Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in California increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $1,185,644,000 in 2015. This steadily increased each year, with the highest amount being $2,538,954,000 in 2022. This represents an increase of 114% over the 8 year period.

Direct premiums earned followed a similar trajectory, with the lowest amount being $1,199,572,000 in 2015 and the highest being $2,309,621,000 in 2022. This is also an increase of nearly 93% over the time period. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $326,469,000 or 17.9% (from $1,818,997,000 to $2,118,466,000). The smallest increase was 1.1% from 2016 to 2017.

For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $272,872,000 or 16.4% (from $1,663,057,000 to $1,935,929,000). The smallest increase was 0.8% from 2017 to 2018.

Loss Ratios for Fire

The loss ratio data for Fire insurance in California demonstrates distinct changes over the observed years. The most notable fluctuation occurs in 2017 and 2018, with loss ratios soaring to 97.22% and 148.61% respectively, which are significantly higher compared to other years.

Thereafter, in 2019, the loss ratio dramatically dropped to 34.81%. In the following year, 2020, the loss ratio rose to 67.38%, a considerable increase but still less than the peak of 2018. Most recent years, 2021 and 2022, show similar loss ratios of 40.62% and 40.06% respectively.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $788,076,000 in 2015. The highest was $1,476,730,000 in 2022. This represents an 87% increase over the 8 year period.

Direct premiums earned followed a similar trajectory, growing from $779,282,000 in 2015 to $1,381,365,000 in 2022, an increase of 77%. Looking year-over-year, the largest increase in direct premiums written was from 2020 to 2021, when it grew by $124,808,000 or 12%.

The smallest year-over-year increase was 1% between 2016 and 2017. For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $133,258,000 or 12%. The smallest increase was 2% from 2017 to 2018.

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in California reveals notable fluctuations over the years. In 2017, there is an unusually high loss ratio of 114.29%, which stands out as an outlier. The loss ratios then decrease to 63.81% in 2018 and 57.71% in 2019.

However, there is a significant uptick in 2020, reaching 75.52%. Looking at more recent years, the loss ratios show a decrease to 49.73% in 2021, followed by a rise to 62.7% in 2022.

Direct and Earned Premiums for Multi-Peril Crop

The data shows that direct premiums written for Federal Multi-Peril Crop insurance in California fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $397,005,000 in 2017. The highest amount was $632,398,000 in 2022.

The direct premiums written decreased from $488,837,000 in 2015 to $466,846,000 in 2016, a drop of 4.5%. It then decreased further to $397,005,000 in 2017, a 14.9% decrease from 2016. After hitting this low point in 2017, direct premiums written increased each year from 2018 to 2022. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $68,957,000 or 12.2% (from $563,641,000 to $632,398,000).

The direct premiums earned generally followed a similar pattern to the direct premiums written, with a low of $406,020,000 in 2017 and a high of $670,830,000 in 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $193,365,000 or 22.9% (from $547,365,000 to $670,830,000).

Loss Ratios for Multi-Peril Crop

The loss ratio data for Federal Multi-Peril Crop insurance in California displays interesting variations throughout the years. The highest loss ratio was recorded in 2015 at 157.04%, followed by a significant drop to 71.09% in 2016. This downward trend continued slightly into 2018, reaching the lowest point of 70.75%.

However, 2019 experienced a slight uptick to 81.59%. In 2020, there was a remarkable increase in the loss ratio to 124.88%, nearly doubling the previous year. This elevated level was maintained in 2021 with a loss ratio of 122.74%. The most substantial increase was observed in 2022, where the loss ratio surged to a peak of 188.77%.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in California fluctuated between 2015 and 2022. The direct premiums written ranged from a high of $163,226,000 in 2015 to a low of $121,951,000 in 2022. The direct premiums earned had a high of $167,453,000 in 2016 and a low of $135,230,000 in 2022. Overall, there was a downward trend in both direct premiums written and direct premiums earned over the 8 year period.

Direct premiums written decreased by 25.3% from 2015 to 2022, going from $163,226,000 to $121,951,000. Direct premiums earned decreased by 19.2% between 2016 and 2022, declining from $167,453,000 to $135,230,000. The largest year-over-year decrease in direct premiums written was from 2021 to 2022, when it dropped by $22,808,000 or 15.8% (from $144,759,000 to $121,951,000).

