Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and earned for fire insurance in Georgia increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $327,497,000 in 2015.

This increased each year, with the exception of 2016 which saw a slight decrease to $314,483,000. The highest amount was $548,080,000 in 2022, representing an increase of over 67% from 2015. Similarly, direct premiums earned started at $328,251,000 in 2015 and increased each year to reach $520,005,000 in 2022. This is a 58% increase over the period.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $59,088,000 or 12%. The smallest increase was just 2% between 2016 and 2017. For direct premiums earned, the biggest jump was also between 2021 and 2022 at $61,298,000 or 13%. The smallest increase was under 1% from 2015 to 2016.

Loss Ratios for Fire

The Fire insurance loss ratio in Georgia presents a fascinating pattern over the observed years. The data shows a steady increase from 40.21% in 2015 to a peak of 72.89% in 2019, followed by a decline. The most dramatic surge occurred between 2017 and 2018, with an increase of nearly 13 percentage points.

However, post-2019, the loss ratios began to decrease, falling to 64.29% in 2020. This downward trend continued into 2021, with a further decrease to 51.17%. Interestingly, the loss ratio in 2022 shows a slight uptick to 51.9%, remaining relatively consistent with the previous year.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and earned for allied lines insurance in Georgia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $266,334,000 in 2015. This increased each year, with the highest amount being $476,672,000 in 2022. This represents an increase of 79% over the 8 year period.

Direct premiums earned followed a similar pattern, growing from $265,666,000 in 2015 to $463,028,000 in 2022, an increase of 74%. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $31,424,000 or 16.4% (from $191,823,000 to $223,247,000).

The smallest increase was 1.9% from 2016 to 2017 ($261,163,000 to $263,009,000). For direct premiums earned, the biggest jump was also from 2019 to 2020, increasing by $19,452,000 or 15.5% (from $125,727,000 to $145,179,000). The smallest increase was 0.7% from 2016 to 2017 ($261,935,000 to $261,961,000).

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Georgia portrays varied trends over the years. In 2015, the loss ratio was at a lower level of 38.81%, subsequently increasing sharply to 73.4% in 2016. A peak was observed in 2017 with a staggering 119.24%, the highest throughout the specified years.

The ratio then fell to 77.65% in 2018, followed by a further decrease to 47.98% in 2019. An abrupt surge was again recorded in 2020, with the loss ratio ascending to 126.49%. The subsequent years, however, witnessed a considerable decline, with 59.9% in 2021 and 42.78% 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 Georgia increased substantially from 2015 to 2022.

The lowest amount of direct premiums written was $131,588,000 in 2015. This steadily increased each year, with the exception of a slight dip from $130,938,000 in 2016 to $140,675,000 in 2017.

The highest direct premiums written was $311,265,000 in 2022, which represents an increase of over 136% compared to 2015. Similarly, direct premiums earned grew from $135,081,000 in 2015 to $303,333,000 in 2022, an increase of over 124%.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $105,758,000 or 51.5% (from $205,507,000 to $311,265,000). The smallest year-over-year increase was just 2.8%, from $130,938,000 in 2016 to $140,675,000 in 2017.

Loss Ratios for Multi-Peril Crop

Analysis of the loss ratio data for Federal Multi-Peril Crop in Georgia yields several interesting findings. Loss ratios experienced considerable variation, reaching a peak of 172.51% in 2018, after a steady rise from 82.21% in 2015 to 108.17% and 107.15% in 2016 and 2017, respectively.

Following the 2018 peak, the loss ratios declined for three consecutive years, from 107.09% in 2019, to 93.81% in 2020, and further to 72.22% in 2021. However, a minor rebound was seen in 2022 with a slight increase to 73.02%.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Georgia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $40,202,000 in 2018, while the highest was $51,622,000 in 2015. Direct premiums written increased from 2015 to 2017, going from $51,622,000 to $52,426,000. There was then a large decrease from 2017 to 2018, dropping by $12,224,000 or 23%.

After 2018, direct premiums written increased each year through 2021, when they reached $45,855,000. From 2021 to 2022 they fell again, by $13,266,000 or 29%. The pattern for direct premiums earned is similar. The lowest amount was $40,562,000 in 2019 and the highest was $53,047,000 in 2015.

Premiums earned decreased from 2015 to 2018, before increasing again through 2020. They then dropped in both 2021 and 2022. The largest year-over-year increase in direct premiums written was from 2018 to 2019 at $2,972,000 or 7%. The largest decrease was from 2017 to 2018 at $12,224,000 or 23%.

