INDIANAPOLIS (Feb. 25, 2005)––The National Association of Mutual Insurance Companies (NAMIC) now represents 43 percent of the U.S. property/casualty insurance market. This is an increase of $26 billion in premium and two percentage points over the previous year’s figures.
NAMIC’s more than 1,400 members account for $196.4 billion in annual direct written premium. NAMIC members account for 44 percent of the homeowners market, 38 percent of the automobile market, 39 percent of the workers’ compensation market, and 31 percent of the commercial property and liability market.
“NAMIC’s market share enjoyed strong growth last year as the association attracted new members and retained existing members by providing effective and high-value advocacy, public policy and member services,” said NAMIC President Chuck Chamness. “Our focus on providing strong membership value, broad grassroots strength and enhanced public policy development has helped NAMIC further its position as the largest property/casualty insurance company trade association in the United States.”
Posted: Friday, February 25, 2005 12:00:00 AM. Modified: Thursday, March 16, 2006 8:44:37 AM.
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