The smallest year-over-year decrease was just $321,000 or 0.2% between 2019 and 2020 (from $144,675,000 to $144,464,000). For direct premiums earned, the biggest year-over-year decline was from 2016 to 2017, falling by $16,555,000 or 9.9% (from $167,453,000 to $150,898,000). The smallest decrease was $10,000 or 0.0% from 2019 to 2020 (from $144,739,000 to $144,387,000).

Loss Ratios for Federal Flood

The Federal Flood loss ratio data for California displays notable variations over the specified years. In particular, the loss ratios range from a low of 1.21% in 2021 to a peak of 31.92% in 2017. Post-2017, the loss ratios exhibit a declining trend, with 11.1% in 2018 and 8.48% in 2019.

However, the data for 2020 is unavailable, limiting our ability to analyze any continuity in this pattern. In more recent years, the loss ratios remain relatively low, with 1.21% in 2021 and 1.96% in 2022.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in California fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $13,105,000 in 2019. The highest amount was $20,878,000 in 2017. This represents an increase of 59% from the low point in 2019 to the high point in 2017.

The direct premiums written decreased from $15,077,000 in 2015 to $13,105,000 in 2019, before increasing again to $18,252,000 in 2020. The direct premiums earned followed a similar pattern, with the low of $12,649,000 in 2019 and a high of $20,668,000 in 2017. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when premiums grew by $5,147,000 or 39% (from $13,105,000 to $18,252,000).

The largest year-over-year decrease was from 2017 to 2018, when direct premiums written fell by $5,490,000 or 26% (from $20,878,000 to $15,388,000).

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in California exhibits considerable fluctuations over the years. In 2016, there was a substantial increase in the loss ratio to 62.3%, up from 13.17% in 2015, which could indicate a challenging year for insurers.

However, the loss ratio dropped to 44.03% in 2017. A significant decline in the loss ratio occurred in 2018, reaching a low of 10.65%, followed by another increase to 45.95% in 2019. This pattern of alternating fluctuations continued, with a decrease to 14.81% in 2020 and a notable spike in 2021, where the loss ratio reached 63.53%. In 2022, the loss ratio again dropped to 13.63%.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in California fluctuated between 2016 and 2022. The lowest amount of direct premiums written was $48,786,000 in 2016. This increased 47% to $71,952,000 in 2017.

Direct premiums written continued to increase in 2018 to $83,599,000 before dropping to $59,230,000 in 2019. There was an increase again in 2020 to $74,595,000 and then more substantial increases in 2021 ($100,637,000) and 2022 ($113,701,000). For direct premiums earned, the lowest amount was $26,139,000 in 2016. This jumped 159% to $67,670,000 in 2017. Premiums earned grew more modestly after that, reaching $105,490,000 in 2022. This was a 303% increase from 2016.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew 35% from $74,595,000 to $100,637,000. The smallest year-over-year increase was just 2.9% between 2018 and 2019. For premiums earned, the biggest jump was the 159% increase seen from 2016 to 2017.

Loss Ratios for Private Flood

The loss ratio data for Private Flood insurance in California indicates notable variations over the years. In 2016, the ratio was at its lowest, standing at 2.07%, but saw a significant surge to 14.89% in 2017.

However, it dropped to 5.36% in 2018 before escalating dramatically to 33.11% in 2019. This peak represents the highest loss ratio during this period. In 2020, there was a decrease to 25.33%. Interestingly, the figures for 2021 and 2022 are almost identical, at 9.5% and 9.56% 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 California fluctuated but generally increased from 2015 to 2022. The lowest amount of direct premiums written was $206,932,000 in 2016, while the highest was $228,279,000 in 2022. This represents an increase of over 10% from the lowest to the highest year.

Direct premiums written increased each year from 2016 to 2022, with the exception of 2020 which saw a slight decrease from $215,936,000 in 2019 to $214,642,000 in 2020. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $7,165,000 or 3.2% (from $221,114,000 to $228,279,000). Direct premiums earned followed a similar pattern to direct premiums written over the years.

