Michigan insurance industry data

• The insurance industry in Michigan employs more than 111,000 people through insurance carriers, agencies, and brokerages and related services.

• For every three people employed by the insurance industry, one additional job is created elsewhere in the state’s economy.

• Unlike other industries in Michigan’s struggling economy, the insurance industry has actually grown — the insurance payroll grew by 20 percent from 2000 to 2003 to more than $3 billion.

• More than 1,400 insurance companies are licensed to do business in Michigan. More than 150 insurance companies are headquartered in the state.

Source: Michigan Assoc. of Insurance Agents.

Topics Data Driven Michigan Market