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Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Underwriting Expenses, 2023 (1)
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Expense Percent of premiums
Losses and related expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 85.0%
ÌýÌýÌýÌýIncurred losses 75.2
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.3
ÌýÌýÌýÌýAdjusting and other expenses incurred 7.5
Operating expenses (3) Ìý
Expense ratio 19.6%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 7.4
ÌýÌýÌýÌýTaxes, licenses and fees 2.2
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 5.5
ÌýÌýÌýÌýGeneral expenses incurred 4.5
Dividends to policyholders (2) 0.3%
Combined ratio after dividends (4) 104.9%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($294.0 billion in 2023).
(3) As a percent of net premiums written ($306.6 billion in 2023).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.

 

Archived Tables

PRIVATE PASSENGER AUTO INSURANCE UNDERWRITING SNAPSHOT, 2010 (1)
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Net premiums earned ($000) $158,649,806
Components of underwriting, as a percent
of net premiums earned		 Ìý
ÌýÌýÌýÌý Incurred lossesÌý 63.4%
ÌýÌýÌýÌý Loss adjustment expenses 12.1
ÌýÌýÌýÌý Total loss and loss adjustment expenses 75.5
ÌýÌýÌýÌý Commissions and brokerage expenses incurred 8.5
ÌýÌýÌýÌý Other underwriting expenses incurred 16.8
ÌýÌýÌýÌý Total underwriting expenses incurred 25.2
ÌýÌýÌýÌý Dividends to policyholdersÌý 0.6
ÌýÌýÌýÌý Investment gains on funds attributable to
ÌýÌýÌýÌý insurance transactions and other income		 3.5
Combined ratio after dividends 101.0
Overall operating ratio (2) 97.5

(1) After reinsurance transactions.
(2) Combined ratio after dividends, minus investment gains on funds attributable to insurance transactions and other income. Calculated by the ÐÓ°ÉÔ­´´ Information Institute, based on SNL data.

Source: SNL Financial LC.

 
PRIVATE PASSENGER AUTO INSURANCE UNDERWRITING SNAPSHOT, 2011 (1)
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Net premiums earned ($000) $162,134,529
Components of underwriting As a percent of net
premiums earned
ÌýÌýÌýÌý Incurred lossesÌý 64.7%
ÌýÌýÌýÌý Loss adjustment expenses 12.1
ÌýÌýÌýÌý Total loss and loss adjustment expenses 76.8%
ÌýÌýÌýÌý Commissions and brokerage expenses incurred 7.9
ÌýÌýÌýÌý Other underwriting expenses incurred 17.2
ÌýÌýÌýÌý Total underwriting expenses incurred 25.0%
ÌýÌýÌýÌý Dividends to policyholdersÌý 0.4
ÌýÌýÌýÌý Investment gains on funds attributable to
ÌýÌýÌýÌý insurance transactions and other income		 2.6
Combined ratio after dividendsÌý 102.3
Overall operating ratio (2) 99.7

(1) After reinsurance transactions.
(2) Combined ratio after dividends, minus investment gains on funds attributable to insurance transactions and other income. Calculated by the ÐÓ°ÉÔ­´´ Information Institute, based on SNL Financial data.

Source: SNL Financial LC.

 
PRIVATE PASSENGER AUTO INSURANCE INDUSTRY UNDERWRITING EXPENSES, 2012 (1)
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Expense Percent of premiums
LOSSES AND RELATED EXPENSES (2) Ìý
Loss and loss adjustment expense (LAE) ratio 76.7%
ÌýÌýÌýÌýIncurred losses 64.1
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.8
ÌýÌýÌýÌýAdjusting and other expenses incurred 9.9
OPERATING EXPENSES (3) Ìý
Expense ratio 24.8%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.3
ÌýÌýÌýÌýTaxes, licenses and fees 2.3
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 8.6
ÌýÌýÌýÌýGeneral expenses incurred 5.6
DIVIDENDS TO POLICYHOLDERS (2) 0.5%
COMBINED RATIO AFTER DIVIDENDS (4) 102.0%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($165.8 billion in 2012).
(3) As of percent of net premiums written ($167.8 billion in 2012).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: SNL Financial LC.