The lowest direct premiums earned was $206,303,000 in 2017, while the highest was $225,856,000 in 2022. This represents an increase of over 9% from lowest to highest. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $7,628,000 or 3.5% (from $218,228,000 to $225,856,000).

Loss Ratios for Farmowners Multiple Peril

The loss ratio data for Farmowners Multiple Peril in California presents several noteworthy trends and fluctuations over the years. From 2015 to 2016, there was a decrease in loss ratios from 45.28% to 39.92%,. However, 2017 saw a dramatic increase in loss ratios to 225.49%.

There was a notable drop from 2017 to 2018, with loss ratios decreasing to 71.87%. The downward trend continued in 2019, with a further decline to 50.56%. Interestingly, 2020 experienced a resurgence with a loss ratio of 102.53%, before declining again in 2021 and 2022 with loss ratios of 32.91% and 37.28%, 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 California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $7,462,747,000 in 2015. The highest amount was $12,456,479,000 in 2022. This represents an increase of over 67% 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 2020 to 2021, when it grew by $1,290,133,000 or 13%. The smallest year-over-year increase was 6.4%, from $7,837,021,000 in 2017 to $8,365,295,000 in 2018. Similarly, direct premiums earned also increased steadily over the period. It grew from $7,295,992,000 in 2015 to $11,825,323,000 in 2022, an increase of over 62%.

The pattern of increases matched that of the direct premiums written. The largest year-over-year jump was 13.4% between 2020 and 2021, while the smallest was 5.9% between 2017 and 2018.

Loss Ratios for Homeowners Multiple Peril

The loss ratio percentages for Homeowners Multiple Peril in California reveal distinct patterns over the years. The loss ratios experienced a significant increase from 54.58% in 2016 to an extraordinary 200.83% in 2017. This trend continued into 2018 with a ratio of 175.68%.

However, 2019 saw a dramatic decline to 31.11%. The following years, 2020 and 2021, saw modest growth in loss ratios to 38.52% and 43.19%. However, in 2022, the ratio increased to 53.66%.

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 California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $45,523,940,000 in 2015. The highest amount was $65,397,090,000 in 2022. This represents an increase of over 43% 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 $5,541,723,000 or 9.3% (from $59,819,860,000 to $65,397,090,000). The smallest year-over-year increase was 2.1%, from $46,978,540,000 in 2017 to $47,985,900,000 in 2018. The trends for direct premiums earned are similar. The lowest amount was $45,129,260,000 in 2015 and the highest was $62,977,800,000 in 2022, an increase of 40% over the period.

As with direct premiums written, direct premiums earned increased each year from 2015 to 2022. The largest year-over-year increase was 9.0% from 2021 to 2022 (from $57,510,540,000 to $62,977,800,000) and the smallest was 2.2% from 2016 to 2017.

Loss Ratios for Commercial Multiple Peril

An examination of the loss ratio data for Commercial Multiple Peril in California reveals notable trends across the years. The loss ratios exhibit a significant surge between 2016 and 2018, escalating from 51.39% to a peak of 72.94%.

This period of escalation is followed by a drop to 48.81% in 2019, marking a significant deviation from the preceding upward trend. From 2020 onwards, the loss ratios appear to stabilize in the mid-50s, with 57.28% in 2020, 52.29% in 2021, and 55.57% 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 California fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $458,719,000 in 2015. This increased to $519,520,000 in 2021, before dropping slightly to $504,379,000 in 2022.

Overall, direct premiums written increased by 10% from 2015 to 2022. Direct premiums earned followed a similar trend, starting at $403,934,000 in 2015 and reaching a peak of $589,949,000 in 2020, before dropping to $529,749,000 in 2022. This represents a 31% increase in direct premiums earned from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $16,126,000 or 3.3% (from $489,017,000 to $505,143,000).

The smallest year-over-year increase was just 0.2% from 2016 to 2017 (from $459,017,000 to $460,078,000). For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $46,956,000 or 8.7% (from $542,993,000 to $589,949,000). The smallest year-over-year growth was 1.0%, from $432,649,000 in 2016 to $436,306,000 in 2017.

Loss Ratios for Mortgage Guaranty

The loss ratio data for Mortgage Guaranty in California shows fascinating shifts over several years. In the earliest years, 2015 and 2016, the loss ratios were 8.17% and 7.27% respectively, showcasing a minor decrease. A significant drop to 4.13% is observed in 2017, which maintains in 2019 at 4.91% after an undisclosed value in 2018.

