| Earthquake Insurance, 2014-2023 |
($000)
|
| Year |
Net premiums
written (1) |
Annual percent
change |
Combined
ratio (2) |
Annual point
change (3) |
| 2014 |
$1,641,847 |
3.5% |
34.0 |
3.7 pts. |
| 2015 |
1,649,753 |
0.5 |
28.1 |
-5.8 |
| 2016 |
1,535,142 |
-6.9 |
34.4 |
6.2 |
| 2017 |
1,511,543 |
-1.5 |
42.3 |
8.0 |
| 2018 |
1,827,543 |
20.9 |
44.3 |
2.0 |
| 2019 |
1,985,433 |
8.6 |
29.0 |
-15.3 |
| 2020 |
2,386,798 |
20.2 |
38.1 |
9.1 |
| 2021 |
2,941,515 |
23.2 |
36.4 |
-1.7 |
| 2022 |
3,122,861 |
6.2 |
30.8 |
-5.6 |
| 2023 |
3,773,573 |
20.8 |
29.8 |
-1.0 |
(1) After reinsurance transactions, excludes state funds, such as the California Earthquake Authority, a not-for-profit, privately funded, publicly managed organization that provides coverage in California.
(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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