The 2007 Groundhog Survey, carried out by the Insurance Information Institute, suggested that due to relatively low catastrophe losses in 2006 and a strong performance in virtually all other major lines of property/casualty (P/C) insurance, the industry should achieve its best underwriting performance since 1936. Surveyed analysts expected the industry’s profitability to continue in 2007, although with a much smaller underwriting profit, and the trend of decreasing underwriting profits was expected to continue in 2008.

• U.S. insurance premiums totaled $955.6 billion in 2005, versus $956.9 billion in 2004. The 2006 total gross premiums were approximately $1,200 billion.
• Non-life insurance accounted for 54.8% of total gross premiums written in 2006.

• The transaction value of insurance-related mergers and acquisitions totaled $32.7 billion in 2005, versus $14.2 billion in 2004.

• There were 2,725 property/casualty insurance companies in the United States in 2005, versus 2,700 in 2004.