Loss Ratios for Federal Flood

The Federal Flood loss ratio data for Georgia demonstrates notable fluctuations across the years. The most striking feature is the significant spike in 2017, reaching 98.33%, which contrasts sharply with the preceding year's 45.87% and the following year's low of 2.9%. From 2015 to 2016, the loss ratio increased more than fivefold, from 8.73% to 45.87%.

However, the overall trend from 2018 to 2022 shows a general decline in loss ratios, with a slight upswing in 2020 at 36.24%. The years 2019 and 2021 display relatively low loss ratios, with 6.43% and 11.86%, respectively. The most recent year, 2022, maintains a similar level at 11.06%.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Georgia fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $1,449,000 in 2015. The highest amount was $3,874,000 in 2019. This represents an increase of over 167% from 2015 to 2019.

The direct premiums written increased each year from 2015 to 2019, with the exception of 2017 which saw a decrease from $2,443,000 in 2016 to $1,695,000 in 2017. The largest year-over-year increase was from 2018 to 2019, when direct premiums written grew by $2,036,000 or 110.7% (from $1,838,000 to $3,874,000).

The direct premiums earned followed a similar pattern to the direct premiums written, with the lowest amount of $1,448,000 in 2015 and the highest of $3,855,000 in 2019. The largest year-over-year increase for direct premiums earned was also between 2018 and 2019, growing by $1,981,000 or 105.7% (from $1,874,000 to $3,855,000).

The smallest year-over-year increase for both direct premiums written and direct premiums earned was between 2021 and 2022. Direct premiums written grew by $41,000 or 1.1% (from $3,841,000 to $3,800,000) while direct premiums earned grew by $44,000 or 1.1% (from $3,865,000 to $3,809,000).

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Georgia presents compelling trends over the years. A steady decline is observed from 98.3% in 2015 to 55.65% in 2017. However, the year 2018 is an anomaly with an unprecedented loss ratio of 582.93%, indicating a significant increase in claims compared to premiums.

This drastic surge is followed by a sharp decrease to 64.13% in 2019. The subsequent years show a downward trend with the lowest loss ratio of 16.54% in 2020. An increase to 54.25% is then seen in 2021 before a decline to 29.11% in 2022.

Direct and Earned Premiums for Private Flood

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

The lowest amount of direct premiums written was $6,953,000 in 2016. This steadily increased each year, with the highest amount being $229,800,000 in 2022. This represents an enormous increase of over 3,200% over the 7 year period.

Similarly, direct premiums earned started at $4,721,000 in 2016 and grew to $212,030,000 by 2022. This is a growth of over 4,400%. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $45,314,000 or 245% (from $18,486,000 to $229,800,000). The smallest year-over-year increase was 19% between 2018 and 2019 (from $13,823,000 to $11,357,000).

For direct premiums earned, the biggest jump was also from 2021 to 2022, increasing by $56,351,000 or 359% (from $15,679,000 to $212,030,000). The smallest increase was only 1.8% from 2019 to 2020 (from $10,573,000 to $13,497,000).

Loss Ratios for Private Flood

A review of the loss ratio percentages for Private Flood in Georgia from 2016 to 2022 shows interesting trends and variations. The loss ratios vary significantly, from a minimum of 0.99% in 2016 to a peak of 61.54% in 2020. The years 2017 and 2018 witnessed a steady increase in loss ratios, with figures rising from 8.76% to 15.29% respectively.

However, 2019 saw a decline to 4.44%. The most drastic year-to-year change was between 2019 and 2020, with the loss ratio rocketing to 61.54%. In the subsequent years, 2021 data is unavailable, but in 2022, the loss ratio dropped to 12.18%.

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 Georgia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $118,657,000 in 2015. The highest amount was $168,597,000 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. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $10,264,000 or 7.0% (from $146,334,000 to $156,598,000). The smallest year-over-year increase was 1.7%, from $117,620,000 in 2016 to $119,955,000 in 2017.

The direct premiums earned followed a similar trend, increasing each year from 2015 to 2022. The lowest amount was $117,610,000 in 2015 and the highest was $162,459,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2020 to 2021, when it grew by $11,677,000 or 8.4% (from $139,326,000 to $151,703,000). The smallest increase was 0.4%, from $118,189,000 in 2016 to $118,303,000 in 2017.

