Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Alabama generally increased from 2015 to 2022. The lowest amount of direct premiums written was $179,924,000 in 2017. This rose to $285,799,000 in 2021, representing an increase of 59%. The highest amount was $330,316,000 in 2022.

Direct premiums written increased each year from 2017 to 2022, with the largest year-over-year increase occurring between 2021 and 2022 when premiums grew by $44,517,000 or 15.6% (from $285,799,000 to $330,316,000). The smallest year-over-year increase was just 2.9%, from $207,973,000 in 2019 to $241,127,000 in 2020.

The direct premiums earned followed a similar pattern to the direct premiums written, with the lowest amount being $181,546,000 in 2017 and the highest being $307,004,000 in 2022. This represents a 69% increase over the period. The largest year-over-year increase in premiums earned was 15.4%, from $265,991,000 in 2021 to $307,004,000 in 2022.

Loss Ratios for Fire

The loss ratio data for Fire insurance in Alabama demonstrates interesting trends over the observed years. The loss ratios show considerable variation, from a low of 42.9% in 2015 to a peak of 107.33% in 2020.

The years 2016 and 2017 saw a steady increase in loss ratios, from 56.2% to 67.85%, continuing into 2018 with a slight rise to 68.78%. However, a decrease to 54.24% was observed in 2019, followed by a sharp surge in 2020 to over 100%. In 2021, the loss ratio dropped to 84.67%, then further declined to 52.09% in 2022.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in Alabama increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $196,178,000 in 2015.

This increased each year, with the exception of a slight dip from 2016 to 2017 ($183,882,000 to $181,316,000). The highest direct premiums written was $348,894,000 in 2022, representing an increase of over 77% from 2015. Similarly, direct premiums earned started at $193,594,000 in 2015 and increased each year to reach $327,099,000 in 2022 - a 69% increase over the period.

The largest year-over-year growth for direct premiums written was from 2020 to 2021, increasing by 21% from $255,287,000 to $310,039,000. The smallest increase was the aforementioned dip of 1.4% between 2016 and 2017. For direct premiums earned, the largest growth was 24% between 2020 and 2021 ($241,175,000 to $285,551,000) while the smallest was a 0.7% increase from 2017 to 2018.

Loss Ratios for Allied Lines

The loss ratio for Allied Lines in Alabama demonstrates distinct variations over the observed years. In 2015, the loss ratio was 37.28%, which spiked dramatically to 93.38% in 2016. It further escalated to an all-time high of 148.71% in 2017 before decreasing to 113.64% in 2018.

Interestingly, the loss ratio plunged to 35.79% in 2019, nearly matching the 2015 level. However, it skyrocketed to 211.81% in 2020, the highest throughout the period. This surge was followed by a drop to 131.44% in 2021 and a significant decrease to 40.72% in 2022.

Direct and Earned Premiums for Multi-Peril Crop

The data shows that direct premiums written and direct premiums earned for Federal Multi-Peril Crop insurance in Alabama fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $60,223,000 in 2016, while the highest was $111,401,000 in 2022.

Direct premiums written increased overall by 85% from 2015 to 2022. Direct premiums earned followed a similar pattern to direct premiums written. The lowest amount was $52,522,000 in 2016 and the highest was $111,055,000 in 2022. This represents an increase of 111% over the period. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by 30% from $85,481,000 to $111,401,000. The smallest year-over-year increase was just 1% between 2018 and 2019.

In most years, direct premiums earned were slightly lower than direct premiums written. The largest difference was in 2016 when direct premiums earned were $77 million lower than direct premiums written. This gap narrowed over time and by 2022 direct premiums earned were just $346,000 less than direct premiums written.

Loss Ratios for Multi-Peril Crop

The loss ratio data for Federal Multi-Peril Crop insurance in Alabama showcases significant fluctuations between 2015 and 2022. In the initial years, the loss ratios vary with 51.62% in 2015, a notable spike to 94.77% in 2016, followed by a decline to 50.98% in 2017. The subsequent years witness an upward trend with 69.02% in 2018 and 77.5% in 2019.

