Insurer Trade Group Reports Growth in 2004

The National Association of Mutual Insurance Companies reported that the trade association of insurance companies showed an increase of $26 billion in premium and two percentage points over the previous year’s figures premium volume and now represents 43 percent of the U.S. property/casualty insurers nationwide.

“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.

NAMIC total membership includes more than 1,400 members, which represent $196.4 billion in annual direct written premium. NAMIC reports that its 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.