Loss Ratios for Farmowners Multiple Peril

The Farmowners Multiple Peril loss ratio data for Georgia exhibits notable fluctuations over the years. Loss ratios range from a low of 44.87% in 2015 to a remarkable high of 171.04% in 2018.

The data shows two distinct periods of fluctuation: an increasing trend from 2015 to 2018 and a subsequent decreasing trend from 2018 to 2021. In the first period, the loss ratio increased steadily from 44.87% in 2015 to 55.1% in 2016, followed by a significant spike to 98.14% in 2017.

This upward trajectory culminated in 2018 with the loss ratio reaching an unprecedented 171.04%. However, the following years witnessed a decline in loss ratios, with 2019 at 62.37% and 2020 at 58.0%. The most recent years, 2021 and 2022, showcase relatively stable loss ratios of 46.94% and 54.55%, 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 Georgia increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $2,844,022,000 in 2015.

This increased each year, with the highest amount being $4,595,774,000 in 2022. This represents an increase of over 61% from 2015 to 2022. Similarly, direct premiums earned grew from $2,765,847,000 in 2015 to $4,330,029,000 in 2022, an increase of 56.7% over the period.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $1,199,114,000 or 31.7% (from $3,792,645,000 to $4,091,759,000). The smallest yearly increase was 6.9%, from $3,301,240,000 in 2017 to $3,346,785,000 in 2018.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril in Georgia presents a unique pattern of oscillation over the observed years. In 2015, the loss ratio stood at 55.85%, which then rose to 61.09% in 2016.

A significant jump was recorded in 2017 with a loss ratio of 75.05%, which slightly lowered to 74.46% in 2018. Interestingly, the loss ratio dropped to 55.79% in 2019, nearly returning to its 2015 level. However, the following year saw a surge to 72.21%. In 2021, there was a decline to 62.05%, but the loss ratio again climbed to 76.66% in 2022.

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 Georgia increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $981,971,000 in 2015.

This increased each year, with the highest amount being $1,485,347,000 in 2022. This represents an overall increase of over 50% in direct premiums written over the 8 year period. Similarly, direct premiums earned also increased each year from $977,285,000 in 2015 to $1,417,594,000 in 2022. This is an increase of over 45% over the period.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $147,182,000 or 11.9% (from $1,237,273,000 to $1,338,455,000). The smallest increase was 2.7% from 2018 to 2019, when direct premiums written grew by $29,253,000 (from $1,074,602,000 to $1,125,855,000).

Loss Ratios for Commercial Multiple Peril

The Commercial Multiple Peril loss ratio in Georgia demonstrates intriguing patterns from 2015 to 2022. The loss ratios show a substantial variation, with a low of 44.96% in 2015 and peaking at 66.63% in 2022. A noticeable increase was observed from 2015 to 2018, with the ratio climbing from 44.96% to 65.3%.

However, a declining trend was seen in the subsequent years, with the ratio dropping to 51.04% in 2020. In the following years, 2021 and 2022, the loss ratios rebounded to 56.75% and 66.63% respectively.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Georgia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $175,638,000 in 2015. This increased each year, reaching a high of $202,974,000 in 2022. That represents an increase of 15.6% over the 8 year period.

Direct premiums earned followed a similar trajectory, starting at $164,741,000 in 2015 and increasing to $209,387,000 in 2022. This was a 27.1% increase over the period. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $14,209,000 or 7.9% (from $179,689,000 to $190,898,000).

The smallest increase was just 1.4% from 2015 to 2016. For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $12,739,000 or 6.3% (from $201,646,000 to $213,854,000). The smallest increase was only 0.9% from 2016 to 2017.

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Georgia presents compelling fluctuations across the given years. A significant decline is observed from 2015's 21.21% to a low point of 1.38% in 2019. The most substantial jump is seen in 2020 with a loss ratio of 42.47%—a stark contrast from the preceding year. However, this surge was not sustained as the loss ratio sharply dropped to 6.1% 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 Georgia increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $55,871,000 in 2015. The highest amount was $90,225,000 in 2022. This represents an increase of over 60% 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 $6,892,000 or 8.5% (from $81,147,000 to $88,039,000). The smallest year-over-year increase was 2.3%, from $63,848,000 in 2017 to $64,503,000 in 2018.

