Market Trends

Direct and Earned Premiums for Fire

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

The lowest amount of direct premiums written was $151,094,000 in 2017. This was down from $162,570,000 in 2016, representing a 7% decrease. The highest amount of direct premiums written was $270,589,000 in 2022. This was up 18% from $228,544,000 in 2021.

Overall, direct premiums written increased steadily from 2015 to 2022, with the exception of the dip in 2017. The largest year-over-year increase was 24% between 2021 and 2022, when direct premiums written grew from $228,544,000 to $270,589,000.

Direct premiums earned followed a similar pattern to direct premiums written, but lagged behind somewhat. The lowest amount of direct premiums earned was $154,777,000 in 2017, while the highest was $247,156,000 in 2022. The largest year-over-year increase was 17% between 2021 and 2022, when direct premiums earned grew from $216,989,000 to $247,156,000.

Loss Ratios for Fire

The Fire insurance loss ratios in Oklahoma display considerable variation over the observed years. Loss ratios decreased from 44.57% in 2015 to a low of 32.73% in 2017, before a significant spike to 80.18% in 2018.

The loss ratio then decreased to 39.95% in 2020, exhibiting a general downward trend from 2015 to 2020. However, the ratios bounced back to 60.13% in 2021, and in 2022, there was an unprecedented increase, with the loss ratio soaring to 129.94%.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in Oklahoma increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $189727000 in 2015. The highest amount was $311971000 in 2022.

This represents an increase of over 64% 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 $37,143,000 or 13.7% (from $271428000 to $311971000). The smallest year-over-year increase was 0.7%, from $181669000 in 2017 to $181977000 in 2018.

The direct premiums earned followed a similar trend, with the lowest amount being $187848000 in 2015 and the highest being $286687000 in 2022. This was an increase of over 52% over the period. The largest year-over-year increase in direct premiums earned was 13.2%, from $259513000 in 2021 to $286687000 in 2022. The smallest increase was 1.2%, from $184484000 in 2016 to $180730000 in 2017.

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in Oklahoma exhibits considerable fluctuations across the years. From 2015 to 2017, the loss ratios experienced an upward trajectory, starting at 67.91% in 2015, dropping to 48.77% in 2016, and then spiking to 84.56% in 2017. However, a substantial decrease followed in 2018, with the loss ratio falling to 43.76%.

The subsequent years, 2019 and 2020, saw a resurgence in loss ratios, reaching 74.25% and 80.57%, respectively. Notably, 2021 and 2022 displayed the highest loss ratios in the dataset, with 104.72% and 106.3%, respectively. These figures indicate an increased loss proportion compared to the earned premiums during these years.

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 Oklahoma fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $160,049,000 in 2020. The highest was $422,180,000 in 2022. This represents an increase of over 160% from the low in 2020 to the high in 2022.

Direct premiums written decreased from $172,484,000 in 2015 to $170,989,000 in 2016, before increasing again in 2017 to $177,974,000. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $144,417,000 or 58.3% (from $247,763,000 to $422,180,000).

Direct premiums earned followed a similar pattern to direct premiums written over the years. The lowest direct premiums earned was $153,150,000 in 2020 and the highest was $369,544,000 in 2022. This represents an increase of over 141% from 2020 to 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $157,397,000 or 74.1% (from $212,147,000 to $369,544,000).

Loss Ratios for Multi-Peril Crop

The loss ratio data for Federal Multi-Peril Crop insurance in Oklahoma exhibits notable fluctuations across the years. In the earlier years, the loss ratios remained relatively moderate, with 46.58% in 2015 and a dip to 34.02% in 2016.

A noticeable increase occurred in 2017, reaching 53.33%, followed by a substantial spike in 2018 at 91.77%. From 2019 to 2021, the loss ratios demonstrated a gradual decline, with 67.85% in 2019, 66.52% in 2020, and 60.05% in 2021.

However, a significant upsurge transpired in 2022, as the loss ratio soared to an unprecedented 185.31%. This sharp increase in 2022 contrasts with the previous years' trends and highlights the extreme variability of the Federal Multi-Peril Crop insurance loss ratios in Oklahoma.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written and direct premiums earned for federal flood insurance in Oklahoma decreased steadily from 2015 to 2022.

The highest amount of direct premiums written was $8,697,000 in 2015. This amount decreased each year to $6,552,000 in 2022, representing an overall decline of 24.7% over the 8 year period.

Similarly, direct premiums earned peaked at $8,967,000 in 2015 before falling to $7,609,000 in 2022, a 15.1% decrease. The largest year-over-year declines in direct premiums written were from 2021 to 2022, when premiums dropped by 20.2% (from $8,208,000 to $6,552,000), and from 2015 to 2016, decreasing by 2.5% (from $8,697,000 to $8,484,000).

