Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $111,660,000 in 2017, while the highest was $198,819,000 in 2022.

Direct premiums written increased each year from 2017 to 2022, with the largest year-over-year increase occurring between 2021 and 2022 when direct premiums written grew by $21,633,000 or 12.1% (from $178,186,000 to $198,819,000).

Similarly, direct premiums earned were lowest in 2017 at $112,666,000 and highest in 2022 at $188,554,000. The largest year-over-year increase for direct premiums earned was also between 2021 and 2022, growing by $19,110,000 or 11.3% (from $169,437,000 to $188,554,000).

Loss Ratios for Fire

The loss ratio data for the Fire line of business in Kentucky reveals dynamic shifts over the observed period. Noteworthy are the extreme fluctuations, with a peak of 136.78% in 2015 and another surge to 130.64% in 2019. Conversely, the lowest ratio was 33.41% in 2016.

A pattern of high-low cycling is evident, with significant spikes in 2015 and 2019 followed by a substantial decrease in the subsequent year. This pattern is disrupted in the recent years of 2021 and 2022 where loss ratios steadily increased to 42.58% and 54.15% respectively.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for Allied Lines insurance in Kentucky increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $94,013,000 in 2017. The highest amount was $172,803,000 in 2022. This represents an increase of over 80% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022, with the exception of 2016 which saw a slight decrease from $100,240,000 in 2015 to $99,022,000 in 2016. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $24,195,000 or 16.8% (from $143,797,000 to $167,592,000).

Similarly, direct premiums earned also increased overall from 2015 to 2022. The lowest amount was $96,405,000 in 2017 and the highest was $170,632,000 in 2022, representing a 77% increase. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $18,676,000 or 14% (from $133,146,000 to $151,823,000).

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Kentucky demonstrates remarkable shifts and variations over the years. Loss ratios vary significantly, with a low of 29.98% in 2022 and a striking high of 248.21% in 2021.

Between 2015 and 2018, the loss ratios display a degree of inconsistency as they oscillate from 58.46% in 2015, dropping to 41.55% in 2016, rising again to 63.28% in 2017, and settling near the 2016 value at 41.65% in 2018. The most dramatic change is observed between 2018 and 2019, as the loss ratio surges from 41.65% to 86.82%.

In contrast, 2020 marks a significant decline to 40.8%, closely resembling 2016 and 2018 levels. The data takes an unexpected turn in 2021 when the loss ratio reaches an all-time high of 248.21%. However, the loss ratio plummets to its lowest point in 2022 at 29.98%.

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 Kentucky fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $138,760,000 in 2016. This was a decrease from $144,031,000 in 2015. The highest amount was $260,357,000 in 2022. This represents an increase of over 87% from the low in 2016.

Direct premiums written increased each year from 2016 to 2022, with the exception of 2018 which saw a slight decrease from $153,801,000 in 2017 to $145,697,000 in 2018. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $92,579,000 or 44.8% (from $206,778,000 to $260,357,000). The trends were similar for direct premiums earned.

The lowest amount was $133,131,000 in 2016 and the highest was $253,516,000 in 2022, an increase of over 90%. Direct premiums earned decreased from 2017 to 2018, but otherwise increased steadily each year. The largest year-over-year increase was 45.2% from 2021 to 2022.

Loss Ratios for Multi-Peril Crop

An examination of the loss ratio data for Federal Multi-Peril Crop insurance in Kentucky from 2015 to 2022 reveals notable trends and fluctuations.

The loss ratios display considerable variability, with the highest value seen in 2016 at 93.73% and the lowest in 2017 at 63.2%. The data suggests a declining trend from 2016 to 2017, followed by an increase in 2018 to 69.15% and a sharp rise in 2019 to 92.21%.

However, a subsequent decrease is observed from 2019 to 2020, with the loss ratio dropping to 67.13%. In the most recent years, 2021 and 2022, the loss ratios show a steady decline, standing at 53.51% and 57.04%, respectively.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $11,773,000 in 2022, while the highest was $15,373,000 in 2015.