A stark anomaly is noticed in 2020 when the loss ratio escalated to 44.54%, a substantial rise that deserves deeper scrutiny. The ensuing year, 2021, saw a sharp decline to 3.65%, the lowest point in this dataset.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in California increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $280,178,000 in 2015. This steadily increased each year, with the highest amount being $487,834,000 in 2022.

This represents an increase of 74% over the 8 year period. Similarly, direct premiums earned started at $278,949,000 in 2015 and reached $469,343,000 by 2022, a 68% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $22,676,000 or 5.5% (from $411,528,000 to $434,204,000). The smallest year-over-year increase was just 0.7% from 2016 to 2017 ($278,951,000 to $281,890,000).

For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $36,054,000 or 9.3% (from $389,497,000 to $425,351,000). The smallest increase was 1.3% from 2015 to 2016 ($278,949,000 to $280,619,000).

Loss Ratios for Ocean Marine

The loss ratio data for Ocean Marine insurance in California shows some noteworthy trends over the years. The loss ratios experienced a significant increase from 48.78% in 2015 to a peak of 61.53% in 2017. This surge could indicate a heightened risk environment during these years.

Post 2017, there's a slight decrease in the loss ratio, dropping to 53.17% in 2018. However, the loss ratio increased again to 56.9% in 2019 but fell in the subsequent year to 52.08%. The consistency in loss ratio percentages from 2020 to 2022, with 53.99% in 2021 and 55.97% in 2022.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $2,613,836,000 in 2015. The highest was $4,211,409,000 in 2022. This represents an increase of over 61% 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 $416,097,000 or 11.1% (from $3,795,312,000 to $4,211,409,000). The smallest year-over-year increase was 2.9%, from $2,691,799,000 in 2016 to $2,922,588,000 in 2017.

The trends for direct premiums earned are similar. The lowest amount was $2,576,820,000 in 2015 and the highest was $4,026,770,000 in 2022, an increase of over 56% over the period. As with direct premiums written, direct premiums earned increased each year.

Loss Ratios for Commercial Inland Marine

The loss ratio data for Inland Marine in California indicates a fluctuation over the years. Between 2015 and 2017, there was a slight increase in loss ratios, with a peak at 50.83% in 2017. The loss ratio then dipped marginally to 49.67% in 2018 before dropping further to 46.2% in 2019.

This trend was disrupted in 2020, with a significant rise to 60.32%, the highest in the examined period. However, the loss ratio dropped again in 2021 to 48.13%, aligning more closely with the percentages seen in preceding years. By 2022, the loss ratio increased slightly to 50.21%.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in California fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $23,440,000 in 2018, while the highest was $63,924,000 in 2022.

Direct premiums written decreased from $51,102,000 in 2015 to $23,440,000 in 2018, representing a 54% drop over that period. After hitting this low point in 2018, direct premiums written then increased each year from 2019 to 2022. The direct premiums earned follow a similar pattern, with the lowest amount being $47,224,000 in 2022 and the highest being $212,598,000 in 2016.

Direct premiums earned fell steadily from 2016 to 2022, with the largest year-over-year decrease occurring between 2017 and 2018 when premiums dropped by 32% (from $154,699,000 to $105,794,000).

Loss Ratios for Commercial Financial Guaranty

The Financial Guaranty loss ratio data for California reveals some noteworthy patterns. In 2017, the loss ratio was 29.44%, but interestingly, no data is available for the years 2015, 2016, 2018, 2019, and 2020. In 2021, the loss ratio dropped to 15.04%, indicating a significant improvement compared to the last available data year of 2017.

However, there was a slight increase in 2022 to 22.67%, though still lower compared to 2017. The lack of data for several years makes it difficult to discern a clear trend, but the available figures indicate variable loss ratios.

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 California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $752,021,000 in 2015. This increased each year, reaching a high of $968,362,000 in 2022 - representing an overall increase of 29% over the 8 year period.

The direct premiums earned followed a similar trajectory, starting at $764,849,000 in 2015 and ending at $950,150,000 in 2022, a 24% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $98,130,000 or 11.8% (from $834,086,000 to $932,216,000).

