cited they are elsewhere.

Our process →

Key Statistics

Statistic 1

State Farm held 9.3% market share of U.S. P/C direct premiums written in 2022 with $76.6 billion.

Statistic 2

Berkshire Hathaway group ranked second with 7.8% share, writing $63.0 billion in 2022 DPW.

Statistic 3

Progressive was third at 6.5% market share, $52.5 billion DPW in 2022.

Statistic 4

Allstate captured 4.2% share with $34.1 billion in 2022 P/C premiums.

Statistic 5

USAA group had 3.9% share, $31.4 billion DPW in 2022.

Statistic 6

Liberty Mutual ranked sixth with 3.7% share at $29.8 billion in 2022.

Statistic 7

Travelers group wrote $25.6 billion, 3.2% share in 2022 P/C market.

Statistic 8

Nationwide held 2.8% share with $22.7 billion DPW 2022.

Statistic 9

Farmers Insurance Group had 2.6% share, $21.0 billion in 2022.

Statistic 10

Auto-Owners group captured 1.9% with $15.4 billion DPW 2022.

Statistic 11

Personal lines accounted for 54% of total P/C premiums in 2022.

Statistic 12

Commercial lines made up 46% of the P/C market premiums in 2022.

Statistic 13

Top 10 writers controlled 45.2% of U.S. P/C premiums in 2022.

Statistic 14

Stock insurers wrote 78% of P/C premiums in 2022, mutuals 22%.

Statistic 15

California represented 11.4% of national P/C premiums in 2022.

Statistic 16

Florida's share was 7.8% of U.S. P/C DPW in 2022.

Statistic 17

Texas held 6.5% market share in P/C premiums 2022.

Statistic 18

New York accounted for 5.9% of total P/C premiums in 2022.

Statistic 19

The P/C industry employed 1.2 million people in the U.S. as of 2022.

Statistic 20

The U.S. P/C industry's average combined ratio was 105.2% in 2022, indicating underwriting losses.

Statistic 21

Net underwriting losses for P/C insurers totaled $37.4 billion in 2022.

Statistic 22

Policyholder surplus growth rate was 4.1% in 2022, reaching $1.15 trillion.

Statistic 23

Pre-tax operating income for P/C was $85.6 billion in 2022, up from $72.3 billion in 2021.

Statistic 24

Return on equity (ROE) for U.S. P/C insurers averaged 10.4% in 2022.

Statistic 25

Investment yield for P/C insurers was 3.2% in 2022, down from 3.5% in 2021 due to rate environment.

Statistic 26

Net investment income generated $72.1 billion in 2022 for the industry.

Statistic 27

Loss ratio for overall P/C was 73.5% in 2022, up from 70.2% in 2021.

Statistic 28

Expense ratio remained stable at 29.8% in 2022 for P/C insurers.

Statistic 29

Dividend payout ratio for P/C stocks averaged 25.3% in 2022.

Statistic 30

Leverage ratio (premiums/surplus) was 2.41 in 2022, up from 2.35 in 2021.

Statistic 31

Capacity (premiums to surplus) increased to 2.42x in 2022.

Statistic 32

After-tax operating profit margin was 8.7% in 2022 for P/C.

Statistic 33

Quick liquidity ratio for P/C was 1.28 in 2022.

Statistic 34

Best's capital adequacy ratio (BCAR) averaged 85.2 for top P/C groups in 2022.

Statistic 35

Overall profitability index rose to 112 in 2022 from 108 in 2021.

Statistic 36

P/C combined ratio projected at 101.5% for 2023 full year.

Statistic 37

Investment income forecasted to reach $78 billion in 2023 for U.S. P/C.

Statistic 38

Policyholder surplus growth projected at 5.2% to $1.21 trillion in 2023.

Statistic 39

U.S. P/C incurred losses and loss adjustment expenses were $512.3 billion in 2022, up 9.8% from 2021.

Statistic 40

Catastrophe claims paid by P/C insurers in 2022 exceeded $103 billion, highest since 2017.

Statistic 41

Auto physical damage incurred losses reached $92.4 billion in 2022, up 14.2%.

Statistic 42

Homeowners line incurred losses totaled $78.6 billion in 2022, a 18.5% increase.

Statistic 43

Commercial multiperil incurred losses were $112.7 billion in 2022, rising 7.9%.

Statistic 44

Workers' comp incurred losses hit $48.2 billion in 2022, up 3.6%.

Statistic 45

Allied lines losses and LAE were $55.3 billion in 2022, increasing 11.4%.

Statistic 46

Private passenger auto liability incurred losses reached $110.5 billion in 2022, up 11.7%.

