| Surety Bonds, 2014-2023 |
($000)
|
| Year |
Net premiums
written (1) |
Annual percent
change |
Combined
ratio (2) |
Annual point
change (3) |
| 2014 |
$5,000,382 |
2.7% |
69.5 |
-3.3 pts. |
| 2015 |
5,139,873 |
2.8 |
73.8 |
4.3 |
| 2016 |
5,138,543 |
0.0 |
72.0 |
-1.8 |
| 2017 |
5,390,826 |
4.9 |
72.3 |
0.3 |
| 2018 |
6,357,877 |
17.9 |
70.3 |
-2.0 |
| 2019 |
6,556,404 |
3.1 |
71.0 |
0.7 |
| 2020 |
6,691,307 |
2.1 |
78.1 |
7.1 |
| 2021 |
7,106,637 |
6.2 |
69.6 |
-8.5 |
| 2022 |
8,238,781 |
15.9 |
64.3 |
-5.3 |
| 2023 |
9,320,996 |
13.1 |
69.4 |
5.2 |
(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute. |
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