Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Arizona increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $130,857,000 in 2015. This steadily increased each year, with the exception of a slight dip from 2016 to 2017 ($130,048,000 to $126,495,000). The highest direct premiums written was $238,368,000 in 2022, which represents an 82% increase from 2015.

Direct premiums earned followed a similar trajectory, starting at $128,712,000 in 2015 and reaching $222,446,000 in 2022, marking a 73% increase. The largest year-over-year growth for direct premiums written was from 2021 to 2022 at 8%, increasing from $221,626,000 to $238,368,000. For direct premiums earned, the biggest jump was also from 2021 to 2022, growing 12% from $198,329,000 to $222,446,000.

Loss Ratios for Fire

The loss ratio data for Fire insurance in Arizona shows notable fluctuations over the yearst. The loss ratios range from a low of 32.81% in 2020 to a high of 58.58% in 2016. This variability suggests that there may be external influences affecting the performance of the insurance line. Between 2015 and 2016, the loss ratio increased by nearly 16 percentage points (from 42.62% to 58.58%), followed by a slight decrease to 55.1% in 2017.

From 2017 to 2018, the loss ratio dropped by more than 11 percentage points, reaching 43.9%. This decrease continued into 2019, landing at 48.24%. Interestingly, 2020 saw a significant improvement in loss ratio performance, reaching the lowest point in the dataset at 32.81%. However, the loss ratios in 2021 and 2022 increased again, settling at 51.23% and 56.02%, respectively.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for Allied Lines insurance in Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $119,302,000 in 2015. This increased each year, reaching a high of $238,405,000 in 2022 - nearly double the 2015 amount.

The direct premiums earned followed a similar trajectory, starting at $120,422,000 in 2015 and reaching $214,920,000 in 2022. This represents an increase of over 78% in direct premiums earned over the 8 year period. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $43,405,000 or 22.3% (from $195,000,000 to $238,405,000).

The smallest year-over-year increase was 0.6% between 2016 and 2017. For direct premiums earned, the biggest jump was also between 2021 and 2022, increasing by $34,849,000 or 18.9%. The smallest increase was 3.3% from 2016 to 2017.

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Arizona displays significant variation over the examined period. There's a noticeable peak in 2016 with a loss ratio of 122.65%, followed by a slight decrease to 106.14% in 2017, before rebounding to 121.45% in 2018.

However, a sharp decline was observed in 2019, when the loss ratio fell to 44.43%. This continued into 2020 with the lowest recorded ratio at 35.91%. In 2021, there was a minor increase to 45.21% and a more substantial rise to 62.12% 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 Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $64,136,000 in 2021, while the highest was $128,753,000 in 2022. This represents an increase of over 100% from 2021 to 2022.

Direct premiums written increased dramatically from 2015 ($18,919,000) to 2016 ($85,066,000), representing a 350% increase. However, direct premiums written then decreased in 2017 ($129,159,000) and 2018 ($96,739,000) before rising again in 2019 ($84,730,000) and 2020 ($102,466,000). Direct premiums earned followed a similar pattern to direct premiums written, but lagged behind somewhat. The lowest direct premiums earned was $16,250,000 in 2015, while the highest was $133,532,000 in 2022.

This represents an increase of over 720% from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by 100% (from $64,136,000 to $128,753,000). The smallest year-over-year increase was just 2.9%, from 2019 ($84,730,000) to 2020 ($102,466,000).

Loss Ratios for Multi-Peril Crop

The loss ratio data for Federal Multi-Peril Crop insurance in Arizona reveals considerable fluctuations from 2015 to 2022. The loss ratios have ranged from a low of 33.92% in 2019 to an extraordinary high of 158.92% in 2021. The year 2016 saw a significant drop to 39.92%, following an initial high loss ratio of 128.99% in 2015.

Then there was a dramatic increase in the loss ratios in 2017 and 2018, with values of 121.28% and 126.87%, respectively. The data exhibits a remarkable dip in 2019, down to 33.92%, followed by a steep increase to 151.48% in 2020 and peaking at 158.92% in 2021. Despite the high peak in 2021, the loss ratio in 2022 shows a decline to 118.52%.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Arizona decreased overall from 2015 to 2022. The highest amount of direct premiums written was $17,487,000 in 2015. This decreased to $13,528,000 in 2022, representing a 22.6% decline over the 8 year period.