A remarkable shift occurs in 2020, as the loss ratio soars to 133.63%, representing the highest value in the given period. Interestingly, the loss ratio decreases considerably in the following years, with 56.94% in 2021 and 64.91% in 2022. These values are relatively closer to the 2015 and 2017 loss ratios.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Alabama fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $26,362,000 in 2015. This increased to a high of $29,648,000 in 2021 before decreasing to $27,066,000 in 2022.

For direct premiums earned, the lowest amount was $26,701,000 in 2016 and the highest was $28,653,000 in 2022. Overall, direct premiums written increased 18.4% from $26,362,000 in 2015 to $31,192,000 in 2022. Direct premiums earned saw a larger increase of 23.5% from $26,701,000 in 2016 to $32,971,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew 6.5% from $27,856,000 to $29,648,000. The smallest year-over-year increase was just 0.4% from 2017 to 2018. For direct premiums earned, the largest increase was 7.9% from 2019 to 2020, and the smallest was 0.5% from 2016 to 2017.

Loss Ratios for Federal Flood

An analysis of the Federal Flood loss ratio data for Alabama reveals interesting patterns and shifts over the given years. The loss ratio percentages demonstrate considerable variation, experiencing a low of 7.78% in 2018 and spiking to an unprecedented high of 388.92% in 2020.

The years 2015 and 2017 show relatively similar loss ratios of 24.2% and 25.46%, respectively. However, a drastic drop is observed in 2016, with a loss ratio of only 8.4%. A similar low trend continues in 2018 and 2019 with loss ratios of 7.78% and 7.86%. In 2020, the loss ratio surged dramatically, indicating an anomaly in the pattern. This was followed by a decrease to 50.23% in 2021, yet still higher than previous years. Finally, 2022 again showed a significant drop to 13.25%.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Alabama fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $612,000 in 2017, while the highest was $1,326,000 in 2018.

Direct premiums earned followed a similar pattern, with the lowest amount being $611,000 in 2017 and the highest being $1,322,000 in 2018. Overall, there was an increasing trend in direct premiums written and earned over the 8-year period.

Direct premiums written grew from $642,000 in 2015 to $1,085,000 in 2022, representing an increase of 69%. Direct premiums earned rose from $642,000 in 2015 to $1,084,000 in 2022, a 69% increase. The largest year-over-year growth for direct premiums written was between 2017 and 2018, when premiums jumped by 116% from $612,000 to $1,326,000. The smallest year-over-year increase was just 1.4% between 2021 and 2022. A similar pattern held for direct premiums earned.

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Alabama showcases dramatic fluctuations across the observed years. The ratios swung wildly, from a low of 17.34% in 2017 to an astounding high of 663.94% in 2020.

The years 2015 and 2018 also registered above-average loss ratios exceeding 100%, specifically 105.41% and 107.25%, respectively. In contrast, other years like 2016 and 2019 displayed considerably lower ratios of 37.01% and 42.11%, respectively. The year 2022 started with a moderate loss ratio of 48.85%.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in Alabama increased substantially from 2016 to 2022.

The lowest amount of direct premiums written was $3,005,000 in 2016. This steadily increased each year, with the highest amount being $14,593,000 in 2022 - nearly 5 times higher than 2016. Direct premiums earned followed a similar trend, starting at $2,055,000 in 2016 and reaching $13,480,000 in 2022. This represents a 556% increase over the 7 year period.

Looking year-over-year, the largest increase in direct premiums written was from 2020 to 2021, when it grew by $3,680,000 or 45%. The smallest yearly increase was 11% between 2018 and 2019. For direct premiums earned, the biggest jump was also from 2020 to 2021 - an increase of $3,107,000 or 43%. The smallest was the 15% increase from 2019 to 2020.

Loss Ratios for Private Flood

The loss ratio information for Private Flood in Alabama from 2016 to 2022 indicates a considerable range in values. The lowest loss ratio was 1.3% in 2018, while the highest was an extraordinary 105.34% in 2020.

The years 2016 through 2019 show relatively low loss ratios, fluctuating from 3.49% to 8.72%. However, a dramatic increase in 2020 to 105.34% is observed, suggesting a year of significant claims or losses. Post-2020 data indicates a sharp decrease, with 2021 and 2022 showing loss ratios of 24.31% and 22.85%, respectively.

