This PowerPoint report provides the property/casualty (P/C) insurance industry outlook for 2016 along with a detailed look at profitability and growth in Texas markets. The P/C insurance industry entered 2016 in very strong financial condition. The industry now has $1 of surplus for every $0.77 of NPW, close to the strongest claims-paying status in its history. Due to persistently low interest rates, investment income fell in 2012, 2013 and 2014 but showed a small (1.9 percent) increase in 2015—another drop in 2016 seems likely. On average the Texas economy has grown twice as fast as that of the U.S. since 2010. The GDP growth average national rate is 2.1 percent; in Texas it is 4.0 percent. Overall, P/C Insurer profitability in Texas is above that of the U.S. overall over the past decade. The report closes with a look at how investment in insurance tech has increased in response to the on demand economy, bringing transformative changes in the American workforce and the P/C industry.
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