Direct premiums earned followed a similar trend, starting at $17,719,000 in 2015 and ending at $14,503,000 in 2022, a 18.1% decrease. On a year-over-year basis, direct premiums written decreased each year from 2015 to 2019. The largest annual decline during this period was from 2016 to 2017, when premiums dropped by $1,596,000 or 9.5% (from $16,889,000 to $16,295,000). After a slight increase in 2020, direct premiums written resumed their downward trajectory in 2021 and 2022. The steepest annual drop was between 2021 and 2022, when premiums fell by $1,902,000 or 12.3% (from $15,450,000 to $13,528,000).

The trends for direct premiums earned are similar, with steady declines each year from 2015 to 2019, a small uptick in 2020, and then decreases again in the last two years. The biggest year-over-year drop was also between 2021 and 2022, falling by $1,206,000 or 7.7%.

Loss Ratios for Federal Flood

The Federal Flood loss ratio in Arizona from 2015 to 2022 presents some interesting patterns. The loss ratio kicked off at a modest 5.17% in 2015, nearly doubling to 9.11% in 2016. A substantial increase is seen in 2017, peaking to 17.07%. However, there was a decline to 12.6% in 2018.

In 2019, there was a dramatic drop to a mere 3.92%, the lowest ratio over the eight-year period. The data for 2020 is missing, leaving a gap in the trend analysis. The figures rebound in 2021 with the second-highest ratio of 18.06%, indicating a surge in claims or losses. By 2022, there's a decrease to 11.62%.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $2,460,000 in 2020. The highest was $4,211,000 in 2022. This represents an increase of 71% from the low in 2020 to the high in 2022.

Looking at direct premiums earned, the lowest amount was $2,415,000 in 2020 and the highest was $4,220,000 in 2022. This is a 75% increase. The direct premiums written and direct premiums earned both increased each year from 2020 to 2022. The largest year-over-year increase for direct premiums written was from 2021 to 2022, when it grew by $1,731,000 or 69.8% (from $2,480,000 to $4,211,000).

The smallest year-over-year increase for direct premiums written was 3.6%, from $3,268,000 in 2019 to $3,386,000 in 2020. For direct premiums earned, the largest increase was 70.9% from 2021 to 2022 (from $2,486,000 to $4,220,000) and the smallest was 0.6% from 2016 to 2017.

Loss Ratios for Private Crop

The loss ratio data for Private Crop Insurance in Arizona demonstrates significant volatility from 2015 to 2022. A striking peak is observed in 2015 at 498.42%, followed by a noteworthy decrease to 279.04% in 2016. This pattern of sharp decline continues until 2017, where the loss ratio hits a low of 32.52%. However, fluctuations resume in 2018, with the ratio surging to 254.86%.

Despite these fluctuations, a general downward trend is observed from 2019 to 2020, with loss ratios decreasing from 92.21% to a mere 9.16%. Yet, this trend was not sustained, with ratios escalating to 83.84% in 2021 and further to 171.34% in 2022.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and direct premiums earned for private flood insurance in Arizona fluctuated between 2016 and 2022. The lowest amount of direct premiums written was $6,260,000 in 2016. This increased dramatically to $11,069,000 in 2017, representing a growth of 77%. Direct premiums written continued to climb each year, reaching a peak of $18,821,000 in 2022. This represents an overall increase of over 200% from 2016 to 2022.

Direct premiums earned followed a similar upward trend, starting at $3,825,000 in 2016 and ending at $17,010,000 in 2022. This is a 345% increase over the period. The largest year-over-year growth for direct premiums earned was from 2016 to 2017, when it jumped by 154% from $3,825,000 to $9,719,000.

Loss Ratios for Private Flood

The Private Flood insurance loss ratio in Arizona revealed notable variations from 2016 to 2022. The loss ratio started at a mere 1.23% in 2016, followed by a marginal increase to 5.14% in 2017. In 2018, it declined to 1.06%, indicating a significant reduction in losses. However, this trend reversed in 2019, with the loss ratio escalating to 6.4% and further to 6.87% in 2020.