Direct and Earned Premiums for Farmowners Multiple Peril

The data shows that direct premiums written and direct premiums earned for farmowners multiple peril insurance in Alabama increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $74,050,000 in 2015. This increased each year, reaching $94,675,000 in 2022 - an overall increase of 27.8% over the 8 year period. Direct premiums earned followed a similar pattern, starting at $73,433,000 in 2015 and ending at $91,919,000 in 2022, a 25.1% increase.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $3,819,000 or 4.5% (from $85,063,000 to $88,882,000). The smallest increase was 2.3% between 2018 and 2019. For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $3,586,000 or 4.3%. While the smallest increase was 2.2% from 2017 to 2018.

Loss Ratios for Farmowners Multiple Peril

An examination of the loss ratio data for Farmowners Multiple Peril in Alabama unveils noteworthy trends from 2015 to 2022. The loss ratios demonstrate considerable variability, with the lowest being 39.06% in 2015, and the highest reaching an astounding 110.77% in 2020.

Fluctuations are evident: there was a steady increase from 2015's 39.06% to 59.54% in 2017, followed by a significant jump to 99.46% in 2018. A drop to 56.12% occurred in 2019, only for it to spike dramatically to 110.77% in 2020. The two subsequent years, 2021 and 2022, saw a decrease to 53.4% and a moderate increase to 65.81%, respectively.

Direct and Earned Premiums for Homeowners Multiple Peril

The data shows that direct premiums written and direct premiums earned for homeowners multiple peril insurance in Alabama increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $1,657,676,000 in 2015. The highest was $2,337,728,000 in 2022. This represents an increase of over 41% over the 8 year period.

Direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $11,115,810,000 or 52.3% (from $21,262,180,000 to $23,377,280,000). The smallest year-over-year increase was 1.0%, from $1,692,359,000 in 2017 to $1,741,937,000 in 2018. The trends for direct premiums earned are similar.

The lowest amount was $1,636,815,000 in 2015 and the highest was $2,222,581,000 in 2022, an increase of over 35% in the 8 years. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 49.5% (from $2,030,260,000 to $2,222,581,000). The smallest was from 2016 to 2017 at 0.6% (from $1,661,615,000 to $1,670,939,000).

Loss Ratios for Homeowners Multiple Peril

The Homeowners Multiple Peril loss ratio data for Alabama displays intriguing fluctuations over the years. The loss ratios have varied greatly, reaching a low of 40.35% in 2016 and spiking to a high of 91.7% in 2020. The years 2017 (54.57%) and 2018 (63.73%) show an upward trend, then a decrease is observed in 2019 (47.67%).

The most significant surge is seen in 2020, where the loss ratios almost doubled compared to the previous year. The years 2021 and 2022, however, show a reduction with loss ratios of 56.41% and 53.95%, respectively.

Direct and Earned Premiums for Commercial Multiple Peril

The data shows that direct premiums written and direct premiums earned for commercial multiple peril insurance in Alabama increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $568,579,000 in 2015. The highest was $821,406,000 in 2022, representing an increase of over 44% over the 8 year period.

Direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $91,228,000 or 12.5% (from $730,178,000 to $821,406,000). The smallest increase was 1.4%, from $566,890,000 in 2016 to $581,809,000 in 2017.

Direct premiums earned followed a similar pattern, with the lowest amount being $565,779,000 in 2015 and the highest being $780,121,000 in 2022, a 38% increase. The largest year-over-year growth in direct premiums earned was 15.4%, from $647,191,000 in 2020 to $747,446,000 in 2021. The smallest increase was 0.8%, from $570,672,000 in 2016 to $572,356,000 in 2017.

Loss Ratios for Commercial Multiple Peril

The Loss Ratio Percentage data for Commercial Multiple Peril in Alabama presents some interesting trends between 2015 and 2022. Initially, the LRP rose slightly from 32.44% in 2015 to 33.84% in 2016. A more noticeable increase occurred in 2017, with the LRP reaching 41.8%.