Direct premiums written decreased from $15,373,000 in 2015 to $12,482,000 in 2017, representing a 18.8% drop over that period. There was a slight increase to $13,039,000 in 2019, before decreasing again to $11,773,000 in 2022.

Similarly, direct premiums earned followed a similar pattern, with the lowest amount being $12,099,000 in 2018 and the highest being $15,500,000 in 2015. The largest year-over-year decrease for direct premiums earned was from 2017 to 2018, dropping from $12,437,000 to $12,099,000, a decrease of 2.7%.

Loss Ratios for Federal Flood

The Federal Flood insurance loss ratio in Kentucky presents considerable fluctuations over the years.

The highest ratio was recorded in 2018 at 125.82%, followed by 2022 and 2021 at 108.01% and 103.25%, respectively, suggesting major flood incidents or claim payouts during these years. On the contrary, 2015 also experienced a high loss ratio of 98.36%, but it significantly dropped to 10.91% in 2016 and slightly rose to 11.47% in 2017.

It showcases the unpredictability and volatility of flood occurrences and subsequent claims. Interestingly, 2019 and 2020 saw a substantial decrease with 27.42% and 9.98% loss ratios, implying lesser flood-related incidents or claims.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $7,637,000 in 2020, while the highest was $11,401,000 in 2015. This represents a decrease of nearly 33% from 2015 to 2020.

Direct premiums written decreased each year from 2015 to 2017, going from $11,401,000 down to $8,280,000. It then increased in 2018 to $8,831,000 before dropping again in 2020 to the low of $7,637,000. The largest year-over-year decrease was from 2015 to 2016, when direct premiums written fell by $3,622,000 or 31.8% (from $11,401,000 to $7,579,000).

Meanwhile, direct premiums earned followed a similar pattern, ranging from a high of $11,138,000 in 2015 down to a low of $7,670,000 in 2020. The biggest year-over-year drop for direct premiums earned was also from 2015 to 2016, decreasing by $2,879,000 or 25.9% (from $11,138,000 to $8,259,000).

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Kentucky illustrates notable trends and variations throughout the years. The loss ratios demonstrate remarkable fluctuations, with the highest value of 194.66% in 2015 and the lowest of 88.71% in 2022.

Between 2015 and 2018, the loss ratios consistently decreased, from 194.66% to 108.6%. However, an upward shift occurred in 2019, with a loss ratio of 139.48%. This increase was short-lived, as the loss ratio reached 163.43% in 2020 before dropping again to 137.11% in 2021.

Despite the overall downward trend from 2015 to 2022, there were periods of instability, such as the decrease between 2016 and 2017 (154.26% to 152.85%) followed by the significant drop in 2018 (108.6%). The most stable period appears in the recent years, with a relatively smaller decrease from 137.11% in 2021 to 88.71% in 2022.

Direct and Earned Premiums for Private Flood

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

The lowest amount of direct premiums written was $3,636,000 in 2016. This steadily increased each year, with the highest amount being $10,505,000 in 2022. This represents an increase of over 188% over the 7 year period.

Direct premiums earned followed a similar upward trend, starting at $2,144,000 in 2016 and reaching $10,217,000 in 2022. This is an increase of over 376% over the period. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $2,153,000 or 36% (from $5,957,000 to $8,710,000).

The smallest year-over-year increase was just under 10% from 2018 to 2019 ($707,000 to $7,070,000). For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $1,607,000 or 29% (from $5,460,000 to $7,167,000). The smallest increase was around 5% from 2016 to 2017 ($2,144,000 to $2,992,000).

Loss Ratios for Private Flood

The Private Flood insurance loss ratios in Kentucky demonstrate notable variations and trends between 2016 and 2022. In 2016, the loss ratio was 10.89%, which dropped significantly to 5.26% in 2017. However, there was a substantial increase in 2018, reaching 26.81%, followed by a slight decline to 22.87% in 2019.