The most substantial jump was observed in 2021, where the loss ratio shot up to 22.79%, marking the highest percentage during this period. This sharp increase suggests a significant rise in claims, or a decrease in earned premiums, or both. In 2022, the loss ratio slightly dipped to 16.91%, but remained significantly higher than previous years.

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 Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $15,988,000 in 2015. The highest amount was $19,954,000 in 2022. This represents an increase of over 24% 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 2021 to 2022, when it grew by $3,266,000 or 17.5% (from $18,688,000 to $19,954,000). The smallest year-over-year increase was 1.2%, from $16,771,000 in 2017 to $16,767,000 in 2018. The direct premiums earned followed a similar trend, increasing steadily from $15,880,000 in 2015 to $19,218,000 in 2022.

The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 15.2% (from $18,261,000 to $19,218,000). The smallest increase was 0.6% from 2016 to 2017 (from $16,333,000 to $16,634,000).

Loss Ratios for Farmowners Multiple Peril

The Farmowners Multiple Peril loss ratio in Arizona displayed significant volatility from 2015 to 2022. The loss ratio percentages ranged from a low of 46.13% in 2020 to a high of 90.07% in 2022. The year 2022 stands out with a drastic jump in loss ratio, marking a sharp contrast to the preceding years.

Previous years such as 2017 and 2020 saw relatively lower loss ratios dipping below 50%. Conversely, the years 2016, 2018, and 2021 experienced higher loss ratios, above 60%.

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 Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $151,904,900 in 2015. The highest was $233,883,800 in 2022. This represents an increase of over 54% 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 $17,743,539 or 13.7% (from $206,429,900 to $233,883,800). The smallest increase was 6.2%, from $168,724,400 in 2018 to $179,539,500 in 2019. The trends for direct premiums earned are similar.

The lowest amount was $148,435,900 in 2015 and the highest was $218,992,000 in 2022, a 47% increase. The largest year-over-year growth was 13.9% between 2021 and 2022 (from $197,251,000 to $218,992,000). The smallest was 4.8% between 2018 and 2019.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril in Arizona demonstrates fluctuations from 2015 to 2022. Between 2015 and 2017, the loss ratios remained relatively consistent, with a mild increase from 47.57% in 2015 to 49.27% in 2016, and a slight decrease to 48.02% in 2017.

However, a noticeable jump occurred in 2018, with the loss ratio reaching 62.39%, followed by a decline to 56.25% in 2019 and 54.08% in 2020. Interestingly, the loss ratio increased significantly in 2021, reaching 70.84%, and continued to rise in 2022, peaking at 77.72%.

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 Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $610,403,000 in 2015. This increased each year, with the highest amount being $837,361,000 in 2022. This represents an increase of over 37% from 2015 to 2022.

Similarly, direct premiums earned started at $607,012,000 in 2015 and increased to $802,013,000 in 2022, a growth of over 32%. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $82,347,000 or 10.9% (from $755,014,000 to $837,361,000). The smallest year-over-year increase was from 2016 to 2017, when direct premiums written grew by $4,675,000 or 0.8% (from $615,540,000 to $620,115,000).

Loss Ratios for Commercial Multiple Peril

The loss ratio data for Commercial Multiple Peril in Arizona exhibits interesting shifts over the years. In 2015, the loss ratio was 42.64%, showing a moderate rise in 2016 to 48.26%. A minor dip to 46.26% was recorded in 2017, followed by a significant surge in 2018 to 58.26%.

However, the loss ratio fell back to 46.39% in 2019. The subsequent year, 2020, saw a moderate increase to 49.23%. A sharper upward trend was observed in the years 2021 and 2022, with the loss ratio percentages climbing to 56.59% and 68.58% respectively.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Arizona increased steadily from 2015 to 2019, before declining from 2020 to 2022. The lowest amount of direct premiums written was $109,755,000 in 2015. This increased each year, reaching a peak of $180,980,000 in 2019, representing a 65% increase over the 5 year period.

