| Product Liability Insurance, 2007-2016 |
($000)
|
| Year |
Net premiums written (1) |
Annual percent change |
Combined ratio (2) |
Annual point change (3) |
| 2007 |
$3,265,035 |
-9.8% |
99.8 |
22.0 pts. |
| 2008 |
2,777,587 |
-14.9 |
124.0 |
24.2 |
| 2009 |
2,365,681 |
-14.8 |
124.0 |
(4) |
| 2010 |
2,050,619 |
-13.3 |
157.1 |
33.1 |
| 2011 |
2,320,540 |
13.2 |
160.0 |
2.9 |
| 2012 |
2,575,225 |
11.0 |
102.7 |
-57.3 |
| 2013 |
2,718,879 |
5.6 |
155.3 |
52.6 |
| 2014 |
2,674,183 |
-1.6 |
138.4 |
-16.8 |
| 2015 |
2,796,761 |
4.6 |
130.6 |
-7.8 |
| 2016 |
2,422,619 |
-13.4 |
124.1 |
-6.5 |
(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.
(4) Less than 0.1 point.
Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute. |
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