The most significant change was in 2018, where the LRP surged to 65.18%, marking the highest rate in this period. This was followed by a drop to 41.93% in 2019, then another high of 67.55% in 2020. The LRP then started to decline in subsequent years, measuring 56.66% in 2021 and 47.2% in 2022.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Alabama fluctuated between 2015 and 2022. The direct premiums written ranged from a low of $59,553,000 in 2018 to a high of $66,986,000 in 2021. The direct premiums earned had a wider range, from a low of $59034,000 in 2015 to a high of $77,407,000 in 2020.

Looking specifically at the direct premiums written, there was a general downward trend from 2015 to 2018, with the amount decreasing from $68,348,000 in 2015 to $59,553,000 in 2018, a drop of 12.8%. This downward trend then reversed, with direct premiums written increasing each year from 2018 to 2021. The largest year-over-year increase was from 2019 to 2020, when direct premiums written grew by $4,335,000 or 7.1% (from $61,106,000 to $65,442,000). In 2022, direct premiums written decreased slightly to $66,127,000.

For direct premiums earned, there was an upward trend over the 2015-2022 period, with the amount growing from $59,034,000 in 2015 to $71,492,000 in 2022, an overall increase of 21.1%. The most significant increase was from 2019 to 2020, when direct premiums earned jumped by $6,268,000 or 8.8% (from $71,139,000 to $77,407,000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Alabama reveals a considerable shift over the observed years. The highest loss ratio was recorded in 2015 at 30.9%, and the lowest was in 2021 at 7.53%. The period from 2015 to 2018 was characterized by a steady decrease, with the loss ratio dropping from 30.9% to 10.95%. This trend was interrupted in 2020, when the loss ratio surged to 25.43%, before falling to 7.53% in 2021.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Alabama increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $36,388,000 in 2016. The highest amount was $58,994,000 in 2022. This represents an increase of over 60% over the 8 year period. 

The direct premiums written increased each year from 2016 to 2022, with the exception of 2017 which saw a slight decrease from $36,388,000 in 2016 to $36,805,000 in 2017. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $12,298,000 or 23.3% (from $52,696,000 to $58,994,000). 

The direct premiums earned followed a similar pattern, with the lowest amount being $36,039,000 in 2016 and the highest being $56,500,000 in 2022. This was an increase of over 56% over the period. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $10,943,000 or 21.0%.

Loss Ratios for Ocean Marine

The Ocean Marine Loss Ratio data in Alabama from 2015 to 2022 exhibits notable fluctuations and patterns. Beginning with a 58.11% loss ratio in 2015, there is a considerable decrease to 40.36% in 2016. However, a sharp increase occurs in 2017, with the loss ratio surging to 79.93%. Throughout 2018 and 2019, the loss ratios hover at 67.26% and 82.43%, respectively, indicating a period of relatively high values.

A remarkable spike is observed in 2020, as the loss ratio reaches a peak of 142.91%. This value is the highest in the given timeframe, and significantly higher than the previous years. In contrast, 2021 displays a substantial drop to 61.76%, followed by a further decline in 2022 to 34.39%, the lowest value in the data set.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in Alabama increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $276,700,000 in 2015.

This increased each year, with the exception of a slight dip from $365,829,000 in 2019 to $363,891,000 in 2020. The highest direct premiums written was $470,887,000 in 2022, representing an increase of over 70% from 2015. The direct premiums earned followed a similar trend, starting at $269,018,000 in 2015 and reaching $451,806,000 in 2022, a 68% increase.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $58,042,000 or 16%. The smallest year-over-year increase was just 2.2%, from $276,700,000 in 2015 to $282,538,000 in 2016.

Loss Ratios for Commercial Inland Marine

The Inland Marine loss ratio data for Alabama presents several noteworthy patterns and fluctuations over the years. Between 2015 and 2016, the loss ratios experienced a significant increase from 51.92% to 66.58%.

However, a decrease to 48.57% followed in 2017, marking the lowest point within the observed period. The loss ratios then exhibited a gradual uptrend from 2018 to 2020, with percentages of 53.2%, 58.55%, and a peak of 81.48%, respectively.