The direct premiums earned followed a similar trajectory, with the lowest amount being $100,623,000 in 2015 and the highest being $185,590,000 in 2019, an 84% increase. After hitting the high points in 2019, both direct premiums written and direct premiums earned decreased each year from 2020 to 2022. Direct premiums written dropped from $180,980,000 in 2019 to $148,499,000 in 2022, an 18% decrease over the 3 years.

Meanwhile, direct premiums earned declined from $185,590,000 in 2019 to $154,644,000 in 2022, a 17% decrease. The largest year-over-year increase for direct premiums written was from 2016 to 2017, when it grew by $14,907,000 or 15%. The smallest year-over-year increase was 1% from 2020 to 2021.

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Arizona exhibits a downward trend from 2015 to 2018, followed by a sudden increase in 2020. In the initial years, the loss ratios experienced a decline, with a drop from 24.13% in 2015 to 20.67% in 2016, which further fell to a low of 11.63% in 2017.

A significant decrease is observed in 2018 as the loss ratio plummeted to 2.45%. In 2019, the loss ratio slightly increased to 4.07%, and the most striking change occurred in 2020 when the loss ratio surged to 25.35%.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $19,143,000 in 2015. The highest amount was $37,252,000 in 2022. This represents an increase of nearly 95% 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 2021 to 2022, when it grew by $6,399,000 or 20.7% (from $30,853,000 to $37,252,000). The smallest year-over-year increase was just 2.8%, from $21,635,000 in 2019 to $22,234,000 in 2020.

Similarly, direct premiums earned also increased each year from 2015 to 2022. The lowest amount was $18,927,000 in 2015 and the highest was $34,377,000 in 2022, an increase of over 80% during this time. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 18.8% (from $28,951,000 to $34,377,000). The smallest increase was just 1.2% from 2018 to 2019.

Loss Ratios for Ocean Marine

The Ocean Marine loss ratio data for Arizona displays noteworthy oscillations over the observed period. In 2015, the loss ratio started at 37.68%, followed by a sharp increase to 70.43% in 2016 and a peak of 97.48% in 2017. In 2018, the ratio dropped slightly to 83.54% but still remained comparatively high.

However, 2019 marked a significant shift, with the ratio drastically plunging to 35.78%. The ratio then rose moderately to 54.9% in 2020 and 65.28% in 2021 before declining again to 47.08% in 2022.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written for inland marine insurance in Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $326,234,000 in 2015. The highest amount was $595,621,000 in 2022. This represents an increase of over 80% over the 8 year period.

The direct premiums written increased each year from 2015 to 2019, with the largest year-over-year increase occurring from 2018 to 2019, when direct premiums written grew by $44,810,000 or 11.6% (from $386,076,000 to $431,886,000). The direct premiums earned followed a similar trend, with the lowest amount being $311,889,000 in 2015 and the highest being $566,557,000 in 2022. This represents an increase of over 80% in direct premiums earned as well.

The largest single year increase in direct premiums written was from 2021 to 2022, when it grew by $93,631,000 or 18.4% (from $509,790,000 to $595,621,000). The smallest year-over-year increase was 2.9%, from $326,234,000 in 2015 to $329,388,000 in 2016.

Loss Ratios for Commercial Inland Marine

The loss ratio data for Inland Marine in Arizona displays some interesting patterns over the given years. The loss ratios experienced a peak of 58.87% in 2016, followed by a slight dip to 52.02% in 2017. This trend continued into 2018, maintaining a similar level at 52.26%.

A slight decrease is observed in 2019 with a loss ratio of 50.88%. However, 2020 saw a remarkable surge to a high of 59.8%, the highest in the observed period. Interestingly, the years 2021 and 2022, witnessed a considerable drop with loss ratios of 46.9% and 46.63% respectively, indicating a downward shift.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $600,000 in 2019. The highest amount was $9,548,000 in 2021. This represents an increase of over 1,500% from 2019 to 2021.

Direct premiums written decreased each year from 2015 ($2,075,000) to 2019 ($600,000), before increasing again in 2020 ($1,418,000) and 2021 ($9,548,000). The largest year-over-year increase was between 2020 and 2021, when direct premiums written grew by 574% (from $1,418,000 to $9,548,000).

