NAIC Financial Regulatory Services
P&C, Title, Life/A&H, Fraternal, and Health Industry Snapshots
for the Period Ended December 31, 2014

Below are the December 31, 2014 Industry Financial Snapshots for the Property/Casualty, Title, Life/A&H, Fraternal, and Health Industries. The Snapshots were produced from data filed with the NAIC as of March 4, 2015. Where applicable, the aggregated figures have been adjusted to eliminate affiliated amounts.

 

Property & Casualty
(In Millions) Chg. 2014 2013 2012 2011 2010
Operations
Net Premiums Written  3.4% $503,226 $486,480 $465,777 $446,637 $432,293
Net Premiums Earned 3.7% $494,555 $476,802 $457,913 $442,788 $430,556
Net Losses Incurred 7.0% $282,011 $263,581 $283,989 $296,242 $263,120
Loss Expenses Incurred 2.1% $58,138 $56,955 $56,554 $55,732 $54,312
Other Underwriting Expenses 1.6% $138,781 $136,591 $130,813 $124,769 $122,662
Net Underwriting Gain/(Loss) (26.0%) $14,889 $20,123 ($13,764) ($35,452) ($8,828)
Loss Ratio 1.6 pts 68.8% 67.2% 74.4% 79.5% 73.7%
Expense Ratio (0.3) pts 27.7% 28.0% 28.2% 28.3% 28.2%
Dividend Ratio (0.0) pts 0.7% 0.7% 0.6% 0.5% 0.7%
Combined Ratio 1.3 pts 97.2% 95.9% 103.2% 108.3% 102.6%
Net Cash from Operations (14.1%) $49,489 $57,637 $38,747 $17,960 $34,859
Liquidity Ratio 0.0 pts 77.8% 77.8% 81.6% 82.4% 80.5%
Investment Income
Net Investment Income Earned (1.3%) $45,981 $46,595 $48,042 $49,005 $47,620
Investment Yield (0.2) pts 3.2% 3.3% 3.6% 3.7% 3.7%
Net Realized Gain/(Loss) (37.9%) $11,684 $18,824 $9,032 $7,790 $8,233
Capital and Surplus
Net Income (19.5%) $56,103 $69,722 $36,485 $18,293 $36,400
Unrealized Gain/(Loss) (88.7%) $2,560 $22,652 $3,880 ($12,312) $12,747
Policyholders' Surplus 2.5% $703,250 $686,316 $615,942 $578,362 $587,653
Return on Surplus (5.7) pts 8.4% 14.2% 6.8% 1.0% 8.7%
             
 
Title
(In Millions) Chg. 2014 2013 2012 2011 2010
Direct Premiums Written (11.2)% $11,197 $12,606 $11,277 $9,256 $9,448
   Direct Ops. (4.9)% $1,263 $1,328 $1,319 $1,349 $1,340
   Non-Aff. Agency Ops. (12.4)% $6,821 $7,786 $6,662 $5,575 $5,782
   Aff. Agency Ops. (10.8)% $3,113 $3,492 $3,296 $2,332 $2,326
Title Premiums Earned (8.8)% $11,389 $12,490 $11,227 $9,364 $9,403
Loss & LAE Incurred (10.1)% $742 $825 $849 $1,102 $1,105
Operating Exp Incurred (10.6)% $10,659 $11,919 $10,871 $9,300 $9,597
Net Operating Gain/(Loss) 16.5% $799 $686 $503 $(22) $(214)
Loss Ratio (0.1)-pts 6.5% 6.6% 7.6% 11.8% 11.8%
Expense Ratio 0.8-pts 95.7% 94.9% 96.7% 100.9% 101.7%
Combined Ratio 0.7-pts 102.2% 101.5% 104.3% 112.7% 113.4%
Net Inv. Income Earned (4.7)% $261 $274 $321 $346 $334
Net Realized Gain/(Loss) (97.0)% $1 $26 $36 $34 $(80)
Net Inv. Gain (Loss) (12.6)% $262 $299 $356 $380 $254
Net Income 11.3% $855 $769 $721 $309 $31
Net Unrealized Gain/(Loss) (138.8)% $(46) $119 $176 $(101) $431
Net Cash from Operations (1.1)% $698 $706 $842 $167 $167
             
