Market Trends

Direct and Earned Premiums for Fire

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

The lowest amount of direct premiums written was $121,298,000 in 2017, while the highest was $210,247,000 in 2022.

Direct premiums written increased each year from 2017 to 2022, with the exception of a dip from $159,390,000 in 2020 to $186,453,000 in 2021. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $23,794,000 or 12.8% (from $186,453,000 to $210,247,000). Similarly, direct premiums earned were lowest at $121,329,000 in 2017 and highest at $201,054,000 in 2022.

Direct premiums earned followed a similar pattern to direct premiums written, with steady increases each year from 2017 to 2022, except for a small dip from $146,753,000 in 2020 to $174,006,000 in 2021. The biggest year-over-year jump in direct premiums earned was from 2021 to 2022, growing by $27,048,000 or 15.5% (from $174,006,000 to $201,054,000).

Loss Ratios for Fire

Detailed analysis of the Fire Insurance loss ratio data in Mississippi over the years reveals significant fluctuations. In 2015, the loss ratio stands at 39.25%, which increased to 51.77% in 2016, demonstrating a significant growth.

The following year, 2017, recorded a slight dip to 49.06%. However, a dramatic surge occurred in 2018, with the loss ratio skyrocketing to 92.57%, the highest in the given period.

The data in 2019 shows a sharp decline to 44.42%, nearly halving from the previous year. Interestingly, the trend reverses again in 2020, with the loss ratio rising to 73.75%. The subsequent year, 2021, maintained a similar level at 76.29%.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and earned for allied lines insurance in Mississippi increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $126,563,000 in 2015. By 2022, this had grown to $214,627,000, representing an increase of nearly 70% over the 8 year period.

Direct premiums earned followed a similar upward trend, growing from $123,819,000 in 2015 to $201,206,000 in 2022, an increase of over 62%. Looking year-over-year, the largest increase in direct premiums written was from 2020 to 2021, when it jumped by $11,279,000 or 6.6% (from $170,963,000 to $182,272,000).

The smallest year-over-year increase was just 1.5% between 2016 and 2017 ($122,959,000 to $124,097,000). For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $17,157,000 or 10.8% (from $158,980,000 to $176,037,000). The smallest increase was 0.6% from 2017 to 2018 ($123,887,000 to $127,388,000).

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Mississippi indicates interesting patterns and shifts over the specified years.

The loss ratios show substantial inconsistency, with a minimum of 22.03% in 2016 and peaking at 90.08% in 2020. 2015 initiated with a loss ratio of 31.87%, which decreased to 22.03% in the following year, 2016. However, an increase was observed in 2017, reaching 33.73%. A significant surge was noticed in 2018, with the loss ratio hitting 58.32%.

In contrast, 2019 saw a decline to 35.72%. A sharp increase was observed in 2020, with the loss ratio reaching an all-time high of 90.08%. This trend continued into 2021, although at a slightly lower ratio of 85.13%. In 2022, there was a noticeable decrease to 59.29%.

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 Mississippi fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $120,168,000 in 2015. This increased to $120,920,000 in 2016 before reaching a peak of $210,038,000 in 2022.

Direct premiums earned followed a similar pattern, with the lowest amount being $117,941,000 in 2015 and the highest being $209,837,000 in 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when premiums grew by $68,439,000 or 48.4% (from $141,599,000 to $210,038,000).

The smallest year-over-year increase was 1.5% from 2015 to 2016 ($120,168,000 to $120,920,000). For direct premiums earned, the largest increase was also between 2021 and 2022 at 48.8% (from $141,044,000 to $209,837,000). The smallest increase was again between 2015 and 2016 at 2.4% ($117,941,000 to $120,859,000).

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio data for Mississippi over the years displays considerable fluctuations. In 2015, the loss ratio stood at 95.97%, followed by a slight increase to 100.59% in 2016.

However, a significant decline occurred in 2017, with the loss ratio dropping to 55.02%. From 2017 to 2018, the loss ratio increased moderately to 65.91%. A drastic surge was observed in 2019, as the loss ratio peaked at 157.61%.