Statistic 47

Fire losses incurred totaled $32.1 billion in 2022, a 12.8% rise.

Statistic 48

Medical professional liability losses were $9.4 billion in 2022, up 2.8%.

Statistic 49

Commercial casualty losses amounted to $45.8 billion in 2022 incurred, growing 6.2%.

Statistic 50

Other liability occurrence losses hit $42.6 billion in 2022, up 5.9%.

Statistic 51

Products liability losses were $6.7 billion in 2022, increasing 4.1%.

Statistic 52

Farmowners losses totaled $2.9 billion incurred in 2022, up 6.3%.

Statistic 53

Inland marine losses reached $8.2 billion in 2022, a 9.5% increase.

Statistic 54

Ocean marine incurred losses were $2.4 billion in 2022, up 5.2%.

Statistic 55

Aircraft losses amounted to $1.3 billion in 2022, growing 3.4%.

Statistic 56

Fidelity/surety losses hit $6.8 billion incurred in 2022, up 4.6%.

Statistic 57

Catastrophe losses estimated at $110 billion globally in 2023.

Statistic 58

U.S. severe convective storm losses totaled $52 billion in 2023.

Statistic 59

Auto liability loss ratio expected to hit 78% in 2023.

Statistic 60

In 2022, U.S. property/casualty insurance industry direct premiums written reached $808.4 billion, a 7.2% increase from $753.8 billion in 2021.

Statistic 61

Global property/casualty insurance premiums grew by 2.1% in real terms in 2022 to $2.8 trillion, driven by exposure growth and rate increases.

Statistic 62

The U.S. P/C industry's net premiums earned in 2022 totaled $697.2 billion, up 6.8% from the previous year.

Statistic 63

Property/casualty insurance penetration in the U.S. stood at 3.4% of GDP in 2022, compared to 2.9% in 2019 pre-pandemic.

Statistic 64

In 2023 Q1-Q3, U.S. P/C direct premiums written surged 10.5% year-over-year to $687.3 billion.

Statistic 65

Global non-life insurance market size was valued at $2.92 trillion in 2023, projected to reach $4.15 trillion by 2030 at a CAGR of 5.1%.

Statistic 66

U.S. P/C insurers held $1.2 trillion in policyholder surplus as of year-end 2022, up 4.1% from 2021.

Statistic 67

The property/casualty sector accounted for 48% of total U.S. insurance premiums in 2022.

Statistic 68

In Europe, P/C premiums grew 4.2% nominally in 2022 to €1.1 trillion despite inflation pressures.

Statistic 69

U.S. catastrophe losses in 2022 totaled $165 billion before reinsurance, the fourth-highest on record.

Statistic 70

Asia-Pacific P/C premiums increased 3.8% in real terms in 2022 to $0.9 trillion.

Statistic 71

The global P/C insurance density was $336 per capita in 2022, up from $320 in 2021.

Statistic 72

U.S. P/C net premiums written grew 8.3% to $752 billion in 2023 full year estimate.

Statistic 73

Latin America P/C market expanded 6.5% in real terms in 2022 amid economic recovery.

Statistic 74

U.S. P/C industry's total admitted assets reached $2.3 trillion in 2022.

Statistic 75

In 2023, U.S. P/C net premiums written are projected to grow 7.5% to $809 billion.

Statistic 76

Global P/C premiums expected to rise 3.2% in real terms in 2023.

Statistic 77

In 2022, direct premiums written for private passenger auto insurance totaled $289.5 billion, up 12.4% YoY.

Statistic 78

Homeowners insurance direct premiums written in the U.S. hit $124.2 billion in 2022, a 14.1% increase.

Statistic 79

Commercial multiperil premiums written grew to $143.8 billion in 2022, up 8.6%.

Statistic 80

Workers' compensation direct premiums were $59.4 billion in 2022, increasing 4.2% from 2021.

Statistic 81

Allied lines premiums reached $80.1 billion in direct premiums written in 2022, up 9.7%.

Statistic 82

Fire and allied lines direct premiums written totaled $45.6 billion in 2022, a 11.3% rise.

Statistic 83

Medical malpractice insurance premiums written were $11.8 billion in 2022, up 3.1%.

Statistic 84

Commercial auto direct premiums written amounted to $52.3 billion in 2022, increasing 7.9%.

Statistic 85

Other liability premiums hit $64.7 billion in 2022, a 6.5% growth.

Statistic 86

Farmowners multiple peril premiums were $4.2 billion in 2022 direct written, up 5.8%.

Statistic 87

Boiler and machinery premiums totaled $2.1 billion in 2022, increasing 4.7%.