 
Health Entities
(In Millions, Except PMPM) Chg. 2014 2013 2012 2011 2010
Operations
Direct Written Premium 0.6% $462,103 $459,274 $443,537 $418,482 $394,700
Net Earned Premium 1.1% $455,670 $450,737 $433,211 $409,291 $385,832
Net Investment Income Earned (22.1)% $2,578 $3,311 $3,154 $3,245 $3,421
Underwriting Gain/(Loss) (23.3)% $7,395 $9,637 $11,675 $14,763 $12,714
Net Income/(Loss) (39.7)% $6,016 $9,978 $11,744 $13,909 $12,935
Total Hospital & Medical Exp (0.5)% $387,336 $389,206 $371,947 $346,059 $326,997
Loss Ratio (1.0) Pts. 84.8% 85.8% 85.7% 84.5% 84.8%
Admin Expense Ratio 1.6 Pts. 13.7% 12.1% 11.8% 11.9% 11.9%
Combined Ratio 0.5 Pts. 98.4% 97.9% 97.3% 96.4% 96.7%
Profit Margin (0.9) Pts. 1.3% 2.2% 2.7% 3.4% 3.3%
Net Premium PMPM (0.6)% $210 $212 $205 $204 $195
Claims PMPM (2.0)% $179 $183 $177 $173 $166
Cash Flow from Operations (34.9)% $5,282 $8,120 $13,203 $15,399 $12,201
Enrollment 2.9% 183 178 177 168 164
Capital and Surplus
Capital & Surplus (10.1)% $99,971 $111,140 $103,041 $94,642 $88,521
Assets
Net Invested Assets (8.2)% $150,045 $163,439 $155,331 $145,706 $135,589
Net Admitted Assets (1.4)% $211,428 $214,328 $201,801 $188,664 $174,217
Net Inv Inc & Realized Gain/(Loss) (13.9)% $3,993 $4,638 $4,417 $4,249 $4,814
Investment Yield (0.5) Pts. 1.6% 2.1% 2.1% 2.3% 2.7%
             
Note:  Aggregate results include only health entities who file annual statements with the NAIC. As of March 4, 2015, approximately 86% of expected health entities reported.
 
Life and Accident & Health Entities
(In Millions) Chg. 2014 2013 2012 2011 2010
Operations
Direct Written Premium (0.0)% $770,760 $771,097 $818,600 $774,409 $721,276
    Life Direct Written Premium 0.6% $166,108 $165,063 $174,040 $166,418 $158,418
    A&H Direct Written Premium (8.3)% $167,648 $182,768 $179,603 $178,437 $176,594
    Annuities 3.0% $250,182 $242,992 $267,004 $249,289 $230,262
    Deposits & Other Considerations 3.6% $186,822 $180,274 $197,952 $180,265 $156,002
Assumed Premium (17.7)% $81,883 $99,458 $89,723 $79,466 $66,938
Ceded Premium (48.4)% $102,759 $199,010 $151,105 $135,268 $122,031
Net Earned Premium 10.4% $641,241 $580,738 $642,945 $621,717 $581,368
Net Investment Income 2.0% $168,296 $165,027 $164,063 $164,688 $161,362
Benefits (6.2)% $249,020 $265,506 $255,689 $252,378 $246,698
Commissions & General Expenses (3.5)% $110,354 $114,342 $112,216 $109,867 $106,295
Operating Income (36.0)% $33,775 $52,772 $47,539 $20,181 $41,334
Realized Gains/(Losses) 88.9% ($1,334) ($12,026) ($9,448) ($8,536) ($16,025)
Net Income/(Loss) (20.4)% $32,441 $40,746 $38,091 $11,645 $25,309
Net Cash From Operations (8.6)% $129,105 $141,241 $130,485 $151,984 $130,432
Capital and Surplus
Unrealized Gains/(Losses) 638.3% $23,334 ($4,335) $5,025 $13,988 $7,995
Capital and Surplus 6.4% $350,438 $329,417 $323,409 $305,170 $303,834
Assets
Cash & Invested Assets 3.8% $3,612,681 $3,481,351 $3,401,885 $3,357,278 $3,194,139
Net Admitted Assets (excl. Sep. Accts.) 4.2% $3,831,555 $3,678,302 $3,587,718 $3,531,185 $3,354,615
Separate Account Assets 3.8% $2,417,188 $2,328,906 $2,053,201 $1,835,605 $1,840,187
Total Net Admitted Assets 4.0% $6,248,743 $6,007,208 $5,640,919 $5,366,790 $5,194,802
Net Investment Yield (0.1) pts. 4.7% 4.8% 4.9% 5.0% 5.2%
ROA (0.2) pts. 0.9% 1.1% 1.1% 0.3% 0.8%
             