This spike was short-lived, as the loss ratio decreased to 122.57% in 2020, still maintaining a relatively high value compared to previous years. In 2021, the loss ratio experienced another decline to 93.04%, followed by a further reduction to 68.34% in 2022.

Direct and Earned Premiums for Federal Flood

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

The lowest amount of direct premiums written was $32,260,000 in 2017. The highest was $40,265,000 in 2021. This represents an increase of 24.7% from the low in 2017 to the high in 2021.

Direct premiums written increased each year from 2015 to 2019. The largest year-over-year increase was from 2018 to 2019, when direct premiums written grew by $7,487,000 or 22.1% (from $33,807,000 to $36,294,000). Direct premiums written continued to climb in 2020 and 2021 before decreasing in 2022.

Direct premiums earned followed a similar pattern to direct premiums written over the period, with the lowest amount being $31,726,000 in 2017 and the highest being $39,372,000 in 2021. This was a 24.1% increase. The largest year-over-year growth in direct premiums earned was also between 2018 and 2019, increasing by $6,239,000 or 19.1% (from $32,654,000 to $38,893,000).

Loss Ratios for Federal Flood

The Federal Flood loss ratio data in Mississippi displays interesting patterns and changes across the years.

Loss ratios fluctuated considerably, from a minimal 7.69% in 2015 to a substantial 49.51% in 2019. Following a surge in 2016 to 48.57%, a decline to 44.4% was noted in 2017, which further dipped to 18.26% in 2018.

However, 2019 and 2020 observed a resurgence in loss ratios, reaching 49.51% and 49.05%, respectively. In 2021, the ratio slightly reduced to 42.39%, but a significant drop to 11.78% was observed 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 Mississippi increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $2,928,000 in 2015. The highest amount was $5,018,000 in 2022. This represents an increase of over 70% 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 $1,398,000 or 33.4% (from $4,182,000 to $4,816,000). The smallest year-over-year increase was 6.1%, from $3,459,000 in 2019 to $3,672,000 in 2020.

The direct premiums earned followed a similar pattern, with the lowest amount being $2,929,000 in 2015 and the highest being $5,017,000 in 2022. This was an increase of over 70% as well. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, growing by $745,000 or 18.1% (from $4,127,000 to $4,872,000). The smallest increase was 1.3%, from $3,524,000 in 2016 to $3,572,000 in 2017.

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Mississippi showcases significant fluctuations and noteworthy trends across the years. The loss ratios exhibit a wide range, from the lowest at 104.53% in 2015 to the highest at 197.72% in 2021.

Between 2015 and 2016, the loss ratio experienced a substantial increase of 62.85 percentage points, reaching 167.38%. The following year, 2017, saw a decline to 120.33%, but this was short-lived as the loss ratio surged to 153.69% in 2018.

A remarkable increase was observed in 2019, with the loss ratio reaching its second-highest value of 191.98%. Subsequently, there was a drop to 137.62% in 2020 before climbing again to the peak value of 197.72% in 2021. The most recent year, 2022, shows a decrease in loss ratio to 155.36%.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in Mississippi fluctuated between 2016 and 2022. The lowest amount of direct premiums written was $3,546,000 in 2016. This increased to $4,954,000 in 2017, representing a 40% increase from the previous year.

Direct premiums written continued to rise in 2018 to $5,402,000 before dropping to $3,930,000 in 2019. There was then an increase to $5,746,000 in 2020 and a more significant jump to $8,055,000 in 2021. The highest amount of direct premiums written was $9,500,000 in 2022, which was 168% higher than the amount in 2016.

Similarly, direct premiums earned started at $2,753,000 in 2016 before rising to $4,787,000 in 2017, a 74% increase. Premiums earned reached their peak of $8,737,000 in 2022, which was a 218% increase from 2016. The largest year-over-year growth for direct premiums earned was from 2020 to 2021, when it increased 32% from $4,985,000 to $6,578,000.