A dramatic decrease was observed in 2020, with the loss ratio falling to 5.42%, nearly mirroring the 2017 figure. In 2021, the loss ratio surged to 37.83%, the highest percentage within the specified timeframe. The loss ratio in 2022 settled at 24.17%, illustrating an overall decline from 2021 but still higher than the values observed in earlier 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 Kentucky increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $148,851,000 in 2015. The highest amount was $180,048,000 in 2022. This represents an increase of over 20% 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 $12,736,000 or 7.6% (from $167,312,000 to $180,048,000).

The smallest year-over-year increase was 2.1%, from $158,608,000 in 2019 to $160,836,000 in 2020. The trends for direct premiums earned are very similar. The lowest amount was $147,431,000 in 2015 and the highest was $173,805,000 in 2022, an increase of over 17% 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 7.4% from 2021 to 2022 (from $163,527,000 to $173,805,000) and the smallest was 2.0% from 2019 to 2020.

Loss Ratios for Farmowners Multiple Peril

Examining the loss ratio data for Farmowners Multiple Peril in Kentucky presents a fluctuating pattern over the years. The loss ratios display a considerable range, from a minimum of 50.52% in 2018 to a striking maximum of 96.99% in 2021. Each year shows marginal variances with a gradual increase from 2015's 52.6% to 2016's 53.75%, followed by a more significant rise to 61.63% in 2017.

A decline to 50.52% in 2018 is observed, but it's short-lived with ratios climbing back to 53.85% in 2019. The trend continues upward as 2020 sees a rise to 55.82%. The most notable leap happens in 2021 with a drastic surge to 96.99%. However, 2022 witnesses a drop to 60.91%, still higher than most preceding years.

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 Kentucky increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $1,099,500,000 in 2015. The highest amount was $1,477,691,000 in 2022. This represents an increase of over 34% 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 $301,769,000 or 9.9% (from $1,345,922,000 to $1,477,691,000). The smallest year-over-year increase was 6.7%, from $1,153,421,000 in 2017 to $1,231,105,000 in 2018.

The direct premiums earned followed a similar trend, increasing steadily from $1,075,955,000 in 2015 to $1,408,917,000 in 2022. The largest year-over-year increase was 10.4%, from $1,300,828,000 in 2021 to $1,408,917,000 in 2022. The smallest was 5.8%, from $1,111,675,000 in 2016 to $1,175,105,000 in 2018.

Loss Ratios for Homeowners Multiple Peril

Analysis of loss ratio data for Homeowners Multiple Peril in Kentucky over the years presents intriguing patterns. The loss ratios exhibit moderate variation from 2015 to 2020, with the lowest at 48.75% in 2016 and the highest at 52.31% in 2020. Notably, 2017 and 2020 showed similar loss ratios of 52.07% and 52.31%, respectively.

In contrast, the year 2021 saw a significant jump to 85.13%, the highest in the period under review. This marked a sharp increase of nearly 33% from the preceding year. However, the loss ratio in 2022 dropped to 67.35%, still considerably higher than the 2015-2020 average.

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 Kentucky increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $506,574,000 in 2015. This increased each year, reaching $650,271,000 in 2022 - an overall increase of 28% over the 8 year period.

The direct premiums earned followed a similar trajectory, starting at $507,803,000 in 2015 and ending at $625,936,000 in 2022, a 23% increase.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $52,843,000 or 8.8% (from $597,428,000 to $650,271,000). The smallest increase was just 2.8% between 2016 and 2017. For direct premiums earned, the biggest jump was from 2020 to 2021, increasing by $25,355,000 or 4.5%. The smallest increase was 1.2% between 2018 and 2019.