 
PRIVATE PASSENGER AUTO INSURANCE INDUSTRY UNDERWRITING EXPENSES, 2013 (1)
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Expense Percent of premiums
LOSSES AND RELATED EXPENSES (2) Ìý
Loss and loss adjustment expense (LAE) ratio 76.1%
ÌýÌýÌýÌýIncurred losses 63.5
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.8
ÌýÌýÌýÌýAdjusting and other expenses incurred 9.8
OPERATING EXPENSES (3) Ìý
Expense ratio 25.0%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.2
ÌýÌýÌýÌýTaxes, licenses and fees 2.3
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 8.8
ÌýÌýÌýÌýGeneral expenses incurred 5.8
DIVIDENDS TO POLICYHOLDERS (2) 0.6%
COMBINED RATIO AFTER DIVIDENDS (4) 101.7%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($172.5 billion in 2013).
(3) As a percent of net premiums written ($174.9 billion in 2013).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: SNL Financial LC.

 
PRIVATE PASSENGER AUTO INSURANCE INDUSTRY UNDERWRITING EXPENSES, 2014 (1)
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Expense Percent of premiums
LOSSES AND RELATED EXPENSES (2) Ìý
Loss and loss adjustment expense (LAE) ratio 77.4%
ÌýÌýÌýÌýIncurred losses 65.0
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.8
ÌýÌýÌýÌýAdjusting and other expenses incurred 9.6
OPERATING EXPENSES (3) Ìý
Expense ratio 24.5%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.9
ÌýÌýÌýÌýTaxes, licenses and fees 2.2
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 8.1
ÌýÌýÌýÌýGeneral expenses incurred 5.3
DIVIDENDS TO POLICYHOLDERS (2) 0.5%
COMBINED RATIO AFTER DIVIDENDS (4) 102.4%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($180.6 billion in 2014).
(3) As a percent of net premiums written ($183.4 billion in 2014).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: SNL Financial LC.

 
Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Underwriting Expenses, 2015 (1)
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Expense Percent of premiums
Losses And Related Expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 79.8%
ÌýÌýÌýÌýIncurred losses 67.5
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.7
ÌýÌýÌýÌýAdjusting and other expenses incurred 9.6
Operating Expenses (3) Ìý
Expense ratio 24.3%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.9
ÌýÌýÌýÌýTaxes, licenses and fees 2.1
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 7.9
ÌýÌýÌýÌýGeneral expenses incurred 5.3
Dividends To Policyholders (2) 0.5%
Combined Ratio After Dividends (4) 104.6%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($189.2 billion in 2015).
(3) As a percent of net premiums written ($192.8 billion in 2015).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.

 
Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Underwriting Expenses, 2016 (1)
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Expense Percent of
premiums
Losses and related expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 82.4%
ÌýÌýÌýÌýIncurred losses 70.3
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.6
ÌýÌýÌýÌýAdjusting and other expenses incurred 9.5
Operating expenses (3) Ìý
Expense ratio 23.4%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.7
ÌýÌýÌýÌýTaxes, licenses and fees 2.1
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 7.5
ÌýÌýÌýÌýGeneral expenses incurred 5.1
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 106.3%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($204.8 billion in 2016).
(3) As a percent of net premiums written ($207.4 billion in 2016).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.

 
Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Underwriting Expenses, 2017 (1)
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Expense Percent of premiums
Losses and related expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 79.5%
ÌýÌýÌýÌýIncurred losses 67.9
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.6
ÌýÌýÌýÌýAdjusting and other expenses incurred 9.0
Operating expenses (3) Ìý
Expense ratio 22.8%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.5
ÌýÌýÌýÌýTaxes, licenses and fees 2.1
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 7.2
ÌýÌýÌýÌýGeneral expenses incurred 5.0
Dividends to policyholders (2) 0.4%
Combined ratio after dividends (4) 102.7%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($217.4 billion in 2017).
(3) As a percent of net premiums written ($222.2 billion in 2017).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.