Loss Ratios for Private Flood

The Private Flood loss ratio data in Mississippi unveils considerable variability over the years. The loss ratios peaked at an exceptionally high value of 185.04% in 2016, indicating a year of significant losses. Data for 2017 was not available, but in 2018, the loss ratio drastically reduced to a mere 1.05%. This sharp decline suggests a huge improvement in loss management or changes in risk factors.

The subsequent years, 2019 and 2020, maintained relatively stable loss ratios at 18.37% and 18.74% respectively, demonstrating a balance between premiums collected and claims paid. However, a downward trend is observed in 2021 and 2022, with loss ratios dropping to 13.25% and 8.22% 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 Mississippi increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $22,557,000 in 2015. The highest amount was $33,167,000 in 2022. This represents an increase of over 47% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $3,041,000 or 10.1% (from $30,126,000 to $33,167,000). The smallest year-over-year increase was 1.7%, from $22,289,000 in 2016 to $22,719,000 in 2017.

The direct premiums earned followed a similar trend, increasing each year from 2015 to 2022. The lowest amount was $22,256,000 in 2015 and the highest was $31,733,000 in 2022, a 42.5% increase. The largest year-over-year increase in direct premiums earned was 16.2%, from $26,353,000 in 2018 to $30,615,000 in 2019. The smallest increase was 0.9%, from $22,481,000 in 2016 to $22,532,000 in 2017.

Loss Ratios for Farmowners Multiple Peril

The Farmowners Multiple Peril loss ratio data in Mississippi displays notable trends and variations over the years. There's a marked surge from 45.16% in 2015 to a notable 76.85% in 2016. However, the trend doesn't maintain, dropping to 52.46% in 2017, followed by a further decrease to 41.55% in 2018. In 2019, the loss ratio rebounds to 61.05%.

A significant peak is observed in 2020, when the loss ratio hits its highest at 100.22%, nearly doubling from the previous year. This peak is followed by a significant drop to 46.74% in 2021, almost returning to 2015 levels. In the most recent year, 2022, the loss ratio sees a modest rise to 51.9%.

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 Mississippi increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $957,972,000 in 2015. The highest amount was $1,323,358,000 in 2022. This represents an increase of over 38% 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 $165,958,000 or 14.2% (from $1,172,020,000 to $1,323,358,000). The smallest year-over-year increase was 1.4%, from $996,348,000 in 2016 to $1,006,593,000 in 2017.

The trends for direct premiums earned are similar, with the lowest amount being $941,188,000 in 2015 and the highest being $1,243,053,000 in 2022. This is an increase of over 32% in direct premiums earned over the period. As with direct premiums written, direct premiums earned increased each year from 2015 to 2022.

Loss Ratios for Homeowners Multiple Peril

The Homeowners Multiple Peril loss ratio data for Mississippi displays distinct patterns and variances across the years. The loss ratio percentages demonstrated a moderate increase from 36.55% in 2015 to 47.2% in 2017, then slightly fell to 41.12% in 2018. In 2019, it rose again to 48.96%, but 2020 marked a dramatic surge, peaking at 87.69%.

This spike is noteworthy as it is significantly higher than the previous years' percentages. Following this peak, the loss ratio decreased in 2021 to 55.54%, but still remained higher than the 2015-2019 range. In 2022, the loss ratio showed an upward trend, registering at 60.71%.

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 Mississippi increased overall from 2015 to 2022.

The lowest amount of direct premiums written was $328,052,000 in 2015. This increased each year, with the exception of a slight dip from $319,657,000 in 2016 to $317,779,000 in 2017. The highest direct premiums written was $444,598,000 in 2022, representing an increase of over 35% from 2015.

Similarly, direct premiums earned started at $326,967,000 in 2015 and increased steadily to $420,489,000 in 2022, a 29% increase. The largest year-over-year increase for direct premiums written was from 2020 to 2021, when it grew by $25,321,000 or 7%. The smallest year-over-year increase was 1% between 2017 and 2018.