Loss Ratios for Commercial Multiple Peril

The Commercial Multiple Peril loss ratio data for Kentucky displays notable trends and fluctuations over the years 2015 to 2022. The loss ratios exhibit considerable variability, with the lowest value of 40.57% in 2020 and the highest value of 90.65% in 2021.

Between 2015 and 2016, there was a significant drop in the loss ratio from 64.42% to 42.9%, followed by a mild increase to 49.2% in 2017. The data then shows a rising trend from 2017 to 2018, with the loss ratio reaching 55.1%. However, the loss ratio decreased again in 2019 to 47.84%.

The most dramatic change appears between 2020 and 2021, where the loss ratio surged from 40.57% to an all-time high of 90.65%. The loss ratio remained consistently high in 2022, registering a value of 89.95%.

Direct and Earned Premiums for Mortgage Guaranty

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

The lowest amount of direct premiums written was $41,149,000 in 2015. This increased each year, reaching a high of $48,416,000 in 2022, representing an increase of 17.7% over the 8 year period.

The direct premiums earned followed a similar upward trend, starting at $36,827,000 in 2015 and ending at $50,159,000 in 2022, a 36.2% increase. However, direct premiums earned grew at a faster rate than direct premiums written. For example, from 2019 to 2020, direct premiums written grew by 4.8% while direct premiums earned jumped by 9.7%.

The largest year-over-year increase in direct premiums written was 6.8%, from $40,819,000 in 2017 to $43,787,000 in 2018. The smallest was just 1.4%, from $46,743,000 in 2020 to $47,443,000 in 2021. For direct premiums earned, the biggest jump was 19.8% between 2019 and 2020, when it increased from $47,119,000 to $51,698,000.

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Kentucky over the past eight years presents a dynamic landscape.

The highest loss ratio is seen in 2015 and 2020 with 23.09% and 23.15% respectively, while the lowest recorded was a mere 1.62% in 2018. The loss ratio dipped significantly from 23.09% in 2015 to 12.83% and 11.68% in subsequent years before plummeting to the lowest point in 2018.

A slight rebound was observed in 2019 with a figure of 6.44% and an unexpected surge back to 23.15% was seen in 2020. The years 2021 and 2022, however, show a decrease, with 2021 reporting a remarkably low loss ratio of 3.41%.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $23,467,000 in 2016. The highest was $36,878,000 in 2022.

Direct premiums written increased overall during the period, with the largest year-over-year increase occurring between 2021 and 2022 when it grew by $13,362,000 or 41.1% (from $32,516,000 to $36,878,000).

Direct premiums earned followed a similar pattern to direct premiums written. The lowest amount was $24,274,000 in 2018 and the highest was $40,329,000 in 2022. The largest year-over-year increase in direct premiums earned was also between 2021 and 2022, growing by $21,468,000 or 67.4% (from $31,861,000 to $40,329,000).

Loss Ratios for Ocean Marine

Ocean Marine's loss ratio data for Kentucky displays pronounced changes over the observed period. The loss ratios vary drastically, peaking at 174.09% in 2018 and bottoming at 60.29% in 2020. The year 2016 also experienced a high loss ratio of 171.25%, which then significantly dropped to 81.48% in 2017.

A similar, albeit less extreme, decrease can be seen between 2018 and 2019, with loss ratios falling from 174.09% to 75.57%. However, from 2020 to 2022, loss ratios remain relatively stable, fluctuating narrowly around the mid-60s, with 65.62% in 2021 and 64.93% 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 Kentucky increased overall from 2016 to 2022. The lowest amount of direct premiums written was $243,170,000 in 2016.

This steadily increased each year, with the highest amount being $351,861,000 in 2022. This represents an increase of over 44% over the 7 year period. The direct premiums earned followed a similar trend, starting at $246,388,000 in 2016 and reaching $338,697,000 in 2022, an increase of 37% over the period.

