The Market Share report can help users understand the current insurance marketplace and opportunities and understand the evolving areas, review historical changes and verify assumptions. The 2023 report is based on 2022 data.
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This report graphically and numerically presents the United States property and casualty (P&C) insurance industry data from the independent agent's perspective and is broken into three key parts.
Market Share Report Summary: The Market Share Report summary emphasizes direct premiums, direct losses and the associated direct underwriting results
before reinsurance. This summary presents the 2022 direct written premium for all 32 lines of business reported by P&C insurers for
all distribution styles. Six of the 32 lines presented are not considered “traditional" independent agent P&C insurance lines and thus are not addressed in the section of this report focused on independent agent distribution. The six lines removed from individual in-depth review and comparison are: accident & health, aggregate write-in, credit insurance, financial guarantee insurance, mortgage guaranty and warranty.
Independent Agent Focused Lines: For the traditional 26 agent-focused lines of business, specific data is provided on loss ratios, growth rates, penetration rates by the various distribution styles and commission rates. In addition—and important to independent agents—a breakout of surplus lines activity is provided to show trends and utilization rates.
Each of the 26 agent-focused lines of business are detailed individually. Presented within the individual line-of-insurance pages are five-year premiums, loss and combined ratios, penetration rates by distribution style and information on the largest insurers in those lines. The independent agent-focused lines of business are presented in alphabetical order.
Supporting Information: Appendices are provided to: 1) detail the various approaches taken in compiling and presenting the information contained and presented in this report; 2) provide data definitions specific to the insurance industry; and 3) provide additional information that supports the findings of this report.
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