Direct premiums earned followed a similar pattern, with the lowest amount being $5,320,000 in 2019 and the highest being $11,722,000 in 2021. This was a 121% increase. The largest year-over-year growth in direct premiums earned was between 2021 and 2022, increasing 82% from $11,722,000 to $21,300,000.

Loss Ratios for Commercial Financial Guaranty

The loss ratio data for Financial Guaranty in Arizona is unavailable.

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 Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $205,261,000 in 2017. The highest amount was $239,672,000 in 2022. This represents an increase of over 16% from the low in 2017 to the high in 2022.

Direct premiums written decreased from $220,314,000 in 2015 to $205,261,000 in 2017, before increasing again to $239,672,000 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $10,713,000 or 4.7% (from $228,959,000 to $239,672,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the lowest amount being $207,487,000 in 2017 and the highest being $234,074,000 in 2022. This was an increase of nearly 13% from the low to the high. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $11,285,000 or 5.1% (from $222,789,000 to $234,074,000).

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratio data for Arizona shows interesting fluctuations over the years. In 2015, the loss ratio was 35.24%, which gradually increased to 40.51% in 2018. 

However, a significant jump was observed in 2019 when the loss ratio reached 49.50%, indicating either a sharp increase in losses or a decrease in earned premiums. The loss ratio then dropped to 40.98% in 2020. In 2021, the loss ratio dipped further to 37.03%, signifying a possible reduction in claims. Yet, the ratio surged to its highest at 52.33% in 2022.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $7,291,000 in 2017. The highest was $19,644,000 in 2022.

Direct premiums written increased overall during the period, with the exception of a dip from $8,841,000 in 2015 to $7,291,000 in 2017. Similarly, direct premiums earned were lowest at $7,750,000 in 2017 and highest at $19,383,000 in 2022. Direct premiums earned also increased overall, with a decrease from $8,936,000 in 2015 to $7,750,000 in 2017. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $2,632,000 or 15.5% (from $17,012,000 to $19,644,000).

The smallest year-over-year increase was just 1.0%, from $8,860,000 in 2018 to $8,960,000 in 2019. For direct premiums earned, the biggest year-over-year jump was from 2020 to 2021, increasing $5,632,000 or 41.9% (from $13,453,000 to $19,085,000). The smallest increase was 2.2%, from $8,525,000 in 2018 to $8,706,000 in 2019.

Loss Ratios for Earthquake

The Earthquake insurance loss ratio data in Arizona exhibits some notable patterns over the years. With unspecified data in 2015 and 2016, the loss ratio began to be recorded at 2.07% in 2017, which dropped slightly to 1.19% in 2018. However, 2019 saw a significant increase, with the loss ratio surging to 9.62%.

The data for 2020 and 2021 remains unspecified, but 2022 shows a loss ratio of 6.41%, lower than the 2019 peak but still higher than the 2017-2018 figures.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $800,271,000 in 2020. The highest was $865,450,000 in 2022.

Direct premiums earned followed a similar pattern, with the lowest being $802,031,000 in 2020 and the highest being $864,481,000 in 2022. Overall, there was an increasing trend in both direct premiums written and earned over the 8 year period. Direct premiums written increased from $841,693,000 in 2015 to $865,450,000 in 2022, representing a 2.8% increase.

Direct premiums earned grew from $841,876,000 in 2015 to $864,481,000 in 2022, a 2.7% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $26,170,000 or 3.3% (from $800,271,000 to $826,241,000). The smallest year-over-year increase was just 0.5% from 2017 to 2018 (from $843,349,000 to $859,650,000). For direct premiums earned, the biggest jump was 3.4% from 2020 to 2021 (from $802,031,000 to $818,012,000) while the smallest was 0.2% from 2016 to 2017.

Loss Ratios for Workers Compensation

Loss ratio data for Arizona Workers' Compensation is unavailable.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $36,666,000 in 2015. The highest amount was $80,409,000 in 2022. This represents an increase of over 119% 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 2019 to 2020, when it grew by $44,449,000 or 75.3% (from $59,079,000 to $63,528,000). The smallest year-over-year increase was 10.3%, from $40,930,000 in 2016 to $45,827,000 in 2017.