Looking year-over-year, the largest increase in direct premiums written was from 2021 to 2022, when it grew by $83,046,000 or 26%. The smallest year-over-year growth was 2% between 2018 and 2019. For direct premiums earned, the biggest jump was also 2021 to 2022 at 20%, while the smallest was from 2018 to 2019 at 5%.

Loss Ratios for Inland Marine

The loss ratio data for Inland Marine insurance in Kentucky showcases interesting trends from 2016 to 2022. The highest ratio was recorded in 2016 at 60.65%, and the lowest in 2018, at 44.26%. This indicates a marked decrease over these years.

The trend, however, doesn't remain consistent, as there was a minor increase in 2019 to 45.73%, followed by a more significant jump to 54.58% in 2020. The year 2021 saw a decrease to 48.79%, but this was followed by another increase to 54.28% in 2022.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $806,000 in 2018, while the highest was $20,121,000 in 2017.

This represents a massive increase of over 2300% from the low point in 2018 to the peak in 2017. Direct premiums written decreased steadily from the high of $20,121,000 in 2017 down to $806,000 in 2018. It then rebounded to $1,650,000 in 2019 before dropping again to $1,677,000 in 2020. The largest year-over-year decrease was from 2017 to 2018, when direct premiums dropped by $19,315,000 or 96%.

Meanwhile, direct premiums earned hit a high of $13,477,000 in 2016 before declining to $3,114,000 by 2018. This represents a 77% decrease over just two years. Direct premiums earned then fluctuated between $2 million and $4 million from 2019 to 2022. The largest year-over-year decrease for direct premiums earned was from 2016 to 2017, dropping by $3,188,000 or 24%.

Loss Ratios for Financial Guaranty

The analysis of loss ratio data for Financial Guaranty in Kentucky 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 Kentucky increased overall from 2015 to 2022. The lowest amount of direct premiums written was $106,286,000 in 2015. This increased each year, with the exception of 2016 which saw a slight decrease to $103,601,000.

The highest direct premiums written was $133,802,000 in 2022, representing an increase of 25.9% from 2015. Similarly, direct premiums earned started at $105,607,000 in 2015 and increased steadily each year to $133,320,000 in 2022, a 26.3% increase.

The largest year-over-year increase for direct premiums written was from 2020 to 2021, when it grew by 7.7% from $116,421,000 to $125,340,000. The smallest year-over-year increase was just 0.8% from 2016 to 2017.

Loss Ratios for Medical Professional Liability

Analysis of Medical Professional Liability loss ratios in Kentucky from 2015 to 2022 reveals some intriguing patterns. Initially, the loss ratios experienced a marginal increase from 45.82% in 2015 to 46.83% in 2016, followed by a decrease to 43.16% in 2017. However, a dramatic shift was observed in 2018 when the loss ratio surged to a high of 72.63%.

This upward trend continued into 2019, with the highest recorded loss ratio of 75.81%. Interestingly, a downward shift occurred in 2020, with the loss ratio dropping significantly to 35.96%. This downward trend reversed in the following years as the loss ratios for 2021 and 2022 were recorded at 40.99% and 52.11%, respectively.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and earned for earthquake insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $41,992,000 in 2015.

This increased each year to a high of $62,189,000 in 2021 before decreasing to $56,610,000 in 2022. Direct premiums earned followed a similar pattern. The lowest amount was $41,973,000 in 2015. This increased steadily to a peak of $63,415,000 in 2021 before decreasing slightly to $56,755,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $32,299,000 or 6.4% (from $50,532,000 to $53,831,000). The smallest year-over-year increase was just 1.7% from 2016 to 2017 ($41,443,000 to $44,414,000).

Loss Ratios for Earthquake

The earthquake insurance loss ratio for Kentucky shows fascinating trends from 2015 to 2021. The data reveals significant variability, with the lowest loss ratio of 1.63% in 2017, demonstrating an increase to a peak of 11.04% in 2020.

