The annual IIAT report of Texas premium volume, loss ratio and market share – the 2016 Market Share Report – is now available for viewing on iiat.org. This year’s report tells a story of slower premium growth and climbing loss ratios.
Here are some findings in the report.
- The 2016 aggregate loss ratio for all Texas companies for all lines of business was 74.4 percent (compared to 60.4 percent in 2015). The countrywide aggregate loss ratio was 60.3 percent (up slightly from 57.2 percent in 2015).
- Texas policyholders spent $50 billion on insurance premiums for all lines of insurance (up from $48.1 billion in 2015), with the national premium volume of $599 billion.
- Personal lines market share for Texas independent agency companies in 2016 decreased slightly, from 27.4 percent in 2015 to 26.6 percent in 2016. Market share for independent agency companies has remained virtually unchanged for 9 years, ranging from a low of 25.6 percent in 2008 to a high of 27.4 percent in 2015.