Loss Ratios for Commercial Multiple Peril

The Commercial Multiple Peril loss ratio data for Mississippi reveals notable trends and fluctuations from 2015 to 2022. The loss ratios exhibit considerable variability, with the lowest value of 31.27% in 2015 and the highest at 77.25% in 2017. Between 2015 and 2016, the loss ratio saw a moderate increase from 31.27% to 38.2%. This trend shifted dramatically in 2017 with a substantial surge to 77.25%.

However, the loss ratio sharply declined to 36.47% in 2018, followed by a steady increase to 50.98% in 2019. The upward trend continued with a rise to 60.73% in 2020 and a slight decrease to 57.37% in 2021. The most recent year, 2022, shows a further decline in the loss ratio to 54.4%.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and earned for mortgage guaranty insurance in Mississippi fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $25,455,000 in 2017. This increased to $27,675,000 in 2021, representing an increase of 8.7% over the period.

Direct premiums earned followed a similar trend, with the lowest amount being $25,187,000 in 2016 and the highest being $27,937,000 in 2021 - an increase of 10.9%. Looking year-over-year, the largest increase in direct premiums written was from 2019 to 2020, when it grew by $663,000 or 2.5% (from $26,696,000 to $27,359,000).

The smallest year-over-year increase was just $100,000 or 0.4% between 2017 and 2018. For direct premiums earned, the biggest jump was also between 2019 and 2020, increasing by $318,000 or 1.2% (from $27,290,000 to $27,608,000). The smallest increase was $606,000 or 2.4% between 2015 and 2016.

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Mississippi displays interesting trends over the years. The loss ratios experienced significant fluctuations, from a low of 9.8% in 2019 to a peak of 32.68% in 2016. There was a steep decrease from the 32.68% in 2016 to 11.86% in 2018, marking a substantial drop within two years.

After hitting the lowest point in 2019, the ratio surged to 30.88% in 2020, presenting a more than three-fold increase within a year. The loss ratios for the following years, 2021 and 2022, were relatively moderate at 15.07% and a yet to be determined value, respectively.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Mississippi fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $15,416,000 in 2017, while the highest was $29,413,000 in 2022. This represents an increase of over 90% from the low point in 2017 to the high point in 2022.

Direct premiums written increased each year from 2017 to 2022, with the exception of a slight dip from $19,982,000 in 2019 to $19,989,000 in 2020. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $3,865,000 or 15.1% (from $25,548,000 to $29,413,000).

Direct premiums earned followed a similar pattern to direct premiums written, with the low of $15,115,000 occurring in 2017 and the high of $28,234,000 reached in 2022. This was an increase of over 86% from 2017 to 2022. The largest year-over-year growth in direct premiums earned was also from 2021 to 2022, increasing by $4,615,000 or 19.5% (from $23,619,000 to $28,234,000).

Loss Ratios for Ocean Marine

The loss ratio data for Ocean Marine in Mississippi reveals interesting trends over the years. In 2015, the loss ratio was at 55.49%, which significantly increased to 77.27% in 2016 and nearly peaked at 99.55% in 2017. A notable rise was observed in 2018, where the loss ratio exceeded 100% to reach 104.56%.

However, dramatic changes were seen in 2019 when the loss ratio dropped to 31.13%, almost a third of the previous year's figure. This was followed by a modest rebound in 2020 with a loss ratio of 60.63%. In 2021, there was a slight decrease to 46.39%. The loss ratio in 2022 has so far seen a further decline, standing at 29.09%.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in Mississippi increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $182,656,000 in 2015. This increased each year, with the highest amount being $301,078,000 in 2022. This represents an increase of over 64% from 2015 to 2022.

Similarly, direct premiums earned started at $180,506,000 in 2015 and increased each year to $289,842,000 in 2022. This is a 60% increase over the period. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $56,331,000 or 23.2% (from $242,888,000 to $299,219,000).

The smallest year-over-year increase was 1.2%, from $201,103,000 in 2017 to $213,434,000 in 2018. For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $45,979,000 or 19.3% (from $237,759,000 to $283,738,000). The smallest increase was 0.6% from $181,231,000 in 2016 to $197,384,000 in 2017.

