| Product Liability Insurance, 2012-2021 |
($000)
|
| Year |
Net premiums
written (1) |
Annual percent
change |
Combined
ratio (2) |
Annual point
change (3) |
| 2012 |
$2,575,225 |
11.0% |
102.7 |
-57.3 pts. |
| 2013 |
2,718,879 |
5.6 |
155.3 |
52.6 |
| 2014 |
2,674,183 |
-1.6 |
134.4 |
-20.9 |
| 2015 |
2,796,761 |
4.6 |
130.6 |
-3.7 |
| 2016 |
2,422,721 |
-13.4 |
124.1 |
-6.5 |
| 2017 |
2,689,115 |
11.0 |
102.1 |
-22.0 |
| 2018 |
2,794,716 |
3.9 |
122.3 |
20.2 |
| 2019 |
3,017,099 |
8.0 |
108.5 |
-13.8 |
| 2020 |
3,239,063 |
7.3 |
88.2 |
-20.3 |
| 2021 |
3,353,494 |
3.5 |
101.1 |
12.8 |
(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. |
|