The smallest year-over-year decrease for direct premiums written was just 0.1% between 2018 ($8,012,000) and 2019 ($8,035,000). For direct premiums earned, the largest drop was 15.1% from 2021 ($8,199,000) to 2022 ($7,609,000). The smallest decline was 0.6% from 2016 ($8,649,000) to 2017 ($8,179,000).

Loss Ratios for Federal Flood

The Federal Flood loss ratio in Oklahoma displays considerable volatility from 2015 to 2022. In 2015, it stood remarkably high at 215.24%, before dropping significantly to 100.5% in 2016.

The downward trend continued, reaching a minimum of 7.55% in 2018. However, a remarkable surge occurred in 2019, with the loss ratio skyrocketing to 307.21%.

This remains the highest point over the observed period. Subsequently, a drastic reduction to 22.15% was seen in 2020, followed by a modest rise in subsequent years, with 2021 and 2022 recording 30.5% and 48.62% respectively.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and earned for private crop insurance in Oklahoma fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $6,522,000 in 2018, while the highest was $12,737,000 in 2019. This represents an increase of over 95% from the low point in 2018 to the high point in 2019.

Direct premiums written increased from $7,863,000 in 2015 to a peak of $12,737,000 in 2019, before decreasing to $8,902,000 in 2020 and then increasing again to $10,822,000 in 2021. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $5,215,000 or 80%.

Direct premiums earned followed a similar pattern, with the lowest amount being $7,739,000 in 2015 and the highest being $12,620,000 in 2019. This was an increase of 63% from 2015 to 2019. The largest year-over-year increase in direct premiums earned was also from 2018 to 2019, growing by $3,837,000 or 49%.

Loss Ratios for Private Crop

The loss ratio data for Private Crop insurance in Oklahoma shows noteworthy patterns and variations over the given period.

The loss ratios exhibited considerable inconsistency, peaking at 118.55% in 2015 and hitting a low of 12.58% in 2022. From 2015 to 2017, the loss ratios remained above 100%, indicating a period of high claims. The loss ratio then started falling, with a sharp decrease to 75.79% in 2018.

The year 2019 saw a slight increase to 83.95%, but a more dramatic downward trend commenced from 2020, with loss ratios dropping to 55.45% and further to 41.03% in 2021. The most significant drop was observed in 2022, with the loss ratio dipping to 12.58%.

Direct and Earned Premiums for Private Flood

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

The lowest amount of direct premiums written was $1,747,000 in 2016. This steadily increased each year, with the exception of a slight dip from $8,027,000 in 2021 to $7,159,000 in 2022. The highest direct premiums written was $8,027,000 in 2021, representing an increase of over 360% from the 2016 amount.

Similarly, direct premiums earned started at $1,075,000 in 2016 and reached its peak of $7,389,000 in 2022, representing a 588% increase over the period. The largest year-over-year growth for direct premiums written was from 2020 to 2021, increasing by $2,505,000 or 45%.

The smallest year-over-year growth was from 2018 to 2019 at $1,366,000 or 11%. For direct premiums earned, the largest growth was from 2021 to 2022, increasing by $1,042,000 or 16%. The smallest growth was from 2016 to 2017 at $1,676,000 or 156%.

Loss Ratios for Private Flood

The Private Flood loss ratio data in Oklahoma demonstrates significant oscillations over the observed years. The ratios fluctuated considerably, with the lowest point of 1.93% in 2016 and the peak at a staggering 195.09% in 2019.

A substantial surge was observed from 2016's minimal loss ratio to an elevated 64.02% in 2017, which further escalated to 100.74% in 2018, culminating in 2019's peak.

Post-2019, a sharp decline occurred, dropping to a mere 16.09% in 2020, and further reducing to 5.81% in 2021. However, a slight uptick was observed in 2022, as the loss ratio increased to 22.36%.

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 Oklahoma increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $161,694,000 in 2015. The highest amount was $197,395,000 in 2022. This represents an increase of over 22% 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 $19,952,000 or 11% (from $181,443,000 to $197,395,000). The smallest year-over-year increase was 1.8%, from $157,139,000 in 2017 to $160,419,000 in 2018. The direct premiums earned followed a similar pattern, with the lowest amount being $156,163,000 in 2015 and the highest being $191,558,000 in 2022.

This was an increase of over 22% as well. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $16,774,000 or 9.6% (from $174,784,000 to $191,558,000). The smallest increase was 0.3%, from $156,412,000 in 2017 to $158,477,000 in 2018.