Loss Ratios for Inland Marine

An analysis of the loss ratio data for Inland Marine insurance in Mississippi over eight years demonstrates notable shifts and patterns. Between 2015 and 2018, the loss ratios remained relatively stable, with a minor increase from 41.1% in 2015 to 39.65% in 2018.

A more significant change occurred in 2019, when the loss ratio rose to 44.37%, which further increased to a peak of 54.13% in 2020. However, in the following years, the loss ratios experienced a decline, with 40.68% in 2021 and a slight uptick to 42.33% 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 Mississippi fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $263,000 in 2022, while the highest was $2,064,000 in 2015. This represents a decrease of over 87% from 2015 to 2022.

Direct premiums earned followed a similar trend, with the lowest amount being $679,000 in 2020 and the highest being $6,135,000 in 2015. This is a decrease of nearly 89% over the period. The largest year-over-year decrease in direct premiums written was from 2015 to 2016, when it dropped by $1,324,000 or 64.2% (from $2,064,000 to $740,000).

The smallest year-over-year decrease was just 2.3% from $1,211,000 in 2019 to $1,183,000 in 2020. For direct premiums earned, the largest annual decline was also from 2015 to 2016, falling by $2,807,000 or 45.8% (from $6,135,000 to $3,280,000). The smallest decrease was only 1.3% from $1,126,000 in 2019 to $1,117,000 in 2020.

Loss Ratios for Financial Guaranty

The loss ratio percentage for Financial Guaranty in Mississippi displays notable fluctuations over the years. From a modest 20.76% in 2015, no data is recorded for 2016. It then experienced a sharp surge to 461.19% in 2017, the highest in this observation period.

This was followed by a decline to 132.29% in 2018, still significantly above the 2015 figure. A further drop was witnessed in 2019 to 32.86%, closer to the 2015 level. Interestingly, the loss ratio fell to 0.0% in 2020 and remained constant at this figure for 2021 and 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 Mississippi fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $43,519,000 in 2017, while the highest was $58,032,000 in 2022.

For direct premiums earned, the lowest amount was $45,521,000 in 2018 and the highest was $58,893,000 in 2022. Overall, direct premiums written increased 34.2% from $48,354,000 in 2015 to $58,032,000 in 2022. Direct premiums earned increased 18.4% over the same period, from $49,760,000 to $58,893,000.

The largest year-over-year increase in direct premiums written was 16.8%, from $47,675,000 in 2016 to $55,591,000 in 2021. The smallest year-over-year increase was just 0.9% between 2019 ($45,160,000) and 2020 ($45,281,000). For direct premiums earned, the biggest jump was 16.4% from 2018 to 2019, while the smallest increase was 1.7% from 2016 to 2017.

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratio data for Mississippi displays several key findings over the years. Fluctuations are evident, with the lowest loss ratio of 9.02% in 2018 and the highest of 42.82% in 2020. A substantial decrease occurred between 2015 and 2016, where the loss ratio dropped from 26.25% to 11.25%.

However, it increased slightly to 18.75% in 2017, before plummeting again to 9.02% in 2018. Interestingly, a steady growth in the loss ratio transpired from 2018 to 2020, rising from 9.02% to 25.12% in 2019 and further to 42.82% in 2020.

Following this sharp increase, the loss ratios began to stabilize. In 2021, the loss ratio slightly decreased to 41.59%, and in 2022, it remained relatively consistent at 39.55%. 

Direct and Earned Premiums for Earthquake

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

The lowest amount of direct premiums written was $16,388,000 in 2016. The highest amount was $28,094,000 in 2022. This represents an increase of 71% over the 8 year period.

The direct premiums written increased each year from 2016 to 2022, with the exception of 2017 which saw a slight decrease from $16,388,000 in 2016 to $16,501,000 in 2017. The largest year-over-year increase was from 2020 to 2021, when direct premiums written grew by $2,045,000 or 8.8% (from $23,344,000 to $25,389,000).

