Statutory data is incredibly comprehensive and detailed -- our product provides separate snapshots and analytics that simplify and clarify this huge data set.
Charlottesville, VA (Vocus) February 5, 2008
SNL Financial's newly released statutory insurance data shows that life and health insurance companies are on track for a strong 2007, while property and casualty insurance companies remain in the black.
According to SNL statistics, the U.S. life industry earned $28.0 billion in the first nine months of 2007, up from $26.0 billion a year ago. The health industry exhibited similar strength, with earnings coming in at $9.3 billion, up from $9.1 billion a year ago.
The U.S. P&C industry earned $48.9 billion through the first three quarters of 2007, down slightly from $49.5 billion in the year-ago period but still on pace to achieve a net underwriting profit for the third time in the last seven years. This is primarily due to reduced catastrophic losses: the California fire damage estimates were relatively low due to exclusions of housing built in windstorm areas and the hurricane season was considered minor.
SNL expects to make full-year 2007 data available in March 2008.
Thanks to an agreement with the National Association of Insurance Commissioners, SNL now publishes statutory data that includes annual, quarterly and state level data, loss reserve data (Schedule P), and investment and reinsurance detail. SNL also calculates group and industry data, numerous ratios, and provides market share and loss reserve analysis.
"We're thrilled to be integrating the robust statutory insurance data set with our existing best-in-class public company insurance data, M&A data, news and documents," said James Record, SNL director of product research and development. "Statutory data is incredibly comprehensive and detailed -- our product provides separate snapshots and analytics that simplify and clarify this huge data set."
Statutory insurance data consists of detailed financial and operating data filed quarterly for more than 5,000 public and private insurance companies. including line-of-business results, market share and geographic exposure, relevant calculated ratios, investment portfolio statistics, loss triangles, reinsurance relationships and more.
SNL's statutory insurance data is available exclusively as part of SNL Unlimited service for Financial Institutions. To find out more about SNL Unlimited, contact 866-296-3743.
About SNL Financial
SNL collects, standardizes and disseminates all relevant corporate, financial, market and M&A data -- plus news and analysis -- for the Energy, Banking, Specialized Financial Services, Insurance, Real Estate and Media & Communications industries. For more information, visit http://www.SNL.com .
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