Loss Ratios for Farmowners Multiple Peril

The Farmowners Multiple Peril loss ratio data for Oklahoma presents varied trends over the years 2015 to 2022.

The loss ratios display substantial changeability, with the lowest recorded at 48.36% in 2015 and peaking at 75.32% in 2020. Notably, there was a prominent increase from 52.65% in 2016 to 61.44% in 2017. However, this upward trend was short-lived as it dropped to 50.46% in 2018.

The following year, 2019, saw a slight increase to 51.85%, but nothing as dramatic as the previous rise. The year 2020 stands out with the highest loss ratio of 75.32%, after which it fell sharply to 48.44% in 2021. This recent trend of decline has been somewhat reversed in 2022, with a moderate rise to 54.08%.

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 Oklahoma increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $159,508,000 in 2015. This increased each year, reaching $214,333,000 in 2022 - an increase of over 34% over the 8 year period. Similarly, direct premiums earned grew from $155,811,000 in 2015 to $204,334,000 in 2022 - representing growth of 31%.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $19,785,000 or 10.1% (from $196,483,000 to $214,333,000). The smallest year-over-year growth for direct premiums written was 1.9%, from $160,749,000 in 2016 to $164,257,000 in 2017.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril in Oklahoma demonstrates notable variations and trends across the years.

A significant dip in loss ratios is observed between 2015 and 2018, dropping from 59.86% to 35.43%. However, this trend reverses in subsequent years, with loss ratios increasing to 55.65% in 2019 and peaking at 66.49% in 2021.

Notably, the years 2020 and 2021 display the highest loss ratios, with 64.49% and 66.49%, respectively, substantially higher than the lowest ratio of 35.43% in 2018. The years 2016 and 2022 exhibit relatively similar loss ratios, with 39.9% and 47.54%, respectively, both lower than the overall peak in 2021.

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 Oklahoma increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $527,709,000 in 2015. The highest was $709,687,000 in 2022, representing an increase of over 34% over the 8 year period.

Direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $54,890,000 or 8.4% (from $654,797,000 to $709,687,000). The smallest increase was 1.5% from 2016 to 2017 ($519,914,000 to $536,058,000). The trends for direct premiums earned are similar.

The lowest amount was $526,702,000 in 2015 and the highest was $681,947,000 in 2022, a 29% increase. The largest year-over-year growth was 8.9% between 2021 and 2022, from $624,498,000 to $681,947,000. The smallest was 0.6% between 2016 and 2017.

Loss Ratios for Commercial Multiple Peril

The Loss Ratio Percentage for Commercial Multiple Peril in Oklahoma exhibits notable variations across the observed years. In 2015, the loss ratio stood at 55.57%, which dipped to 39.99% in 2016.

This was followed by a substantial rise in 2017, with the loss ratio reaching 68.47%. In 2018, a slight decrease to 61.4% was witnessed, followed by a modest drop to 55.23% in 2019.

The loss ratio remained relatively consistent in 2020, with a percentage of 55.71%. However, 2021 saw a significant uptick to 72.87%, the highest over the period. The year 2022 marked a decrease to 59.24%.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Oklahoma increased overall from 2015 to 2022, with some fluctuations.

The lowest amount of direct premiums written was $41,936,000 in 2015. This grew steadily to $54,368,000 in 2020, representing an increase of 29.7% over that 5-year period. The direct premiums written then decreased to $52,163,000 in 2022.

The lowest amount of direct premiums earned was $41,973,000 in 2015. This increased to $54,400,000 in 2020, a growth of 29.6%. The direct premiums earned continued to rise to $53,964,000 in 2022. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $3,654,000 or 7.2% (from $50,714,000 to $54,368,000).

The smallest year-over-year increase for direct premiums written was 1.3%, from $52,298,000 in 2021 to $52,163,000 in 2022. The largest year-over-year increase in direct premiums earned was also from 2019 to 2020, when it grew by $2,569,000 or 5.0% (from $51,831,000 to $54,400,000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Oklahoma presents notable patterns and changes over the years. From 2015 to 2019, the loss ratios generally exhibit a decreasing trend, with the lowest percentage recorded in 2019 at 8.73%. In contrast, 2020 experienced a significant spike in the loss ratio, reaching 30.78%, more than triple the previous year's value.

This increase is particularly striking considering the consistent decline in the preceding years. While 2021 saw a decrease in the loss ratio to 12.09%, it remains higher than the 2019 figure. The data from 2015 to 2021 displays considerable variability, with the highest loss ratio observed in 2020 and the lowest in 2019.

Direct and Earned Premiums for Ocean Marine

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

The lowest amount of direct premiums written was $16,419,000 in 2016, while the highest was $27,937,000 in 2021. This represents an increase of over 70% from the low in 2016 to the high in 2021.