Similarly, direct premiums earned also increased steadily over the period. It grew from $54,793,000 in 2015 to $86,302,000 in 2022, an increase of over 57%. The largest year-over-year growth in direct premiums earned was also between 2020 and 2021 at 9.0% (from $77,752,000 to $84,662,000). The smallest increase was 1.8% between 2017 and 2018 (from $62,899,000 to $62,025,000).

Loss Ratios for Ocean Marine

The Ocean Marine loss ratio data in Georgia displays considerable fluctuations across the years. In 2015, the loss ratio starts at 36.29%, followed by a significant increase to 57.83% in 2016, and then peaking at 74.43% in 2017. Interestingly, there is a sharp decline in 2018, with the loss ratio dropping to 32.82%.

However, this decrease is short-lived, as the loss ratio surges to 75.35% in 2019, marking the highest value within the observed period. A subsequent dip to 44.3% is observed in 2020, but the loss ratio exhibits an upward trend in 2021, reaching 64.22%.

Most notably, the data for 2022 reveals a striking loss ratio of 119.32%, which is substantially higher than any previous year. Throughout the analyzed years, the loss ratios demonstrate considerable variability, with the lowest value at 32.82% in 2018 and the highest at 119.32% 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 Georgia increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $569,795,000 in 2015. The highest amount was $1,021,608,000 in 2022. This represents an increase of over 79% 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 $121,548,000 or 13.5% (from $900,560,000 to $1,021,608,000). The smallest year-over-year increase was 6.8%, from $750,777,000 in 2020 to $900,560,000 in 2021.

Similarly, direct premiums earned also increased each year from 2015 to 2022. The lowest amount was $556,630,000 in 2015 and the highest was $976,078,000 in 2022, an increase of over 75% over the period. The largest year-over-year increase in direct premiums earned was 13.2% from 2021 to 2022 (from $848,290,000 to $976,078,000) and the smallest was 6.4% from 2020 to 2021.

Loss Ratios for Commercial Inland Marine

A review of the loss ratio data for Inland Marine insurance in Georgia from 2015 to 2022 reveals interesting patterns. The loss ratios demonstrate considerable variability, from a low of 44.84% in 2018 to a peak of 57.27% in 2020. The earliest observed loss ratio was 46.98% in 2015, which then increased to 53.7% in 2016.

A subsequent decline occurred, reaching the aforementioned lowest point in 2018. Following this, an upward trend was observed, with the ratio climbing to 47.63% in 2019 before hitting its highest point in 2020. The two most recent years, 2021 and 2022, showed a drop and slight rise to 50.4% and 50.96% respectively.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Georgia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $732,000 in 2020. The highest was $1,783,000 in 2021. This represents an increase of over 140% from 2020 to 2021.

Direct premiums written decreased from $875,000 in 2015 to $732,000 in 2020, before increasing to $1,783,000 in 2021. The largest year-over-year decrease was from 2019 to 2020, when direct premiums written fell by $236,000 or 24.4% (from $968,000 to $732,000).

Direct premiums earned followed a similar pattern, with the lowest amount being $5,670,000 in 2020 and the highest being $19,223,000 in 2017. This was a 239% increase from 2020 to 2017. The largest year-over-year decrease in direct premiums earned was from 2018 to 2019, falling by $3,806,000 or 32.8% (from $11,595,000 to $7,884,000).

Loss Ratios for Financial Guaranty

The loss ratio data for Financial Guaranty in Georgia presents notable patterns and variations during the years 2015 to 2022. The loss ratios display considerable inconsistency, with a peak of 40.48% in 2017 and a low of 0.0% in 2022.

In the earlier years, 2015 registered a modest loss ratio of 1.03%. However, data points for 2016 and 2018 were unavailable, marked by asterisks. This trend of missing data continued in 2020 and 2021, making it challenging to deduce a comprehensive analysis of the loss ratio trajectory.

Despite the gaps in data, there is a discernible decline in loss ratios from 2017 to 2019, dropping from 40.48% to 17.82%. This decrease is followed by another data gap in 2020 and 2021, ultimately leading to a loss ratio of 0.0% 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 Georgia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $241,936,000 in 2015. This increased each year, with the exception of 2016 which saw a slight decrease to $235,901,000. The highest amount of direct premiums written was $401,916,000 in 2022, representing an increase of over 66% from 2015.

