Most profitable states for P&C insurance
According to AdvisorSmith, the average profitability over the last five years for property and casualty insurance was 7%, and in 2019, the industry had approximately $687.5 billion in direct written premiums. To compile this information, AdvisorSmith looked at 19 lines of property and casualty insurance across all 50 U.S. states and the District of Columbia to determine the most profitable lines of insurance, and which states are bringing in the largest P&C profits. Profitability was determined relative to the net worth of each insurance company. When it comes to lines of insurance, they found mortgage guaranty to be the most profitable at 30.5%, followed by inland marine (20.2%) and fire (13.6%). The least profitable was commercial auto liability (1%), followed by accident and health (1.7%) and commercial auto total (1.7%). The slideshow above explores which states see the most profit across all P&C lines, according to AdvisorSmith's data.
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