Note: Adjustments to exclude affiliated amounts were made where appropriate.
Note: Figures reflect filings received as of March 4, 2015, and may change due to additional filings or amendments.
Note: Ceded premium declined 48.4% primarily due to decreases reported by 4 companies.
 
Fraternal Societies
(In Millions) Chg. 2014 2013 2012 2011 2010
Operations
Direct Written Premium 1.7% $11,206 $11,024 $11,218 $10,964 $10,972
    Life Direct Written Premium (0.8)% $3,996 $4,030 $4,238 $4,039 $3,781
    A&H Direct Written Premium (3.2)% $631 $652 $670 $688 $716
    Annuities 17.7% $6,578 $5,590 $5,560 $5,435 $5,552
    Deposits & Other Considerations (17.1)% $624 $752 $750 $802 $923
Ceded Premium (4.4)% $339 $355 $383 $418 $441
Net Earned Premium 3.3% $10,247 $9,919 $10,086 $9,759 $9,641
Net Investment Income 3.0% $5,595 $5,430 $5,387 $5,292 $5,035
Benefits 4.6% $11,087 $10,600 $11,272 $11,236 $11,197
Commissions & General Expenses (0.4)% $2,244 $2,253 $2,218 $2,158 $2,035
Operating Income (before refunds to members) 1.8% $1,643 $1,613 $1,478 $1,415 $1,381
Refunds to Members 1.2% $640 $633 $662 $795 $816
Realized Gains/(Losses) 64.1% $143 $87 ($12) ($44) ($48)
Net Income/(Loss) 7.3% $1,146 $1,068 $804 $576 $517
Net Cash From Operations 6.6% $4,114 $3,860 $4,721 $4,797 $5,099
Surplus
Unrealized Gains/(Losses) (70.2)% $118 $397 $151 ($125) $395
Surplus 6.2% $12,560 $11,828 $9,838 $9,165 $9,464
Assets
Cash & Invested Assets 4.0% $119,284 $114,711 $111,727 $104,801 $98,590
Net Admitted Assets (excl. Sep. Accts.) 4.0% $120,696 $116,071 $113,056 $106,083 $99,819
Separate Account Assets 13.3% $23,794 $21,007 $16,580 $13,746 $13,073
Total Net Admitted Assets 5.4% $144,490 $137,078 $129,637 $119,829 $112,892
Net Investment Yield 0.0 pts. 4.8% 4.8% 5.0% 5.2% 5.3%
ROA 0.1 pts. 1.0% 0.9% 0.7% 0.6% 0.5%
             
Note: Figures reflect filings received as of March 4, 2015, and may change due to additional filings or amendments.