The industry's most recent state-by-state comparison (year-end 2000) showed Texas ranked 2nd (behind Arizona) in number of domestic life and health insurance companies with 181, and 2nd (behind Vermont) in the number of domestic property and casualty companies with 245. In 2001, property and casualty insurers wrote over $24.9 billion in premiums. That year, there were 431,388 flood insurance policies in force in the state, with a total value of $63.4 million. Many residents of Texas also took out beach and windstorm insurance policies against hurricane and other windstorm damage in force. In 1998 the total value of this insurance was $11.6 billion.
In 2001, there were 10.2 million ordinary life insurance policies in force in Texas with a total value of $656.4 billion; total value for all categories of life insurance (ordinary, group, industrial, and credit) was $1,251.3 billion. Death benefits paid that year totaled $3.2 billion.
The insurance industry is regulated by the Texas Department of Insurance. TDI is headed by the commissioner of insurance, who is appointed by the governor and confirmed by the state senate for two-year terms beginning 1 February of odd-numbered years.