The loss ratio shows a sharp rise from 1.75% in 2015 to 10.36% in 2018, sustaining this elevation in 2019 with a nearly similar ratio of 10.87%. However, a sizeable drop is observed in 2021, with the loss ratio falling to 6.65%. The lack of data for 2016 and 2022 makes it challenging to gauge the exact pattern over these years.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $486,835,000 in 2020. The highest was $552,990,000 in 2022.

Direct premiums written decreased from $512,806,000 in 2015 to $504,251,000 in 2017. There was then an increase to $580,610,000 in 2018 followed by a drop to $560,341,000 in 2019. The largest year-over-year decrease was from 2019 to 2020, when direct premiums written fell by $71,506,000 or 12.8% (from $560,341,000 to $486,835,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period, ranging from a low of $490,971,000 in 2021 to a high of $567,693,000 in 2019. The largest year-over-year increase in direct premiums earned was from 2018 to 2019, rising by $7,521,000 or 1.3% (from $581,720,000 to $567,693,000).

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio data for Kentucky presents notable patterns and variations throughout the years 2015 to 2022. The loss ratios exhibit considerable fluctuations, with the highest value of 75.23% in 2015 and the lowest of 49.31% in 2022. A downward trend is observed between 2015 and 2016, with the loss ratio decreasing from 75.23% to 65.63%.

However, 2017 sees an increase to 74.62%, indicating inconsistency in the data. From 2018 to 2020, a general decline in loss ratios is evident, with values of 60.81%, 62.23%, and 51.17%, respectively. In 2021 and 2022, the loss ratios show relative stability, with 2021 at 51.19% and 2022 at 49.31%.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Kentucky fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $25,397,000 in 2018. The highest amount was $36,588,000 in 2022. This represents an increase of over 40% from the low in 2018 to the high in 2022.

Direct premiums written decreased from $29,057,000 in 2015 to $25,397,000 in 2018, before increasing again to $36,588,000 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $6,859,000 or 23.1% (from $29,729,000 to $36,588,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period, with the lowest amount of $25,908,000 in 2018 and the highest amount of $34,598,000 in 2022. This was an increase of over 33% from 2018 to 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $4,924,000 or 16.6% (from $29,674,000 to $34,598,000).

Loss Ratios for Product Liability

Loss ratio statistics for Products Liability in Kentucky present notable patterns over the observed years. The data shows significant variability, with the lowest ratio of 2.19% in 2016 and the highest of 51.06% in 2019. The period from 2015 to 2016 saw a significant decrease in loss ratios, from 30.26% to 2.19%.

An increase in loss ratios is evident from 2016 to 2019, peaking at 51.06%. In 2020, a substantial decrease to 25.67% was recorded. The most recent year, 2022, indicates a ratio of 32.39%, showing a moderate increase from 2020. Absence of data for 2021 prevents a full trend analysis.

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 Kentucky increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $2,638,140,000 in 2015. The highest amount was $3,348,260,000 in 2022. This represents an increase of over 27% 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 $3,238,940,000 in 2019 to $3,170,569,000 in 2020. The largest year-over-year increase in direct premiums written was from 2016 to 2017, when it grew from $2,805,860,000 to $3,030,460,000.

The direct premiums earned followed a similar trend, with the lowest amount being $2,591,015,000 in 2015 and the highest being $3,294,938,000 in 2022. This was an increase of over 27% as well. The largest year-over-year increase for direct premiums earned was also from 2016 to 2017, growing by  7.9%.

Loss Ratios for Private Passenger Auto

The Loss Ratio Percentage for Private Passenger Auto Total in Kentucky has shown notable oscillations over the years. In 2015, it stood at 69.18%, slightly increasing to 72.44% in 2016. However, a dip was observed in 2017, with the loss ratio reducing to 67.0%, and this downward trend continued till 2020, hitting a low of 57.99%.