The direct premiums earned followed a similar pattern to the direct premiums written, with the lowest amount of $16,465,000 in 2016 and the highest amount of $27,254,000 in 2022. This was an increase of 65% over the period. The largest year-over-year increase in direct premiums earned was from 2020 to 2021, growing by $5,296,000 or 27.6% (from $19,198,000 to $24,494,000).

Loss Ratios for Earthquake

Analysis of the earthquake loss ratio percentage in Mississippi from 2015 to 2022 shows considerable fluctuations.

Data for 2015, 2016, and 2019 are not available, leading to gaps in trend analysis. However, in 2017, the loss ratio peaked at 2.39%. The following year, 2018, it fell drastically to 0.92%, which marks a significant decrease. It then rose in 2020 to 2.54%, presenting a noticeable increase from the previous low.

Unfortunately, the data for 2021 is missing, making it difficult to determine if the upward trend continued. By 2022, the loss ratio reduced significantly to a minimal 0.24%, the lowest recorded in the available data.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Mississippi fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $320,041,000 in 2020. The highest amount was $361,104,000 in 2015. Direct premiums written decreased each year from 2015 to 2020, with the exception of a slight increase from $353,740,000 in 2017 to $351,854,000 in 2018.

The largest year-over-year decrease was from 2019 to 2020, when direct premiums written fell by $25,233,000 or 7.3% (from $345,370,000 to $320,041,000). Meanwhile, direct premiums earned followed a similar pattern to direct premiums written over the period, ranging from a low of $322,324,000 in 2020 to a high of $362,098,000 in 2015.

The largest year-over-year decrease in direct premiums earned was also between 2019 and 2020, falling by $26,587,000 or 7.6% (from $348,911,000 to $322,324,000). Both direct premiums written and earned rebounded in 2021 and 2022. From 2020 to 2021, direct premiums written grew by $21,017,000 or 6.6% while direct premiums earned increased by $18,207,000 or 5.7%.

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio percentages in Mississippi show considerable variation over the years. From a starting point of 54.71% in 2015, there was an increase to 57.82% in 2016.

Then a dip to 51.1% in 2017, and a further decrease to 43.47% in 2018. However, 2019 saw a slight increase to 45.82%, which continued into 2020 at 46.83%.

A significant rebound was noted in 2021, with the loss ratio rising to 54.52%. Despite this upswing, 2022 witnessed a drop to 47.96%. The loss ratios fluctuated within a range of 43.47% to 57.82%.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Mississippi fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $16,949,000 in 2018, while the highest was $21,534,000 in 2022.

Direct premiums earned ranged from a low of $17,278,000 in 2018 to a high of $20,975,000 in 2022. From 2015 to 2016, direct premiums written decreased from $19,101,000 to $17,608,000, a drop of 7.8%. Meanwhile, direct premiums earned went from $18,866,000 in 2015 to $18,297,000 in 2016, a decrease of 3%.

The largest year-over-year increase for direct premiums written was from 2019 to 2020, when it grew by $2,522,000 or 12.6% (from $20,062,000 to $20,584,000). The biggest jump in direct premiums earned was also from 2019 to 2020, increasing by $1,787,000 or 9.5% (from $18,730,000 to $19,517,000).

Loss Ratios for Product Liability

The Products Liability loss ratio data in Mississippi manifests unique patterns over selected years. The loss ratio recorded an exceptionally high value of 127.33% in 2015, and saw an undisclosed figure in 2016 and 2017, marked with an asterisk. In 2018, the loss ratio rebounded to 108.2%.

However, a drastic drop was observed in 2019, with the loss ratio declining to 17.77%. This downward trend was somewhat arrested in the subsequent years, with a gradual increase to 26.67% and 31.73% in 2020 and 2021 respectively. Interestingly, the year 2022 saw a slight decrease in the loss ratio to 25.85%.

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 Mississippi increased steadily from 2015 to 2022. T

he lowest amount of direct premiums written was $1,664,507,000 in 2015. This increased each year, reaching a high of $2,248,838,000 in 2022 - representing an overall increase of 35% over the 8 year period.