A slight decline occurred in 2021 with a loss ratio of 78.02%, yet it remained considerably high compared to earlier years. Interestingly, 2022 displayed a substantial drop to 50.68%, which is comparable to the loss ratio observed in 2015. The data indicates periods of volatility, especially between 2017 and 2022, with the most remarkable change observed from 2020 to 2022, where the loss ratio experienced a 30.8% decrease.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Alabama fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $1,345,000 in 2018, while the highest was $6,335,000 in 2020. This represents an increase of over 370% from the low in 2018 to the high in 2020.

Direct premiums written increased from $2,005,000 in 2015 to $2,848,000 in 2016 before jumping to $4,556,000 in 2017. There was then a large drop to $1,345,000 in 2018, followed by increases to $1,795,000 in 2019 and $6,335,000 in 2020. In 2021 direct premiums written fell to $3,838,000, and then dropped again to $2,739,000 in 2022.

Direct premiums earned followed a similar pattern, starting at $16,868,000 in 2015 and peaking at $7,739,000 in 2020. The lowest direct premiums earned was $3,476,000 in 2021. From the high in 2020 to the low in 2021, direct premiums earned decreased by 55%.

Loss Ratios for Commercial Financial Guaranty

The historical loss ratio data for Financial Guaranty in Alabama indicates notable shifts and trends during the years under review. In 2016, the loss ratio stood at a minimal 1.32%, which then dramatically escalated to 27.58% in 2017.

However, this spike was short-lived as the loss ratio took a downturn to 5.89% in 2018. In 2019, the data was not available, but by 2020, the loss ratio had further decreased to 4.55%. This trend was reversed in the subsequent years, with the loss ratio rising to 13.33% in 2021 and marginally increasing to 13.72% in 2022.

Direct and Earned Premiums for Medical Professional Liability

The data shows that direct premiums written and direct premiums earned for medical professional liability insurance in Alabama fluctuated between 2015 and 2021. The lowest amount of direct premiums written was $116,183,000 in 2016. The highest amount was $156,170,000 in 2021.

This represents an increase of over 34% from the low in 2016 to the high in 2021. The direct premiums written decreased from $122,485,000 in 2015 to $116,183,000 in 2016 before increasing each year from 2017 to 2021. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $25,121,000 or 19.2% (from $131,049,000 to $156,170,000).

The direct premiums earned followed a similar pattern to the direct premiums written, with the lowest amount being $120,915,000 in 2016 and the highest being $154,080,000 in 2021. This was an increase of over 27% from the low to the high. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $19,575,000 or 14.5% (from $134,605,000 to $154,080,000).

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratio data for Alabama highlights notable trends and variations across the years. The loss ratios demonstrate substantial fluctuations, with the lowest value of 7.02% in 2018 and the highest at 63.11% in 2022. Between 2015 and 2017, there was a considerable increase in loss ratios, starting at 21.23% in 2015 and nearly doubling to 47.41% in 2017. However, a sharp decline to 7.02% occurred in 2018, showcasing the unpredictable nature of these ratios.

In the subsequent year, the loss ratio surged to 56.48% in 2019, reflecting a significant increase compared to the previous year. From 2020 to 2021, the loss ratios remained relatively stable, with a slight decrease from 44.29% to 43.96%. However, in 2022, the loss ratio peaked at 63.11%, indicating the highest recorded value within the observed period. 

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in Alabama fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $6,663,000 in 2017. The highest amount was $11,509,000 in 2021.

This represents an increase of over 70% from the low point in 2017 to the high point in 2021. The direct premiums written decreased from $8,029,000 in 2015 to $6,663,000 in 2017, before increasing each year from 2017 to 2021. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $2,692,000 or 26.9% (from $10,014,000 to $11,509,000).

The direct premiums earned followed a similar pattern, with the lowest amount being $6,840,000 in 2017 and the highest being $11,122,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2021 to 2022, when it grew by $1,140,000 or 11.4% (from $9,982,000 to $11,122,000).

Loss Ratios for Earthquake

The earthquake loss ratio data for Alabama reveals a noticeable pattern of variability across the years. Data for 2015, 2016, 2018 and 2021 are unavailable, indicating potential lack of earthquake incidents or claims in these years. When incidents occurred, the loss ratios fluctuated, with the lowest being 2.73% in 2019 and the highest reaching 11.04% in 2020.