The smallest increase was 1% between 2016 and 2017 (from $756,925,000 to $760,296,000). For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $42,678,000 or 5.5% (from $773,995,000 to $816,073,000). The smallest increase was 0.8% between 2016 and 2017 (from $754,064,000 to $747,157,000).

Loss Ratios for Medical Professional Liability

The loss ratio data for Medical Professional Liability in California shows varying patterns over the observed years. A gradual increase was noted from 2015's 38.64% to 2017's 46.78%, which might suggest an upward trend in claim costs or a decrease in earned premiums during these years.

Interestingly, there was a significant jump in 2019, with the loss ratio reaching a peak of 62.03%. This spike could be attributed to a surge in claims or inadequate pricing. Subsequently, in 2020 and 2021, the loss ratios hovered around 53%. However, 2022 showed a dramatic drop to 27.11%, the lowest over the eight-year span.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in California increased substantially from 2015 to 2022. The lowest amount of direct premiums written was $979,438,000 in 2015. This steadily increased each year, with the highest amount being $2,003,003,000 in 2022. This represents an increase of over 104% over the 8 year period.

Direct premiums earned followed a similar trend, growing from $1,005,906,000 in 2015 to $1,896,255,000 in 2022 - an increase of 88%. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $218,211,000 or 26.4% (from $1,602,808,000 to $1,785,290,000). The smallest year-over-year increase was just 2.5%, from $1,038,988,000 in 2017 to $1,104,192,000 in 2018.

Loss Ratios for Earthquake

The Earthquake insurance data for California displays notable fluctuations in the loss ratio percentage over the years. In 2015, the loss ratio was at a mere 0.25%. There was a substantial increase in 2017, with the loss ratio skyrocketing to 0.71%, although data for 2016 is unavailable for comparison.

In 2018, the loss ratio percentage surged to an all-time high of 2.96%. Data for 2019 is missing, but in 2020, the loss ratio decreased to 2.22%. The year 2021 saw a significant dip in the loss ratio to 0.1%, the lowest in the examined period, before rising to 1.63% in 2022.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in California fluctuated over the period from 2015 to 2022. The lowest amount of direct premiums written was $101,649,300,000 in 2020. The highest was $116,310,910,000 in 2022.

Direct premiums written increased from 2015 to 2016, going from $123,340,220,000 to $129,607,360,000, a rise of 5.1%. They then decreased slightly in 2017 to $127,657,580,000 before falling more significantly in 2018 to $123,228,250,000, a drop of 3.5% from the previous year. In 2019 direct premiums written fell again, this time by 7% to $114,378,920,000. The steepest decline came in 2020 when direct premiums dropped by 11.2% compared to 2019, falling to the period low of $101,649,300,000.

However, they rebounded strongly in 2021, increasing by 2.3% to $104,045,420,000, before jumping 11.7% to $116,310,910,000 in 2022, the highest level for the period. The trends for direct premiums earned are similar, with the lowest amount of $101,477,680,000 occurring in 2020 and the highest of $113,544,100,000 in 2022. The year-over-year changes closely mirror those for direct premiums written.

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio data for California between 2015 and 2022 shows an interesting pattern of decline and stabilization. Between 2015 and 2016, the loss ratio dropped from 56.33% to 51.52%. This downward trend continued through 2018, with loss ratios decreasing to 40.83%.

From 2018 to 2020, the loss ratios remained fairly stable, hovering around 40% (40.23% in 2019 and 40.14% in 2020). However, in 2021, there was an increase in the loss ratio to 48.0%. This figure then decreased slightly in 2022 to 44.77%.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $463,741,000 in 2015. The highest amount was $699,507,000 in 2022. This represents an increase of over 50% 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 $56,847,000 or 9.4% (from $605,601,000 to $612,448,000). The smallest year-over-year increase was 1.0%, from $527,757,000 in 2018 to $532,757,000 in 2019. Similarly, direct premiums earned also increased steadily over the period.

It grew from $453,544,000 in 2015 to $702,555,000 in 2022, representing a 55% increase. The largest jump was from 2019 to 2020 at $41,626,000 or 7.4% (from $564,663,000 to $606,092,000). The smallest increase was 0.3% from $503,803,000 in 2017 to $506,826,000 in 2018.