Despite the consistent decrease, the trend reversed in 2021, when the loss ratio bounced back to 67.94%, close to the 2015 levels. The most striking change appeared in 2022, with a sharp rise to 78.27%, the highest in the mentioned period.

Direct and Earned Premiums for Commercial Auto

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

The lowest amount of direct premiums written was $388,747,000 in 2015. The highest amount was $620,764,000 in 2022. This represents an increase of over 59% 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 $62,406,000 or 12.2% (from $510,567,000 to $572,973,000). The smallest year-over-year increase was 2.0%, from $509,136,000 in 2019 to $510,567,000 in 2020. The direct premiums earned followed a similar trend, with the lowest amount being $379,323,000 in 2015 and the highest being $598,262,000 in 2022.

This was an increase of over 57% over the period. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $49,411,000 or 11.5% (from $430,012,000 to $549,416,000). The smallest increase was 1.0%, from $490,093,000 in 2019 to $503,012,000 in 2020.

Loss Ratios for Commercial Auto

The Commercial Auto Total loss ratio data for Kentucky presents interesting patterns and shifts across the years. A peak loss ratio is observed in 2015 at 71.27%, followed by a slight decrease to 69.02% in 2016 and a marginal rise to 69.74% in 2017. A more pronounced downward trend is evident from 2017 to 2020, with loss ratios dropping from 69.74% to 56.06%.

This downward movement is disrupted in 2021, as the loss ratio increases to 57.47%. A significant jump is then observed in 2022, with the loss ratio reaching 65.92%. Throughout the analyzed period, the lowest loss ratio is found in 2020 at 56.06%, while the highest is in 2015 at 71.27%.

Direct and Earned Premiums for Aircraft

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

The lowest amount of direct premiums written was $7,251,000 in 2015. The highest amount was $13,595,000 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 $3,384,000 or 30.3% (from $11,166,000 to $11,550,000). The smallest year-over-year increase was 1.3%, from $6,886,000 in 2016 to $7,507,000 in 2017.

Similarly, direct premiums earned also increased overall from 2015 to 2022. The lowest amount was $7,058,000 in 2015 and the highest was $12,461,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2021 to 2022, when it grew by $2,429,000 or 20.2% (from $12,032,000 to $12,461,000). The smallest increase was 0.4% from 2016 to 2017 (from $6,921,000 to $7,368,000).

Loss Ratios for Aircraft

The loss ratio data for Aircraft insurance in Kentucky displays substantial shifts over the years. The ratios varied dramatically, with a low of 1.4% in 2017 to a peak of 104.35% in 2019. The high in 2019 implies that the insurance company paid out more in claims than it collected in premiums that year. A decreased loss ratio trend is observed from 2015 to 2017, dropping from 57.71% to 1.4%.

However, a sharp increase is seen in 2018, with the loss ratio skyrocketing to 76.87%. The year 2019 surpasses this with a 104.35% loss ratio, followed by a significant reduction to 52.98% in 2020. More recent years, 2021 and 2022, indicate a continuation of this downward trend with loss ratios of 32.47% and 28.27% respectively.

Direct and Earned Premiums for Fidelity

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

The lowest amount of direct premiums written was $9,733,000 in 2019. The highest was $10,956,000 in 2022. Direct premiums earned followed a similar pattern, with the lowest being $9,959,000 in 2019 and the highest being $10,540,000 in 2022.

Overall, direct premiums written increased from $10,663,000 in 2015 to $10,956,000 in 2022, representing a 2.7% increase over the 8 year period. Direct premiums earned grew from $10,309,000 in 2015 to $10,540,000 in 2022, a 2.2% increase.

The largest year-over-year increase in direct premiums written was from 2021 to 2022 at 3.2% (from $10,620,000 to $10,956,000). The smallest was a 0.2% decrease from 2016 to 2017 (from $10,296,000 to $10,244,000). For direct premiums earned, the largest increase was also 2021 to 2022 at 4.3% (from $10,101,000 to $10,540,000) while the smallest was a 0.2% decrease from 2017 to 2018 (from $10,289,000 to $10,267,000).