This sudden increase in 2020 indicates a year with notably higher claims. Meanwhile, the figures for 2017 and 2022 show a relatively consistent loss ratio of around 3%, suggesting a stable number of claims during these years.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Alabama fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $334,463,000 in 2018. The highest was $418,003,000 in 2022.

This represents an increase of over 25% from the low in 2018 to the high in 2022. Direct premiums written increased each year from 2018 to 2022. The largest year-over-year increase was from 2020 to 2021, when direct premiums written grew by $83,432,000 or 23.4% (from $356,133,000 to $394,565,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount being $336,127,000 in 2018 and the highest being $418,122,000 in 2022. This was an increase of over 24% between 2018 and 2022. The largest year-over-year increase for direct premiums earned was also between 2020 and 2021, growing by $33,373,000 or 9.5% (from $352,002,000 to $385,375,000).

Loss Ratios for Workers Compensation

The Workers Compensation Loss Ratio Percentage in Alabama shows interesting trends from 2015 to 2022. The ratios vary notably, from a peak of 59.46% in 2016 to a trough of 35.19% in 2021. The data illustrates a general decreasing trend from 2016 to 2021, with a slight uptick to 38.29% in 2022.

The span between 2015 and 2017 shows some instability with the ratio rising from 51.01% to 59.46%, then dropping to 49.92%. Thereafter, a consistent decline is observed till 2021. The years 2018, 2019, and 2020 show relatively stable ratios, ranging from 40.58% to 42.96%.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and earned for products liability insurance in Alabama fluctuated between 2015 and 2021. The lowest amount of direct premiums written was $30,411,000 in 2018, while the highest was $42,375,000 in 2021. This represents an increase of 39% over the 7 year period.

Direct premiums written increased each year from 2015 to 2017, going from $33,851,000 to $31,376,000. It then decreased in 2018 to $30,411,000 before increasing again each year to 2021. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $4,920,000 or 13.1% (from $37,455,000 to $42,375,000).

Direct premiums earned followed a similar pattern, with the lowest amount being $29,788,000 in 2018 and the highest being $40,560,000 in 2021. This was an increase of 36% over the period. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $5,365,000 or 15.2% (from $35,195,000 to $40,560,000).

Loss Ratios for Product Liability

The Products Liability loss ratio percentage in Alabama has exhibited notable fluctuations from 2015 to 2022. In 2015, a relatively high loss ratio of 61.54% was recorded, which then dipped to 43.1% in 2016 and further to 27.88% in 2017. Interestingly, a sharp increase to 54.89% was observed in 2018, but data for 2019 is unavailable.

The loss ratio significantly dropped to 19.13% in 2020, the lowest within the observed period. However, this downward trend did not persist, and the ratio rebounded to 47.85% in 2021, approximately the median of the values observed. The most recent year, 2022, showed a significant increase to 61.7%, nearly matching the 2015 level.

Direct and Earned Premiums for Private Passenger Auto

The data shows that direct premiums written and direct premiums earned for private passenger auto insurance in Alabama increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $2,790,374,000 in 2015. The highest amount was $4,065,444,000 in 2022. This represents an increase of over 45% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2016 to 2017, when it grew by $9,979,966,000 or 33%. The smallest year-over-year increase was 6.2%, from $3,712,051,000 in 2019 to $3,930,557,000 in 2020.

Similarly, direct premiums earned also increased steadily over the period. It was lowest at $2,744,915,000 in 2015 and highest at $4,002,779,000 in 2022, a 46% increase. The trends in year-over-year growth for direct premiums earned closely mirrored that of direct premiums written over the period.

Loss Ratios for Private Passenger Auto

The Private Passenger Auto Total loss ratio data for Alabama demonstrates interesting patterns over the years 2015 to 2022. The loss ratios fluctuated significantly, with a peak of 72.78% in 2022 and a trough of 55.94% in 2020. The loss ratios showed a general downward trend from 69.46% in 2015 to 55.94% in 2020.

