I’m looking for distinct differences in Property/Casualty Insurance and Personal Auto insurance.

Im analyzing various insurance companies and their respective loss, expense, and combined ratios and came across numbers for property/casualty and personal auto. I’m having a hard time finding distinct differences in the two. The way I’m interpreting this is that P&C is a broad term that encompasses Personal Auto as well as things like homeowners, renters, condo insurance. Does P&C incorporate most product lines of an insurance company (aside from life/health/medical) while Personal Auto, Homeowners, etc are subsets of that?


If the financial statement for the insurance carrier lists separate line items for Personal Auto and Property and Casualty, then one is not a subset of the other.

Typically Property and Casualty means commercial and personal property; buildings and their contents, as well as the liability insurance associated with them. This includes commercial auto, or fleet insurance and homeowners. Also included are lots of miscellaneous lines; for example, jewelry and camera floaters, builders risk, umbrella liability, and more.

Personal Auto is separate because it is a either a very large or very small percentage of the company’s lines and because it is complex and quite competitive making it difficult but not impossible to earn a profit. If Personal Auto is 70% of the business and the company is losing money year after year, investors and, I assume, regulators, would like to see the details.

The typical personal auto insurers, GEICO, Progressive, State Farm, et al, have a high percentage of their business in personal auto. On the other hand, there are specialty carriers whose business is almost entirely commercial; factories, warehouses, etc., whose personal auto line is almost zero.

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  • Great answer. I’m looking at a State Farm competitive analysis and they have separate items. P&C, Personal Auto, and Homeowners. I assume P&C would be what you state minus the homeowners in this case. – DukeLuke Apr 11 '18 at 15:11
  • Yes, exactly so. – chili555 Apr 11 '18 at 16:13

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