Statistic 88

Inland marine direct premiums written reached $12.4 billion in 2022, up 10.2%.

Statistic 89

Ocean marine premiums were $3.5 billion in 2022, a 6.1% increase.

Statistic 90

Aircraft premiums written amounted to $1.8 billion in 2022 direct, up 3.9%.

Statistic 91

Fidelity/surety direct premiums totaled $10.2 billion in 2022, growing 5.4%.

Statistic 92

U.S. homeowners premiums projected to increase 8.2% in 2023 to $134.5 billion.

Statistic 93

Private passenger auto premiums forecasted at $325 billion DPW in 2023.

Statistic 94

Workers' comp premiums expected to grow 4.8% to $62.3 billion in 2023.

Statistic 95

Commercial casualty premiums projected up 9.1% in 2023.

Sources
Trusted by 500+ publications
Harvard Business ReviewThe GuardianFortune+497
While navigating unprecedented challenges from catastrophic storms to economic pressures, the U.S. property and casualty insurance industry demonstrated remarkable resilience in 2022, with direct premiums soaring past $808 billion, a sign of both its critical role and dynamic evolution in a risk-filled world.

Key Takeaways

  • In 2022, U.S. property/casualty insurance industry direct premiums written reached $808.4 billion, a 7.2% increase from $753.8 billion in 2021.
  • Global property/casualty insurance premiums grew by 2.1% in real terms in 2022 to $2.8 trillion, driven by exposure growth and rate increases.
  • The U.S. P/C industry's net premiums earned in 2022 totaled $697.2 billion, up 6.8% from the previous year.
  • In 2022, direct premiums written for private passenger auto insurance totaled $289.5 billion, up 12.4% YoY.
  • Homeowners insurance direct premiums written in the U.S. hit $124.2 billion in 2022, a 14.1% increase.
  • Commercial multiperil premiums written grew to $143.8 billion in 2022, up 8.6%.
  • U.S. P/C incurred losses and loss adjustment expenses were $512.3 billion in 2022, up 9.8% from 2021.
  • Catastrophe claims paid by P/C insurers in 2022 exceeded $103 billion, highest since 2017.
  • Auto physical damage incurred losses reached $92.4 billion in 2022, up 14.2%.
  • The U.S. P/C industry's average combined ratio was 105.2% in 2022, indicating underwriting losses.
  • Net underwriting losses for P/C insurers totaled $37.4 billion in 2022.
  • Policyholder surplus growth rate was 4.1% in 2022, reaching $1.15 trillion.
  • State Farm held 9.3% market share of U.S. P/C direct premiums written in 2022 with $76.6 billion.
  • Berkshire Hathaway group ranked second with 7.8% share, writing $63.0 billion in 2022 DPW.
  • Progressive was third at 6.5% market share, $52.5 billion DPW in 2022.

The U.S. property and casualty insurance industry grew significantly in 2022 despite substantial underwriting losses from high claims.

Company and Market Share Statistics

1State Farm held 9.3% market share of U.S. P/C direct premiums written in 2022 with $76.6 billion.
Verified
2Berkshire Hathaway group ranked second with 7.8% share, writing $63.0 billion in 2022 DPW.
Verified
3Progressive was third at 6.5% market share, $52.5 billion DPW in 2022.
Verified
4Allstate captured 4.2% share with $34.1 billion in 2022 P/C premiums.
Directional
5USAA group had 3.9% share, $31.4 billion DPW in 2022.
Single source
6Liberty Mutual ranked sixth with 3.7% share at $29.8 billion in 2022.
Verified
7Travelers group wrote $25.6 billion, 3.2% share in 2022 P/C market.
Verified
8Nationwide held 2.8% share with $22.7 billion DPW 2022.
Verified
9Farmers Insurance Group had 2.6% share, $21.0 billion in 2022.
Directional
10Auto-Owners group captured 1.9% with $15.4 billion DPW 2022.
Single source
11Personal lines accounted for 54% of total P/C premiums in 2022.
Verified
12Commercial lines made up 46% of the P/C market premiums in 2022.
Verified
13Top 10 writers controlled 45.2% of U.S. P/C premiums in 2022.
Verified
14Stock insurers wrote 78% of P/C premiums in 2022, mutuals 22%.
Directional
15California represented 11.4% of national P/C premiums in 2022.
Single source
16Florida's share was 7.8% of U.S. P/C DPW in 2022.
Verified
17Texas held 6.5% market share in P/C premiums 2022.
Verified
18New York accounted for 5.9% of total P/C premiums in 2022.
Verified
19The P/C industry employed 1.2 million people in the U.S. as of 2022.
Directional

Company and Market Share Statistics Interpretation

State Farm's lead may be cozy, but with personal lines like car and home insurance making up over half the market and the top ten companies controlling nearly half of it, the real competition is a sprawling, state-by-state scramble for your premium dollars.