Similarly, direct premiums earned started at $251,869,000 in 2015 and increased each year to reach $386,945,000 in 2022, a 54% increase. The largest year-over-year increase in direct premiums written was from 2017 to 2018, when it grew by $53,057,000 or 20.9% (from $254,148,000 to $307,205,000).

The smallest year-over-year increase was 1.7%, from $235,901,000 in 2016 to $240,241,000 in 2017. For direct premiums earned, the largest increase was also from 2017 to 2018, up 21.9% from $245,791,000 to $300,212,000. The smallest increase was 3.8%, from $251,869,000 in 2015 to $260,241,000 in 2016.

Loss Ratios for Medical Professional Liability

The loss ratio data for Medical Professional Liability in Georgia displays fascinating trends from 2015 to 2022. The loss ratios experienced substantial variation, with the lowest point at 41.64% in 2015 and peaking at 93.05% in 2020. A considerable increase was observed from 2015's 41.64% to 2016's 70.84%, persisting through 2017 and 2018 with 86.11% and 83.78%, respectively. 

This upward trend reached its zenith in 2020 at 93.05%, the highest loss ratio across the observed period. A notable decrease was then seen in 2021, with the loss ratio dropping to 71.58%. The loss ratio for 2022 remained near this level at 72.21%, suggesting potential stabilization. 

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in Georgia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $12,303,000 in 2016. The highest amount was $29,077,000 in 2021. This represents an increase of over 136% from the low in 2016 to the high in 2021.

The direct premiums written increased each year from 2016 to 2021, with the exception of 2022 which saw a decrease from $29,077,000 in 2021 to $22,143,000 in 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $8,794,000 or 43.4% (from $20,283,000 to $29,077,000).

The direct premiums earned followed a similar pattern to the direct premiums written, with the lowest amount being $12,413,000 in 2017 and the highest being $25,400,000 in 2021. This was an increase of 104.5% from 2017 to 2021. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, growing by $7,638,000 or 38.7% (from $19,762,000 to $25,400,000).

Loss Ratios for Earthquake

The Earthquake loss ratio data for Georgia reveals notable fluctuations over the years. The loss ratios showed a minor increase from 2.34% in 2017 to 2.87% in 2018, followed by a slight dip to 2.62% in 2019. A significant decrease was observed in 2020, with the ratio plummeting to 1.1%. The ratio remained relatively stable in 2021 at 1.13%.

However, a significant jump was seen in 2022, with the ratio climbing sharply to 7.61%. This marked the highest ratio over the observed period, signifying a substantial shift in the trend. The data suggests a generally downward trend from 2017 to 2021, disrupted by a sharp escalation 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 Georgia increased overall from 2015 to 2022.

The lowest amount of direct premiums written was $144,666,5000 in 2015. This increased each year, with the exception of 2020 which saw a slight decrease to $163,595,000 from $168,112,000 in 2019.

The highest direct premiums written was $182,735,9000 in 2022, representing an increase of over 26% from 2015. Similarly, direct premiums earned started at $142,118,9000 in 2015 and increased steadily to $180,753,8000 in 2022. This was an overall increase of 27% over the 8 year period.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $18,325,6000 or 10.8% (from $169,903,4000 to $182,735,9000). The smallest increase was just 0.9% from 2019 to 2020. For direct premiums earned, the biggest jump was also from 2021 to 2022 at 11.1% (from $169,603,9000 to $180,753,8000). And again, the smallest increase was 0.9% from 2019 to 2020.

Loss Ratios for Workers Compensation

The loss ratio data for Workers Compensation in Georgia exhibits interesting trends from 2015 to 2022. Remarkably, the loss ratios demonstrate significant variation, peaking at 57.94% in both 2015 and 2016, then steadily declining to 52.54% in 2017, and further to 47.04% in 2018.

This downward trend continues in 2019 with a loss ratio of 44.75%, slightly interrupted by a minute rise to 45.21% in 2020. However, the reducing trend picks up again in the subsequent years of 2021 and 2022, recording loss ratios of 43.46% and 41.29% respectively.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Georgia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $89,599,000 in 2015. The highest amount was $139,218,000 in 2022. This represents an increase of over 55% 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 $24,702,000 or 21.6% (from $114,516,000 to $139,218,000). The smallest year-over-year increase was 2.4%, from $85,869,000 in 2017 to $88,874,000 in 2018.