Loss Ratios for Fidelity

The loss ratio data for Fidelity insurance in Kentucky reveals remarkable fluctuations and trends over the years. In particular, the loss ratios show considerable variability, from a low of 14.22% in 2021 to a peak of 89.98% in 2020. Between 2015 and 2017, the loss ratios remained relatively stable, with 24.32% in 2015, 31.25% in 2016, and 20.4% in 2017.

However, a significant increase occurred in 2018, reaching 64.3%. Data for 2019 is unavailable, but the highest loss ratio appears in 2020, with 89.98%. Interestingly, this peak is followed by a drastic drop in 2021 to 14.22%, the lowest value in the data set. For 2022, loss ratio information is not provided, so further analysis cannot be conducted for that year.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and earned for surety insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $74,395,000 in 2020, while the highest was $88,089,000 in 2022.

Direct premiums earned ranged from a low of $76,485,000 in 2018 to a high of $82,181,000 in 2022. Looking specifically at direct premiums written, there was a general upward trend from 2015 to 2019, with premiums rising from $78,982,000 to $81,423,000. However, in 2020 there was a significant drop to $74,395,000 before rebounding to $87,760,000 in 2021 and reaching the 8-year high of $88,089,000 in 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021 at 18.0%.

For direct premiums earned, the pattern was more variable. After rising from 2015 to 2016, premiums earned decreased in both 2017 and 2018 before rebounding somewhat in 2019. 2020 saw another increase to $78,832,000 before dropping again in 2021. Finally, 2022 saw the highest direct premiums earned over the period at $82,181,000. The largest fluctuation was the 10.6% decrease from 2019 to 2020.

Loss Ratios for Surety

The Surety line of business in Kentucky presents unique trends in loss ratio percentages over the years. The data reveals a noticeable increase from a modest 4.37% in 2015 to 13.91% in 2016, only to see a decline to 9.12% in 2017 and a further dip to 8.81% in 2018.

However, a significant jump occurs in 2019 with the loss ratio surging to 23.8%, more than double the previous year's figure. The percentage then falls to 10.33% in 2020 before rising sharply again in the subsequent years. In 2021, the loss ratio percentage again climbed to 26.08%, maintaining a similar level into 2022 at 26.86%.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in Kentucky fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $9,787,000 in 2020. The highest was $15,065,000 in 2016.

Direct premiums written decreased from $14,903,000 in 2015 to $12,256,000 in 2017, before increasing again to $12,344,000 in 2018. The largest year-over-year decrease in direct premiums written was from 2021 to 2022, when it dropped from $12,268,000 to $10,177,000, a 17% decrease.

Direct premiums earned followed a different trend, steadily increasing from $9,699,000 in 2015 to a peak of $12,516,000 in 2019. It then decreased to $11,233,000 in 2021 before increasing again to $12,158,000 in 2022. The largest year-over-year increase in direct premiums earned was from 2015 to 2016, when it grew by 12% from $9,699,000 to $10,873,000.

Loss Ratios for Warranty

The Warranty loss ratio data for Kentucky displays interesting patterns and shifts over the years 2015 to 2022. The loss ratios experience moderate fluctuations, with the lowest recorded at 43.57% in 2015 and the highest at 51.4% in 2022. Within this timeframe, the years 2015, 2016, and 2017 exhibit relatively stable loss ratios, hovering around 43.57%, 45.93%, and 43.93%, respectively.

This stability is followed by a steady increase from 2018 to 2019, with loss ratios rising to 47.18% and 49.12%. However, a slight dip occurs in 2020, bringing the loss ratio down to 44.39%. The data reveals a subsequent rebound in 2021 and 2022, with loss ratios climbing back to 47.13% and 51.4%, respectively.