 
Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Losses And Underwriting Expenses, 2018 (1)
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Expense Percent of premiums
Losses and related expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 74.5%
ÌýÌýÌýÌýIncurred losses 63.6
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.7
ÌýÌýÌýÌýAdjusting and other expenses incurred 8.3
Operating expenses (3) Ìý
Expense ratio 22.8%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.8
ÌýÌýÌýÌýTaxes, licenses and fees 2.1
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 7.2
ÌýÌýÌýÌýGeneral expenses incurred 4.7
Dividends to policyholders (2) 0.5%
Combined ratio after dividends (4) 97.8%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($236.6 billion in 2018).
(3) As a percent of net premiums written ($240.9 billion in 2018).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence.

 
Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Underwriting Expenses, 2019 (1)
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Expense Percent of premiums
Losses and related expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 75.5%
ÌýÌýÌýÌýIncurred losses 64.6
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.8
ÌýÌýÌýÌýAdjusting and other expenses incurred 8.0
Operating expenses (3) Ìý
Expense ratio 22.7%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.6
ÌýÌýÌýÌýTaxes, licenses and fees 2.1
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 7.3
ÌýÌýÌýÌýGeneral expenses incurred 4.7
Dividends to policyholders (2) 0.6%
Combined ratio after dividends (4) 98.7%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($245.7 billion in 2019).
(3) As a percent of net premiums written ($247.7 billion in 2019).
(4) Sum of loss and LAE, expense and dividends ratios.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.

 
Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Underwriting Expenses, 2020 (1)
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Expense Percent of premiums
Losses and related expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 66.2%
ÌýÌýÌýÌýIncurred losses 55.9
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.4
ÌýÌýÌýÌýAdjusting and other expenses incurred 8.0
Operating expenses (3) Ìý
Expense ratio 24.3%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.9
ÌýÌýÌýÌýTaxes, licenses and fees 2.1
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 7.5
ÌýÌýÌýÌýGeneral expenses incurred 5.8
Dividends to policyholders (2) 2.0%
Combined ratio after dividends (4) 92.6%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($244.0 billion in 2020).
(3) As a percent of net premiums written ($243.7 billion in 2020).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded numbers.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.

 
Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Underwriting Expenses, 2021 (1)
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Expense Percent of premiums
Losses and related expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 78.2%
ÌýÌýÌýÌýIncurred losses 68.0
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.3
ÌýÌýÌýÌýAdjusting and other expenses incurred 7.8
Operating expenses (3) Ìý
Expense ratio 23.1%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.4
ÌýÌýÌýÌýTaxes, licenses and fees 2.1
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 7.4
ÌýÌýÌýÌýGeneral expenses incurred 5.1
Dividends to policyholders (2) 0.7%
Combined ratio afterr dividends (4) 101.9%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($249.8 billion in 2021).
(3) As a percent of net premiums written ($252.9 billion in 2021).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded numbers.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.

 
Private Passenger Auto ÐÓ°ÉÔ­´´ Industry Underwriting Expenses, 2022 (1)
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Expense Percent of premiums
Losses and related expenses (2) Ìý
Loss and loss adjustment expense (LAE) ratio 90.2%
ÌýÌýÌýÌýIncurred losses 79.9
ÌýÌýÌýÌýDefense and cost containment expenses incurred 2.4
ÌýÌýÌýÌýAdjusting and other expenses incurred 7.9
Operating expenses (3) Ìý
Expense ratio 21.7%
ÌýÌýÌýÌýNet commissions and brokerage expenses incurred 8.2
ÌýÌýÌýÌýTaxes, licenses and fees 2.1
ÌýÌýÌýÌýOther acquisition and field supervision expenses incurred 6.8
ÌýÌýÌýÌýGeneral expenses incurred 4.63
Dividends to policyholders (2) 0.4%
Combined ratio afterr dividends (4) 112.3%

(1) After reinsurance transactions.
(2) As a percent of net premiums earned ($261.4 billion in 2022).
(3) As a percent of net premiums written ($267.4 billion in 2022).
(4) Sum of loss and LAE, expense and dividends ratios. Calculated from unrounded numbers.

Source: NAIC data, sourced from S&P Global Market Intelligence, ÐÓ°ÉÔ­´´ Information Institute.