Similarly, direct premiums earned also increased steadily over the period. It grew from $84,471,000 in 2015 to $128,474,000 in 2022, an increase of over 52%. The largest year-over-year increase in direct premiums earned was from 2021 to 2022 at 14.9% (from $111,789,000 to $128,474,000). The smallest increase was 1.1%, from $84,399,000 in 2016 to $85,592,000 in 2018.

Loss Ratios for Product Liability

A review of the loss ratio data for Products Liability in Georgia reveals some significant shifts over the observed period. Loss ratios remained relatively stable at 30.57% in 2015 and 29.82% in 2016, before seeing a modest increase to 35.97% in 2017. The ratio then surged to an extraordinary 90.44% in 2018, marking the highest point during the studied years.

However, the loss ratios significantly dipped to 49.76% in 2019 and slightly increased to 50.95% in 2020. Notably, the data from 2021 and 2022 shows a resurgence, with loss ratios rising sharply to 78.69% and 78.7% 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 Georgia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $6,857,411,000 in 2015. This increased each year, with the highest amount being $11,263,199,000 in 2022. This represents an overall increase of 64.3% over the 8 year period.

Direct premiums earned followed a similar trajectory, starting at $6,679,525,000 in 2015 and reaching $10,962,423,000 in 2022, an increase of 64.1%. The largest year-over-year increase for direct premiums written was from 2020 to 2021, when it grew from $10,079,257,000 to $10,543,720,000.

The smallest increase was 2.2% between 2018 and 2020. For direct premiums earned, the biggest jump was also from 2020 to 2021 (from $10,021,672,000 to $10,402,665,000). The smallest increase was 1.9% from 2016 to 2017.

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total in Georgia displays notable trends and fluctuations across the years. A decline in loss ratios is observed from 2015 to 2020, with 73.96% in 2015 dipping to 59.47% in 2020. The most considerable difference occurred between 2016 and 2018, where the loss ratio dropped from 77.71% to 65.48%. 

However, the trend reverses in subsequent years, with a sharp increase in loss ratios from 2020 to 2022. In 2021, the loss ratio rose to 71.14%, followed by a significant jump to 85.6% in 2022. This marks the highest loss ratio percentage throughout the observed period. 

Direct and Earned Premiums for Commercial Auto

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

The lowest amount of direct premiums written was $926,189,000 in 2015. The highest amount was $2,509,986,000 in 2022. This represents an increase of over 171% 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 $41,863,000 or 24.4% (from $171,469,000 to $215,733,000). The smallest year-over-year increase was 10.3%, from $1,698,016,000 in 2017 to $1,409,868,000 in 2018. Similarly, direct premiums earned also increased each year from 2015 to 2022.

The lowest amount was $887,090,000 in 2015 and the highest was $2,369,260,000 in 2022, representing a 167% increase. The largest year-over-year increase in direct premiums earned was 24.1% from 2020 to 2021 (from $1,630,587,000 to $1,989,297,000). The smallest increase was 10.1% from 2017 to 2018 (from $1,103,994,000 to $1,311,570,000).

Loss Ratios for Commercial Auto

The Commercial Auto Total loss ratio data for Georgia highlights noticeable variations across the years. In 2015, the loss ratio was 79.09% and it dipped slightly to 77.25% in 2016. There was a considerable increase to 81.1% in 2017, reaching a peak of 82.7% in 2018.

Subsequently, the loss ratios experienced a downward trend, dropping to 78.34% in 2019 and further declining to 75.92% in 2020. In 2021, it fell to its lowest point at 71.4%. However, a significant resurgence was observed in 2022, with the loss ratio climbing back to 80.79%.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Georgia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $52,963,000 in 2017, while the highest was $87,748,000 in 2022.

Direct premiums written increased overall during the 8-year period, with the largest year-over-year increase occurring between 2021 and 2022, when direct premiums written grew by $10,897,000 or 14.2% (from $76,851,000 to $87,748,000).

Direct premiums earned followed a similar pattern, ranging from a low of $549,180,000 in 2016 to a high of $82,788,000 in 2022. The largest year-over-year increase in direct premiums earned was between 2021 and 2022, when it grew by $16,010,000 or 19.3% (from $82,788,000 to $98,798,000). The smallest year-over-year increase for direct premiums earned was just 1.0%, from $57,960,000 in 2020 to $58,570,000 in 2021.