Loss Ratios for Product Liability

The Products Liability loss ratio data for California between 2015 and 2022 exhibits notable fluctuations and trends. Loss ratios initially show a mild increase from 41.15% in 2015 to 46.02% in 2016 and slightly decrease to 45.47% in 2017. A remarkable spike appears in 2018, with a loss ratio of 92.96%.

This outlier warrants attention and further investigation. From 2019 onwards, the loss ratios seem to stabilize somewhat, with figures of 41.21%, 51.88%, 54.58%, and 34.62% for the years 2019, 2020, 2021, and 2022, respectively.

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 California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $23,247,642,000 in 2015. The highest was $32,701,447,000 in 2022. This represents an increase of over 40% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022, with the exception of 2020 which saw a slight decrease from $31,122,151,000 in 2019 to $30,320,113,000 in 2020. The largest year-over-year increase in direct premiums written was from 2016 to 2017, when it grew by $20,048,290,000 or 8.5% (from $252,555,010,000 to $272,603,300,000).

The trends for direct premiums earned are similar, with the lowest amount being $22,749,007,000 in 2015 and the highest being $32,400,827,000 in 2022. This is an increase of over 42% over the period. The largest year-over-year increase for direct premiums earned was also from 2016 to 2017, when it grew by $19,788,820,000 or 8.4% (from $246,009,450,000 to $265,798,270,000).

Loss Ratios for Private Passenger Auto

The data on loss ratio percentages for Private Passenger Auto Total in California from 2015 to 2022 paints an insightful picture. The ratios saw an initial rise from 67.62% in 2015 to a peak of 72.88% in 2016, followed by a slight dip to 70.08% in 2017. The subsequent years continued this downward trend, with 2018 and 2019 recording relatively lower percentages of 65.71% and 64.49% respectively.

A notable shift was observed in 2020 when the loss ratio dipped to 52.7%, the lowest in the period under review. However, this trend was reversed in 2021 when the loss ratio climbed back up to 65.46%, and alarmingly, exceeded previous highs to reach 81.14% in 2022.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $3,269,812,000 in 2015. The highest amount was $7,172,223,000 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 45.3%. The smallest year-over-year increase was 6.8%, from $3,559,076,000 in 2016 to $3,902,771,000 in 2017. The direct premiums earned followed a similar trend, with the lowest amount being $3,089,707,000 in 2015 and the highest being $6,625,969,000 in 2022. This was an increase of 114% over the period.

The largest year-over-year increase in direct premiums earned was from 2020 to 2021, when it grew from $5,094,128,000 to $5,799,505,000. The smallest increase was 6.5%, from $3,745,361,000 in 2017 to $4,162,191,000 in 2018.

Loss Ratios for Commercial Auto

The data on Commercial Auto Total loss ratios in California from 2015 to 2022 show intriguing patterns. Loss ratios fluctuated between 69.86% in 2015 and 81.07% in 2022. The year 2016 saw an increase to 75.38%, followed by a slight rise to 75.62% in 2017.

However, loss ratios dropped to 71.89% in 2018. A rise was again observed in 2019, with the loss ratio reaching 74.94%. In 2020, the ratio decreased again to 70.15%. The loss ratio remained relatively stable at 69.7% in 2021, but 2022 saw a notable increase to 81.07%.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and earned for aircraft insurance in California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $139,449,000 in 2015. The highest amount was $261,210,000 in 2022. This represents an increase of over 87% 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 2020 to 2021, when it grew by $29,966,000 or 14.1% (from $212,172,000 to $241,838,000). The smallest year-over-year increase was 2.3%, from $147,417,000 in 2017 to $160,264,000 in 2018.

The direct premiums earned followed a similar trend, with the lowest amount being $137,390,000 in 2015 and the highest being $248,374,000 in 2022. This was an increase of over 81% over the period. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $30,660,000 or 15.3% (from $200,969,000 to $231,629,000). The smallest increase was 1.5%, from $149,925,000 in 2018 to $168,212,000 in 2019.

Loss Ratios for Aircraft

The loss ratio data for Aircraft in California showcases notable trends and fluctuations over the years. The loss ratio registers substantial volatility, with a low of 30.85% in 2015 and a high of 77.66% in 2020. There is a remarkable surge in 2017 and 2020.