Similarly, direct premiums earned also increased each year from 2015 to 2022. The largest year-over-year increase was from 2019 to 2020, when direct premiums earned grew by $42,239,000 or 79.7% (from $52,979,000 to $63,218,000). The smallest increase was 1.7%, from $40,800,000 in 2016 to $41,481,000 in 2017.

Loss Ratios for Product Liability

The Products Liability loss ratio data from Arizona reveals interesting fluctuations across the years. In 2015, the loss ratio was at a moderate 58.92%, but it plunged drastically to 30.88% in 2016. In 2017, the ratio surged back to 58.44% before peaking at 65.77% in 2018.

A dramatic fall was seen in 2019, with the ratio plummeting to 15.99%, the lowest in the given period. However, since 2019, there has been a consistent increase in the loss ratio - from 35.39% in 2020 to 40.56% in 2021 and 48.1% in 2022.

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 Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $400,814,000 in 2015. The highest was $648,809,000 in 2022, representing an increase of over 60% 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 $90,902,000 or 15.3% (from $595,766,000 to $648,809,000). The smallest increase was 2.6%, from $555,385,000 in 2019 to $569,468,000 in 2020.

The trends for direct premiums earned are similar. The lowest amount was $392,157,000 in 2015 and the highest was $626,470,000 in 2022, an increase of almost 60%. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $39,618,000 or 6.8% (from $586,808,000 to $626,470,000). The smallest increase was 1.3%, from $470,235,000 in 2017 to $476,114,000 in 2018.

Loss Ratios for Private Passenger Auto

Analyzing the loss ratio data for Private Passenger Auto Total in Arizona from 2015 to 2022 reveals some interesting patterns. In 2015, the loss ratio stands at 68.24%, which increases to 73.38% in 2016.

However, it drops slightly to 68.61% in 2017, showing some instability during these years. From 2018 to 2020, there is a noticeable decline in loss ratios, from 64.61% to 55.79%. But the trend breaks in 2021, with a rise to 66.23%, which soars to 79.01% in 2022.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto insurance in Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $455,747,000 in 2015. The highest was $1,100,235,000 in 2022. This represents an increase of over 141% 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 $171,375,000 or 18.5% (from $928,603,000 to $1,100,235,000). The smallest year-over-year increase was 8.7%, from $630,399,000 in 2018 to $692,624,000 in 2019. The pattern for direct premiums earned is similar. The lowest amount was $438,151,000 in 2015 and the highest was $1,044,330,000 in 2022, an increase of over 138%.

As with direct premiums written, direct premiums earned increased each year from 2015 to 2022. The largest year-over-year increase was 16.9% from 2021 to 2022 (from $863,540,000 to $1,044,330,000) and the smallest was 8.5% from 2018 to 2019 (from $589,114,000 to $678,023,000).

Loss Ratios for Commercial Auto

The Loss Ratio data for Commercial Auto Total in Arizona over the given years reveals interesting trends. The loss ratios fluctuate between 62.89% in 2015 and 70.6% in 2016. The peak in 2016 is the highest amongst the recorded years, suggesting a high claim year or potential shifts in underwriting practices.

Post-2016, the loss ratio hovers around the 65-67% range until 2020. The year 2021, however, shows a reduction in loss ratio to 62.02%. However, the loss ratio climbs back up to 67.03% in 2022, close to the levels seen in 2018 and 2019.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $44,505,000 in 2016. The highest was $78,830,000 in 2021.

Direct premiums written increased overall during the period, with the exception of a dip from $56,999,000 in 2015 to $44,505,000 in 2016. The direct premiums earned followed a similar pattern, ranging from a low of $46,744,000 in 2017 to a high of $76,709,000 in 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $28,286,000 or 40%.

The smallest year-over-year increase was just 2.4% from 2021 to 2022. In most years, the direct premiums earned lagged slightly behind the direct premiums written. This gap was most pronounced in 2015 when premiums earned were $31,413,000 or 55% lower than premiums written.

Loss Ratios for Aircraft

Examination of the loss ratio data for Aircraft in Arizona over the years presents an interesting pattern. The data displays a significant decrease from 73.3% in 2015 to a low of 34.14% in 2018.

