Virginia Quick Stats
The 2013 insurance company claims payments in Virginia as measured by direct property/casualty incurred losses, were $5,700,000,000
The insurance industry provided 63,850 jobs
in Virginia in 2013, according to the Department of Commerce. These jobs accounted for about $4,326,876,000
in compensation in Virginia.
$5,725,000,000 of the Virginia gross state product was contributed by the insurance industry, accounting for 1.3% of the GSP.
Direct premiums written by property/casualty insurance companies in Virginia totaled $11,768,965,000 in 2013.
Life/health premiums in Virginia totaled $15,878,000,000 in 2013 (including life insurance, annuities, accident and health insurance, deposit type funds and other considerations).
Life insurance claims and benefits payouts in Virginia totaled $10,400,000,000 in 2013. Includes life insurance, death benefits, matured endowments, annuity benefits and other life insurance benefits. This does not include accident and health.
The Virginia surplus lines market accounted for $570,800,000 in gross premiums written in 2013, according to a survey by Business Insurance.
Premium taxes paid by insurance companies in Virginia totaled $392,397,000 in 2013.