In 2018 and 2019, there is a decline to 67.8% and 55.53% respectively. However, the substantial leap to 77.66% in 2020 demonstrates a reversal of this trend, which might be worth investigating. The years 2021 and 2022 show relatively consistent loss ratios of 66.39% and 65.07% respectively.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $121,784,000 in 2015. This increased each year, with the highest amount being $171,936,000 in 2022. This represents an increase of over 41% over the 8 year period.

The direct premiums earned followed a similar trajectory, starting at $120,563,000 in 2015 and reaching $166,937,000 in 2022, an increase of 38.5%. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $16,598,000 or 11.5% (from $144,369,000 to $160,967,000). The smallest year-over-year increase was just 2.3%, from $127,383,000 in 2017 to $129,893,000 in 2018.

Loss Ratios for Fidelity

The loss ratio data for Fidelity in California presents interesting patterns over the years, with noticeable fluctuations. In 2015, the loss ratio stood at 56.09%, followed by a substantial decrease to 31.96% in 2016.

The ratio then experienced a moderate increase to 43.05% in 2017 before dropping again to its lowest point of 30.82% in 2018. The subsequent years saw a rise in the loss ratio, with a noticeable spike in 2020 at 50.95%. However, this increase was followed by a decline in the loss ratios for 2021 and 2022, with relatively consistent values of 40.24% and 41.42%, respectively.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in California increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $700,960,000 in 2015. The highest amount was $1,050,332,000 in 2022. This represents an increase of nearly 50% 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 $120,180,000 or 12.9% (from $930,152,000 to $1,050,332,000). The smallest year-over-year increase was 1.0%, from $900,744,000 in 2019 to $917,252,000 in 2020.

The direct premiums earned followed a similar upward trend over the period, growing from $704,567,000 in 2015 to $982,943,000 in 2022. As with direct premiums written, the largest single-year jump was between 2021 and 2022 at 12.9% (from $916,295,000 to $982,943,000). The smallest increase was also 1.0%, from 2019 to 2020.

Loss Ratios for Surety

The Surety loss ratio data for California shows an interesting pattern of fluctuations over the years. In 2015, the loss ratio was relatively high at 27.06%, but then it dropped dramatically to only 4.66% in 2016. It then gradually increased to 13.75% in 2017 before dropping again to 7.22% in 2018.

A noticeable uptick occurred in 2019, with the loss ratio reaching 16.82%. This increase continued into 2020, where it peaked at 21.95%. However, the following year saw a significant reduction, as the loss ratio decreased to 8.85% in 2021. The year 2022 registered a moderate increase in the loss ratio to 14.04%.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in California increased overall from 2015 to 2022. The lowest amount of direct premiums written was $177,398,000 in 2015. This steadily increased each year, with the exception of 2018 which saw a slight decrease to $183,962,000 from $198,400,000 in 2017.

The highest direct premiums written was $275,137,000 in 2022, representing an increase of over 55% from 2015. Similarly, direct premiums earned started at $150,377,000 in 2015 and increased each year to reach $225,903,000 in 2022. This is an increase of over 50% over the 8 year period. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $39,615,000 or 16.8% (from $235,222,000 to $275,137,000).

The smallest year-over-year increase was just 2.8%, from $183,962,000 in 2018 to $189,135,000 in 2019. For direct premiums earned, the largest annual increase was also from 2021 to 2022, growing by $19,641,000 or 9.5% (from $206,262,000 to $225,903,000). The smallest increase was just 1.6% from 2016 to 2017.

Loss Ratios for Warranty

The Warranty loss ratio data for California demonstrates notable trends and fluctuations throughout the years 2015 to 2022. The loss ratios experienced a general increase from 2015 to 2018, with the ratio rising from 52.52% in 2015 to a peak of 61.26% in 2018. Interestingly, the loss ratio slightly decreased in 2019 to 60.91%, remaining relatively high compared to previous years.

A significant drop in the loss ratio occurred in 2020, with the percentage falling to 49.56%. This downward trend continued in the subsequent years, with 2021 and 2022 showing relatively consistent loss ratios of 47.38% and 46.86%, respectively.