Financial Performance Statistics

1The U.S. P/C industry's average combined ratio was 105.2% in 2022, indicating underwriting losses.
Verified
2Net underwriting losses for P/C insurers totaled $37.4 billion in 2022.
Verified
3Policyholder surplus growth rate was 4.1% in 2022, reaching $1.15 trillion.
Verified
4Pre-tax operating income for P/C was $85.6 billion in 2022, up from $72.3 billion in 2021.
Directional
5Return on equity (ROE) for U.S. P/C insurers averaged 10.4% in 2022.
Single source
6Investment yield for P/C insurers was 3.2% in 2022, down from 3.5% in 2021 due to rate environment.
Verified
7Net investment income generated $72.1 billion in 2022 for the industry.
Verified
8Loss ratio for overall P/C was 73.5% in 2022, up from 70.2% in 2021.
Verified
9Expense ratio remained stable at 29.8% in 2022 for P/C insurers.
Directional
10Dividend payout ratio for P/C stocks averaged 25.3% in 2022.
Single source
11Leverage ratio (premiums/surplus) was 2.41 in 2022, up from 2.35 in 2021.
Verified
12Capacity (premiums to surplus) increased to 2.42x in 2022.
Verified
13After-tax operating profit margin was 8.7% in 2022 for P/C.
Verified
14Quick liquidity ratio for P/C was 1.28 in 2022.
Directional
15Best's capital adequacy ratio (BCAR) averaged 85.2 for top P/C groups in 2022.
Single source
16Overall profitability index rose to 112 in 2022 from 108 in 2021.
Verified
17P/C combined ratio projected at 101.5% for 2023 full year.
Verified
18Investment income forecasted to reach $78 billion in 2023 for U.S. P/C.
Verified
19Policyholder surplus growth projected at 5.2% to $1.21 trillion in 2023.
Directional

Financial Performance Statistics Interpretation

The industry is essentially subsidizing its customers' premiums with its investment portfolio, as it lost a staggering $37.4 billion on underwriting but still managed to post a healthy 10.4% return on equity thanks to a $72 billion boost from its investments.

Loss and Claim Statistics

1U.S. P/C incurred losses and loss adjustment expenses were $512.3 billion in 2022, up 9.8% from 2021.
Verified
2Catastrophe claims paid by P/C insurers in 2022 exceeded $103 billion, highest since 2017.
Verified
3Auto physical damage incurred losses reached $92.4 billion in 2022, up 14.2%.
Verified
4Homeowners line incurred losses totaled $78.6 billion in 2022, a 18.5% increase.
Directional
5Commercial multiperil incurred losses were $112.7 billion in 2022, rising 7.9%.
Single source
6Workers' comp incurred losses hit $48.2 billion in 2022, up 3.6%.
Verified
7Allied lines losses and LAE were $55.3 billion in 2022, increasing 11.4%.
Verified
8Private passenger auto liability incurred losses reached $110.5 billion in 2022, up 11.7%.
Verified
9Fire losses incurred totaled $32.1 billion in 2022, a 12.8% rise.
Directional
10Medical professional liability losses were $9.4 billion in 2022, up 2.8%.
Single source
11Commercial casualty losses amounted to $45.8 billion in 2022 incurred, growing 6.2%.
Verified
12Other liability occurrence losses hit $42.6 billion in 2022, up 5.9%.
Verified
13Products liability losses were $6.7 billion in 2022, increasing 4.1%.
Verified
14Farmowners losses totaled $2.9 billion incurred in 2022, up 6.3%.
Directional
15Inland marine losses reached $8.2 billion in 2022, a 9.5% increase.
Single source
16Ocean marine incurred losses were $2.4 billion in 2022, up 5.2%.
Verified
17Aircraft losses amounted to $1.3 billion in 2022, growing 3.4%.
Verified
18Fidelity/surety losses hit $6.8 billion incurred in 2022, up 4.6%.
Verified
19Catastrophe losses estimated at $110 billion globally in 2023.
Directional
20U.S. severe convective storm losses totaled $52 billion in 2023.
Single source
21Auto liability loss ratio expected to hit 78% in 2023.
Verified

Loss and Claim Statistics Interpretation

While Mother Nature threw a $103 billion tantrum and America's drivers apparently forgot how to park, the property and casualty insurance industry's 2022 balance sheet reads like a receipt from a year-long demolition derby held during hurricane season.