The direct premiums earned followed a similar trajectory, starting at $1,635,116,000 in 2015 and reaching $2,214,968,000 in 2022, for a 36% total increase. The largest year-over-year increase in direct premiums written was from 2015 to 2016, when it grew by $95,673,000 or 5.7% (from $1,664,507,000 to $1,760,180,000).

The smallest increase was just 2.9% between 2019 and 2020, from $2,007,069,000 to $2,035,848,000 - an increase of $28,779,000. The pattern is the same for direct premiums earned, with the biggest jump of 5.9% occurring from 2015 to 2016. The smallest increase was 2.2% between 2019 and 2020.

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total in Mississippi demonstrates notable trends and variations over the observed years. The loss ratios fluctuated within a range of 61.11% to 74.44%, with the lowest value recorded in 2018 and the highest in 2022.

Between 2015 and 2016, there was a slight increase in loss ratios, moving from 65.61% to 67.95%. A subsequent decrease occurred in 2017, dropping to 64.24%, before reaching the lowest point of 61.11% in 2018.

The trend then reversed, with loss ratios increasing to 63.86% in 2019 and 62.88% in 2020. In more recent years, the data shows a substantial increase, with the loss ratio percentage rising to 67.88% in 2021 and further escalating to 74.44% in 2022.

Direct and Earned Premiums for Commercial Auto

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

The lowest amount of direct premiums written was $338,021,000 in 2015. This increased each year, with the highest amount being $568,792,000 in 2022. This represents an increase of over 68% over the 8 year period.

Similarly, direct premiums earned started at $322,135,000 in 2015 and increased to $558,037,000 in 2022, a growth of over 73%. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $72,111,000 or 15.6% (from $463,549,000 to $535,960,000). The smallest increase was just 1.3% from 2016 to 2017 ($338,962,000 to $379,403,000).

For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $60,982,000 or 13.8% (from $444,098,000 to $504,080,000). The smallest increase was again from 2016 to 2017 at 1.9% ($341,428,000 to $364,481,000).

Loss Ratios for Commercial Auto

Observations from the loss ratio percentage data for Commercial Auto Total in Mississippi from 2015 to 2022 reveal intriguing patterns. The loss ratios fluctuated between 58.84% and 72.26% during the examined period. The highest loss ratio, 72.26%, was recorded in 2016, while the lowest, 58.84%, is seen in 2021.

There was a steady decrease from 72.26% in 2016 to 62.77% in 2017, followed by an increase to 67.35% in 2018. The loss ratios then remained relatively stable, with 65.34% in 2019 and 65.02% in 2020. However, this was followed by a notable drop to 58.84% in 2021, and then a surge to 64.63% in 2022.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and direct premiums earned for aircraft insurance in Mississippi fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $10,886,000 in 2017, while the highest was $20,504,000 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 $4,690,000 or 26.3% (from $17,814,000 to $20,504,000).

Direct premiums earned followed a similar pattern to direct premiums written. The lowest amount was $11,319,000 in 2016 and the highest was $19,063,000 in 2022. The largest year-over-year increase in direct premiums earned was also between 2021 and 2022, growing by $3,164,000 or 18.7% (from $16,899,000 to $19,063,000).

Loss Ratios for Aircraft

The loss ratio data for Aircraft insurance in Mississippi highlights notable trends and fluctuations over the years. The most striking observation is the significant spike in the loss ratio in 2016, reaching 106.37%, which is the highest among all years under consideration. This peak is followed by a decline to 77.82% in 2017 and further to 55.7% in 2018, indicating a downward trend for two consecutive years.

However, this trend is interrupted by a slight increase in 2019, with the loss ratio rising to 67.07%. The subsequent years, 2020 and 2021, showcase a decrease in loss ratios to 44.63% and 49.91%, respectively. The most recent year, 2022, presents the lowest loss ratio of the period at 26.07%.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and earned for fidelity insurance in Mississippi fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $7,554,000 in 2019. The highest was $8,269,000 in 2021.

