New Jersey Quick Stats
The 2013 insurance company claims payments in New Jersey as measured by direct property/casualty incurred losses, were
$11,400,000,000.
The insurance industry provided
98,284 jobs in New Jersey in 2013, according to the Department of Commerce. These jobs accounted for about
$10,066,035,000 in compensation in New Jersey.
$20,290,000,000 of the New Jersey gross state product was contributed by the insurance industry, accounting for 3.8% of the GSP.
Direct premiums written by property/casualty insurance companies in New Jersey totaled $18,982,651,000 in 2013.
Life/health premiums in New Jersey totaled $27,365,000,000 in 2013 (including life insurance, annuities, accident and health insurance, deposit type funds and other considerations).
Life insurance claims and benefits payouts in New Jersey totaled $18,700,000,000 in 2013. Includes life insurance, death benefits, matured endowments, annuity benefits and other life insurance benefits. This does not include accident and health.
The New Jersey surplus lines market accounted for $1,458,300,000 in gross premiums written in 2013, according to a survey by Business Insurance.
Premium taxes paid by insurance companies in New Jersey totaled $568,484,000 in 2013.