Overall Market Statistics

1In 2022, U.S. property/casualty insurance industry direct premiums written reached $808.4 billion, a 7.2% increase from $753.8 billion in 2021.
Verified
2Global property/casualty insurance premiums grew by 2.1% in real terms in 2022 to $2.8 trillion, driven by exposure growth and rate increases.
Verified
3The U.S. P/C industry's net premiums earned in 2022 totaled $697.2 billion, up 6.8% from the previous year.
Verified
4Property/casualty insurance penetration in the U.S. stood at 3.4% of GDP in 2022, compared to 2.9% in 2019 pre-pandemic.
Directional
5In 2023 Q1-Q3, U.S. P/C direct premiums written surged 10.5% year-over-year to $687.3 billion.
Single source
6Global non-life insurance market size was valued at $2.92 trillion in 2023, projected to reach $4.15 trillion by 2030 at a CAGR of 5.1%.
Verified
7U.S. P/C insurers held $1.2 trillion in policyholder surplus as of year-end 2022, up 4.1% from 2021.
Verified
8The property/casualty sector accounted for 48% of total U.S. insurance premiums in 2022.
Verified
9In Europe, P/C premiums grew 4.2% nominally in 2022 to €1.1 trillion despite inflation pressures.
Directional
10U.S. catastrophe losses in 2022 totaled $165 billion before reinsurance, the fourth-highest on record.
Single source
11Asia-Pacific P/C premiums increased 3.8% in real terms in 2022 to $0.9 trillion.
Verified
12The global P/C insurance density was $336 per capita in 2022, up from $320 in 2021.
Verified
13U.S. P/C net premiums written grew 8.3% to $752 billion in 2023 full year estimate.
Verified
14Latin America P/C market expanded 6.5% in real terms in 2022 amid economic recovery.
Directional
15U.S. P/C industry's total admitted assets reached $2.3 trillion in 2022.
Single source
16In 2023, U.S. P/C net premiums written are projected to grow 7.5% to $809 billion.
Verified
17Global P/C premiums expected to rise 3.2% in real terms in 2023.
Verified

Overall Market Statistics Interpretation

Despite facing a staggering $165 billion in catastrophe losses, the U.S. property/casualty insurance industry defiantly shrugged it off, swelling its premiums by over 7% and padding its policyholder surplus to a comfy $1.2 trillion, proving that while roofs may blow away, the business of protecting them is built on bedrock.

Premium Statistics

1In 2022, direct premiums written for private passenger auto insurance totaled $289.5 billion, up 12.4% YoY.
Verified
2Homeowners insurance direct premiums written in the U.S. hit $124.2 billion in 2022, a 14.1% increase.
Verified
3Commercial multiperil premiums written grew to $143.8 billion in 2022, up 8.6%.
Verified
4Workers' compensation direct premiums were $59.4 billion in 2022, increasing 4.2% from 2021.
Directional
5Allied lines premiums reached $80.1 billion in direct premiums written in 2022, up 9.7%.
Single source
6Fire and allied lines direct premiums written totaled $45.6 billion in 2022, a 11.3% rise.
Verified
7Medical malpractice insurance premiums written were $11.8 billion in 2022, up 3.1%.
Verified
8Commercial auto direct premiums written amounted to $52.3 billion in 2022, increasing 7.9%.
Verified
9Other liability premiums hit $64.7 billion in 2022, a 6.5% growth.
Directional
10Farmowners multiple peril premiums were $4.2 billion in 2022 direct written, up 5.8%.
Single source
11Boiler and machinery premiums totaled $2.1 billion in 2022, increasing 4.7%.
Verified
12Inland marine direct premiums written reached $12.4 billion in 2022, up 10.2%.
Verified
13Ocean marine premiums were $3.5 billion in 2022, a 6.1% increase.
Verified
14Aircraft premiums written amounted to $1.8 billion in 2022 direct, up 3.9%.
Directional
15Fidelity/surety direct premiums totaled $10.2 billion in 2022, growing 5.4%.
Single source
16U.S. homeowners premiums projected to increase 8.2% in 2023 to $134.5 billion.
Verified
17Private passenger auto premiums forecasted at $325 billion DPW in 2023.
Verified
18Workers' comp premiums expected to grow 4.8% to $62.3 billion in 2023.
Verified
19Commercial casualty premiums projected up 9.1% in 2023.
Directional

Premium Statistics Interpretation

While insurers are busy counting their billions, policyholders everywhere are feeling the squeeze, with premiums soaring across the board like a determined but unwelcome balloon at every party.