However, this trend reversed in 2021 with a loss ratio of 64.67%, which further increased to 72.78% in 2022. The highest loss ratio was recorded in 2016 at 71.81%, closely followed by 2022. The lowest loss ratio was reported in 2020.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto insurance in Alabama increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $444,811,000 in 2015. This increased each year, reaching a high of $831,470,000 in 2022 - an increase of over 87% over the 8 year period.

Direct premiums earned followed a similar trend, starting at $430,325,000 in 2015 and reaching $810,445,000 in 2022, for a 88% increase. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $125,996,000 or 22.1% (from $569,818,000 to $624,814,000).

The smallest increase was 1.3% from 2016 to 2017 ($439,604,000 to $499,543,000). For direct premiums earned, the biggest jump was also from 2018 to 2019, increasing by $123,234,000 or 22.6% (from $544,917,000 to $598,151,000). The smallest increase was 1.0% from 2016 to 2017 ($434,345,000 to $478,450,000).The data shows that direct premiums written and direct premiums earned for commercial auto insurance in Alabama increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $444,811,000 in 2015. This increased each year, reaching a high of $831,470,000 in 2022 - an increase of over 87% over the 8 year period.

Direct premiums earned followed a similar trend, starting at $430,325,000 in 2015 and reaching $810,445,000 in 2022, for a 88% increase. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $125,996,000 or 22.1% (from $569,818,000 to $624,814,000).

The smallest increase was 1.3% from 2016 to 2017 ($439,604,000 to $499,543,000). For direct premiums earned, the biggest jump was also from 2018 to 2019, increasing by $123,234,000 or 22.6% (from $544,917,000 to $598,151,000). The smallest increase was 1.0% from 2016 to 2017 ($434,345,000 to $478,450,000).%MCEPASTEBIN%

Loss Ratios for Commercial Auto

The loss ratio data for Commercial Auto Total in Alabama exhibits interesting trends from 2015 to 2022. In 2015, the loss ratio was 64.77%, which steadily rose to a peak of 74.55% in 2019. However, this growth was not consistent, with a slight dip to 70.27% in 2018. Post-2019, there's a noticeable decline, with the loss ratio falling to 65.53% in 2020 and further to 60.78% in 2021.

In the most recent year, 2022, the loss ratio showed a minor increase, settling at 62.19%. While the data shows significant fluctuations over the years, the overall trend from 2015 to 2022 suggests an initial increase followed by a decrease, with a slight uptick in the latest year. The data variability ranges from a low of 60.78% in 2021 to a high of 74.55% in 2019.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Alabama fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $14,486,000 in 2017. The highest was $29,225,000 in 2022. This represents an increase of over 100% from the low in 2017 to the high in 2022.

Direct premiums written decreased from $16,211,000 in 2015 to $14,486,000 in 2017. They then increased each year after that, with the biggest jump coming between 2020 ($23,858,000) and 2021 ($26,269,000), an increase of 10.1%. Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount being $15,158,000 in 2017 and the highest being $27,555,000 in 2022. This was an increase of 81.7% between those years.

The largest difference between direct premiums written and direct premiums earned came in 2018, when premiums written were $17,541,000 and premiums earned were $16,504,000 - a difference of $1,037,000 or 5.9%. The smallest difference was in 2015, when premiums written were $16,211,000 and premiums earned were $16,429,000 - a difference of just $218,000 or 1.3%.

Loss Ratios for Aircraft

The loss ratio for Aircraft business in Alabama exhibits significant fluctuations over an eight-year period. The lowest ratio recorded was 16.82% in 2015, while the peak was observed in 2019 at 74.16%. A substantial increase was noted between 2015 and 2016, with the ratio nearly tripling from 16.82% to 54.79%.

Subsequently, 2017 saw a further increase to 63.85%, but a sharp drop to 24.67% followed in 2018. The ratio then climbed dramatically to its highest point in 2019, only to decrease again in 2020 and 2021 to 60.22% and 59.99%, respectively.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Alabama fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $1,345,000 in 2018, while the highest was $6,335,000 in 2020. This represents an increase of over 370% from the low in 2018 to the high in 2020.