Loss Ratios for Aircraft

The loss ratio data for the Aircraft line of business in Georgia presents some noteworthy patterns over the years 2015 to 2022. Initially, the loss ratio was at a mere 10.43% in 2015, but it rapidly escalated to 78.63% in 2016. Remarkably, the loss ratio for 2017 and 2018 even exceeded 100%, reaching 110.72% and 117.82% respectively, implying that insurers paid out more in claims than they earned in premiums. 

However, a decline was observed after the peak in 2018, with the loss ratio falling to 92.84% in 2019 and further to 70.45% in 2020. A continued drop to 55.69% was observed in 2021, but a slight increase to 74.95% occurred in 2022. 

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in Georgia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $31,760,000 in 2015. This increased each year, with the highest amount being $37,355,000 in 2022. This represents an increase of 17.6% over the 8 year period.

Direct premiums earned followed a similar pattern, starting at $31,443,000 in 2015 and reaching $37,195,000 in 2022, a 18.3% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $1,725,000 or 5.0% (from $34,530,000 to $36,255,000). The smallest increase was 1.1% between 2016 and 2017, from $32,441,000 to $32,698,000.

For direct premiums earned, the biggest jump was also between 2020 and 2021, increasing by $1,698,000 or 5.0% (from $33,737,000 to $35,435,000). The smallest increase was 0.9% from 2017 to 2018, when it went from $32,154,000 to $32,189,000.

Loss Ratios for Fidelity

The Fidelity loss ratio data for Georgia reveals notable trends and fluctuations over the past eight years. The loss ratios display considerable variation, from a low of 27.2% in 2018 to a high of 76.73% in 2016. In 2015, the loss ratio was 41.15%, which dramatically increased in 2016.

Data for 2017 is missing, but in 2018, there was a significant drop to the lowest point of 27.2%. The loss ratio then rose to 58.38% in 2019, and remained above 50% in 2020, at 53.0%. The year 2021 saw an increase to 69.41%, but this was followed by a decrease to 36.61% in 2022.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and earned for surety insurance in Georgia increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $142,469,000 in 2015. This increased each year, with the highest amount being $223,857,000 in 2022. This represents an overall increase of 57% over the 8 year period.

Direct premiums earned followed a similar trend, starting at $135,112,000 in 2015 and reaching $202,242,000 in 2022, a 50% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $25,171,000 or 14.8% (from $170,596,000 to $195,767,000). The smallest year-over-year increase was just 2.9%, from $166,123,000 in 2018 to $170,596,000 in 2019.

In most years, direct premiums earned lagged slightly behind direct premiums written. The gap was smallest in 2016 when premiums earned were $1,674,000 less than premiums written. The gap was largest in 2022 at $21,615,000.

Loss Ratios for Surety

The loss ratio data for Surety in Georgia demonstrates notable changes and trends over the years. A striking decline in loss ratios is observed from 2015 to 2019, with the highest value at 42.06% in 2015, gradually decreasing to the lowest value of 10.29% in 2019.

However, a significant increase in the loss ratio occurred in 2020, reaching 22.61%. The values for 2021 and 2022 experienced a slight decrease, with loss ratios of 17.23% and 11.96%, respectively. The years 2016 and 2017 exhibited relatively stable loss ratios at 17.73% and 17.29%, respectively.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written for warranty insurance in Georgia fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $30,015,000 in 2017. The highest amount was $56,013,000 in 2022. The direct premiums written decreased from $38,540,000 in 2015 to $30,015,000 in 2017, a 22% drop over those 2 years.

After hitting that low point in 2017, direct premiums written then increased each year from 2018 to 2022. The largest year-over-year increase was from 2018 to 2019, when direct premiums written grew by $18,121,000 or 35% (from $51,976,000 to $70,097,000).

Direct premiums earned followed a similar pattern, with the lowest amount of $27,573,000 occurring in 2017 and the highest amount of $49,316,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2018 to 2019, growing by $32,348,000 or 290% (from $11,170,000 to $43,518,000).

Loss Ratios for Warranty

The Warranty loss ratio data for Georgia shows notable fluctuations and trends from 2015 to 2022. The loss ratios experienced a decrease from 63.28% in 2015 to 37.28% in 2017, followed by an unusual peak at 216.41% in 2018. After this spike, the loss ratios stabilized, with 61.21% in 2019 and 59.03% in 2020.

The years 2021 and 2022 presented a moderate rise, with loss ratios reaching 68.34% and 63.26% respectively. Thus, except for the significant anomaly in 2018, the loss ratios remained relatively consistent, primarily falling within a range of 57.8% to 68.34%.