Direct premiums earned followed a similar pattern, with the lowest amount being $7,622,000 in 2019 and the highest being $8,187,000 in 2021. From 2015 to 2016, direct premiums written decreased from $8,212,000 to $7,971,000, a drop of 3%. However, premiums earned increased slightly in 2016 to $7,988,000. From 2016 to 2017, premiums written and earned both increased, by 2.5% and 2.7% respectively.

Premiums declined again in 2018 and 2019, before rebounding in 2020 and seeing larger increases in 2021 and 2022. The largest year-over-year increase was from 2019 to 2020, when direct premiums written grew by 13.5% (from $7,554,000 to $8,514,000). Direct premiums earned followed a similar trajectory over this period.

Loss Ratios for Fidelity

The fidelity loss ratio in Mississippi displays interesting shifts over the monitored period. The loss ratio rose from 21.31% in 2015 to a peak of 39.17% in 2016, then declined to 27.36% in 2017. It surged again to 32.42% in 2018, but significantly dropped to 15.92% in 2019.

A pattern of volatility continues in subsequent years, with a rise to 32.21% in 2020, a sharp decline to 13.02% in 2021, and a notable resurgence to 31.37% in 2022.

Direct and Earned Premiums for Surety

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

The lowest amount of direct premiums written was $41,759,000 in 2016. The highest amount was $60,002,000 in 2022. This represents an increase of over 43% from the lowest to the highest year.

Direct premiums written increased overall from 2015 to 2022, with the exception of a dip in 2016 and 2018. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $9,118,000 or 18%.

Direct premiums earned followed a similar trend, with the lowest amount being $42,061,000 in 2016 and the highest being $55,749,000 in 2022. This was an increase of 32% from lowest to highest. The biggest year-over-year jump in direct premiums earned was from 2020 to 2021, growing by $20,052,000 or 12%.

Loss Ratios for Surety

The loss ratio data for Surety in Mississippi presents several key findings and fluctuations across the years. A notable increase in loss ratios occurs between 2016 and 2017, jumping from 13.12% to 35.53%. However, this is followed by a significant decline in 2018, with the loss ratio dropping to a low of 5.52%.

In 2019, the loss ratio data is missing, making it difficult to determine the trend for that particular year. Following this gap, 2020 and 2021 display relatively stable loss ratios of 11.15% and 11.44%, respectively. Interestingly, the loss ratio experiences another decrease in 2022, falling to 6.17%.

Direct and Earned Premiums for Warranty

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

The lowest amount of direct premiums written was $4,237,000 in 2017, while the highest was $5,226,000 in 2019. Direct premiums earned ranged from a low of $3,959,000 in 2017 to a high of $5,574,000 in 2022.

Direct premiums written increased from $4,934,000 in 2015 to $5,226,000 in 2019, before decreasing to $4,901,000 in 2021. Meanwhile, direct premiums earned followed a similar pattern, rising from $4,554,000 in 2015 to $4,820,000 in 2019, then dropping to $4,380,000 in 2021.

The largest year-over-year increase in direct premiums written was from 2017 to 2018, when it grew by $1,274,000 or 30.1% (from $4,237,000 to $5,141,000). The largest increase in direct premiums earned was from 2021 to 2022, growing by $1,194,000 or 27.3% (from $4,380,000 to $5,574,000).

Loss Ratios for Warranty

The warranty loss ratio data in Mississippi reveals compelling patterns over the years. A careful analysis of the specific percentages displays considerable changes, with loss ratios swinging from 49.0% in 2015 to an all-time high of 97.34% in 2022. The years 2016 and 2017 saw a slight rise and dip from 53.42% to 47.56%, respectively.

A significant upswing is observed in 2018 with a loss ratio of 59.01%, which continues to ascend dramatically in 2019 and 2020, recording 72.39% and 73.39%, respectively. There is a pronounced increase in 2021, with the loss ratio reaching 85.78%. The most striking rise is seen in 2022, with a loss ratio peak of 97.34%.