Direct premiums written increased from $2,005,000 in 2015 to $2,848,000 in 2016 before jumping to $4,556,000 in 2017. There was then a large drop to $1,345,000 in 2018, followed by increases to $1,795,000 in 2019 and $6,335,000 in 2020. In 2021 direct premiums written fell to $3,838,000, and then dropped again to $2,739,000 in 2022.

Direct premiums earned followed a similar pattern, starting at $16,868,000 in 2015 and peaking at $7,739,000 in 2020. The lowest direct premiums earned was $3,476,000 in 2021. From the high in 2020 to the low in 2021, direct premiums earned decreased by 55%.

Loss Ratios for Fidelity

The Fidelity line of business in Alabama exhibits fluctuating loss ratio percentages over the years. In 2015, the loss ratio stood at 40.19%, dramatically falling to 10.7% in 2016. It then spiked to 48.31% in 2017, only to drop to 19.73% in 2018.

A staggering increase was seen in 2019, with the ratio soaring to 92.01%, the highest in the period under review. This was followed by a significant drop to 21.2% in 2020. The loss ratio then increased moderately to 39.74% in 2021, before declining again to 21.58% in 2022.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and earned for surety insurance in Alabama increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $65,448,000 in 2015.

This increased each year, with the exception of 2018 which saw a slight decrease to $70,824,000 from $72,764,000 in 2017. The highest direct premiums written was $109,808,000 in 2022, representing an increase of over 67% from 2015. Similarly, direct premiums earned started at $64,135,000 in 2015 and increased each year to reach $98,088,000 in 2022.

This is a 53% increase over the period. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $19,451,000 or 21.5% (from $90,357,000 to $109,808,000). The smallest year-over-year increase was just 2.2%, from $66,318,000 in 2016 to $67,764,000 in 2017.

Loss Ratios for Surety

The loss ratio data for Surety insurance in Alabama demonstrates notable shifts and patterns from 2015 to 2022. The most striking change occurs between 2015 and 2016, where the loss ratio plummets from 21.91% to a mere 0.25%. This steep decline is followed by a resurgence to 17.37% in 2017. From 2017 to 2019, the loss ratios exhibit relative stability, hovering around 17% with a slight decrease each year: 17.37% in 2017, 17.02% in 2018, and 16.28% in 2019.

A more pronounced downward trend is observed from 2019 to 2021, as the loss ratio drops from 16.28% to 9.07%. This represents a decrease of approximately 44% over these three years. In 2022, there is a minor increase in the loss ratio to 10.7%. Despite this uptick, the 2022 figure remains significantly lower than the 2015-2019 range.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in Alabama increased overall from 2015 to 2022. The lowest amount of direct premiums written was $9,157,000 in 2015. This steadily increased each year, with the exception of a slight dip from $11,464,000 in 2019 to $11,556,000 in 2020, reaching a peak of $16,655,000 in 2021.

The direct premiums earned followed a similar trajectory, starting at $6,709,000 in 2015 and reaching $14,166,000 in 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $5,099,000 or 44.1% (from $11,556,000 to $16,655,000).

The smallest year-over-year increase was just 1.7%, from $11,845,000 in 2018 to $12,045,000 in 2019. For direct premiums earned, the biggest jump was from 2021 to 2022, increasing by $3,065,000 or 27.6% (from $11,101,000 to $14,166,000). The smallest increase was 3.8%, from $7,051,000 in 2016 to $7,325,000 in 2017.

Loss Ratios for Warranty

The Warranty Line of Business in Alabama presents intriguing patterns in loss ratio percentages from 2015 to 2022. The data fluctuates significantly, with the lowest loss ratio recorded at 31.45% in 2016 and peaking at 69.19% in 2018. In 2017 there was a sharp increase from the previous year's 31.45% to 63.1%, an almost twofold increase.

The following year, 2018, saw the loss ratio percentages climb slightly higher to 69.19%, marking the highest point in the data set. From 2019 to 2020, a decrease from 61.94% to 50.67% was observed, indicating a relative drop in losses compared to earned premiums. The most recent years, 2021 and 2022, show loss ratios of 60.63% and 57.16%, respectively, maintaining relatively stable figures.