However, this is followed by a considerable increase in 2019 and 2020, peaking at 71.87%. The years 2021 and 2022 show a favorable shift with loss ratios dropping to 49.44% and 48.23%, respectively.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $12,449,000 in 2017, while the highest was $17,232,000 in 2022.

Direct premiums earned followed a similar pattern, with the lowest amount being $12,251,000 in 2017 and the highest being $15,764,000 in 2022. Looking more closely at the data: Direct premiums written increased each year from 2015 to 2016, from $12,516,000 to $12,986,000 (a 3.8% increase). 2017 saw a drop in direct premiums written to $12,449,000, before increasing again in 2018 to $13,147,000 (a 5.6% increase over 2017). The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $4,177,000 or 27.7% (from $15,055,000 to $17,232,000).

Direct premiums earned followed a similar pattern to direct premiums written, but lagged slightly behind in growth each year. For example, from 2021 to 2022 direct premiums written grew 27.7%, while direct premiums earned grew only 8.0% over the same period.

Loss Ratios for Fidelity

The loss ratio data for Fidelity insurance in Arizona presents a pattern of significant fluctuations across the examined years. The highest loss ratio was recorded in 2017 at 79.69%, while the lowest occurred in 2022 at 24.77%. Notably, there were three years with loss ratios above 70%: 2015 (75.47%), 2017 (79.69%), and 2020 (79.41%).

Conversely, the years 2019 and 2022 exhibited considerably lower loss ratios at 31.23% and 24.77%, respectively. After a high loss ratio in 2015, the percentage dropped to 47.37% in 2016 before rising again in 2017. This pattern repeated between 2018 and 2020, with a decrease to 45.52% followed by another increase to 79.41%. In more recent years, 2021 and 2022 show a trend of declining loss ratios with 45.02% and 24.77%, respectively.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and earned for surety insurance in Arizona increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $92,080,000 in 2015. This increased to $164,241,000 in 2022, representing an overall increase of 78% over the 8 year period.

Direct premiums earned followed a similar trend, growing from $89,939,000 in 2015 to $153,455,000 in 2022, a 71% increase. The largest year-over-year increase in direct premiums written was from 2016 to 2017, when it grew by $31,721,000 or 32%. The smallest year-over-year increase was 6% between 2020 and 2021. For direct premiums earned, the biggest jump was from 2017 to 2018, increasing by $8,435,000 or 8%. The smallest increase was 3% between 2019 and 2020.

In most years, direct premiums written exceeded direct premiums earned. The biggest gap was in 2017 when premiums written were $197,691,000 higher than premiums earned. This gap narrowed over time. By 2022, the difference was $10,786,000.

Loss Ratios for Surety

The loss ratio data for Surety in Arizona from 2015 to 2022 showcases notable variations. The lowest loss ratio was recorded in 2021 at 0.24%, while the highest was in 2019 at 20.45%. The substantial increase from 4.25% in 2015 to 20.45% in 2019 indicates a consistent upward trend over those years.

However, the data reveals a dramatic decline in 2020 to 6.22%. In the following years, the loss ratios further plummeted, with 2021 showing the lowest at 0.24% before slightly increasing to 2.93% in 2022.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in Arizona fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $15,948,000 in 2015. This increased to $16,694,000 in 2016 before jumping significantly to $33,030,000 in 2017. Direct premiums written continued to climb, reaching a peak of $40,200,000 in 2021. In 2022, direct premiums written decreased to $35,960,000.

Direct premiums earned followed a similar pattern but lagged behind direct premiums written, as expected. The lowest amount of direct premiums earned was $14,985,000 in 2016. This climbed steadily to $34,602,000 in 2021 before decreasing slightly to $31,627,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2016 to 2017, when it grew by $16,336,000 or 97.8% (from $16,694,000 to $33,030,000). The smallest year-over-year increase was just 2.1%, from $29,460,000 in 2019 to $30,220,000 in 2020.

Loss Ratios for Warranty

The loss ratio data for Warranty in Arizona shows considerable shifts over the observed years. A significant rise is seen from 50.07% in 2015 to a peak of 97.46% in 2017.

Following 2017, there's a visible decline in loss ratios, falling from 85.59% in 2018 to 73.04% in 2022. Notably, despite this overall downward trend, there's a brief increase to 81.74% in 2021.