Direct premiums written decreased from $20,981,000 in 2015 to $16,419,000 in 2016 before rebounding to $19,265,000 in 2017. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $7,548,000 or 37% (from $20,389,000 to $27,937,000).

Meanwhile, direct premiums earned followed a steadier upward trend over the period, growing from $19,181,000 in 2015 to $21,256,000 in 2021. The smallest year-over-year increase was just 0.7% from 2016 to 2017 ($18,513,000 to $19,101,000). The largest jump was 11.1% between 2020 and 2021, when direct premiums earned increased from $19,412,000 to $21,256,000.

Loss Ratios for Ocean Marine

The Ocean Marine loss ratio data in Oklahoma presents fascinating patterns over the years.

The loss ratios display substantial variations, dipping to a low of 24.44% in 2022 and peaking at a staggering 91.13% in 2020. In the earlier years, the loss ratios showed a gradual increase from 35.74% in 2015 to 46.12% in 2016, followed by a slight drop to 44.39% in 2017.

However, 2018 witnessed a sharp decrease in the loss ratio to 24.57%. 2019 saw a bounce back to 35.08%, but in 2020, it skyrocketed to 91.13%. The subsequent year, it dropped significantly to 55.25% and then further plummeted to 24.44% 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 Oklahoma fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $236,046,000 in 2016. This was a decrease of 4.8% from $247,880,000 in 2015. The highest amount was $350,744,000 in 2022, representing an increase of 12.3% from $312,317,000 in 2021.

Direct premiums earned followed a similar pattern to direct premiums written. The lowest amount was $237,526,000 in 2016, while the highest was $337,155,000 in 2022. The largest year-over-year increase for direct premiums written was from 2021 to 2022 at 12.3%. The smallest year-over-year increase was just 0.7% from 2020 to 2021.

Loss Ratios for Commercial Inland Marine

The loss ratio percentages for the Inland Marine line of business in Oklahoma reveal insightful patterns and variations from 2015 to 2022. The loss ratios display considerable diversity, with the lowest at 50.29% in 2022 and the peak at 62.56% in 2020. Specifically, the 2016 figures show a rise in loss ratio to 60.14% from 53.36% in 2015.

This was followed by a decline to 51.52% in 2017, but a gradual increase was observed from 2018 (54.08%) to 2020 (62.56%). In the most recent years, 2021 and 2022, the loss ratio percentages show a decline to 53.33% and 50.29%, respectively.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Oklahoma fluctuated significantly from 2015 to 2022. The lowest amount of direct premiums written was $88,000 in 2022, while the highest was $19,705,000 in 2018. This represents an over 22,000% increase from the lowest to highest year.

Direct premiums written increased from $224,000 in 2015 to $272,000 in 2016 before dropping to $284,000 in 2017. There was then a massive spike to $19,705,000 in 2018, followed by a steep decline to just $29,000 in 2019.

Direct premiums earned followed a similar pattern, going from $6,217,000 in 2015 up to $11,553,000 in 2016, then down to $4,275,000 in 2017. The spike in 2018 resulted in premiums earned of only $707,000, followed by $1,258,000 in 2019.

The largest year-over-year increase in direct premiums written was in 2018, when it grew by $19,421,000 or 6,838% compared to 2017. The smallest year-over-year increase was just 27% from $29,000 in 2019 to $37,000 in 2020. For direct premiums earned, the biggest jump was from $4,275,000 in 2017 to $707,000 in 2018, a decrease of 83%. The smallest change was a 22% increase from $528,000 in 2021 to $694,000 in 2022.

Loss Ratios for Commercial Financial Guaranty

The Financial Guaranty loss ratio data in Oklahoma is unavailable.

Direct and Earned Premiums for Medical Professional Liability

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

The lowest amount of direct premiums written was $99,583,000 in 2015. This increased each year, with the highest amount being $116,424,000 in 2022. This represents an increase of over 17% from 2015 to 2022.

Similarly, direct premiums earned also increased from $89,812,000 in 2015 to $116,045,000 in 2022, a growth of over 29%. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $15,721,000 or 14.9% (from $105,922,000 to $115,643,000).

For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $8,907,000 or 8.6% (from $103,366,000 to $112,273,000). The smallest year-over-year increase for direct premiums written was 1.6%, from $94,743,000 in 2016 to $96,194,000 in 2017. For direct premiums earned, the smallest increase was 0.8%, from $94,901,000 in 2018 to $95,263,000 in 2019.

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratio in Oklahoma presents several noteworthy trends from 2015 to 2022. The ratios fluctuated, with the lowest at 37.27% in 2015 and peaking at 56.58% in 2018. Following this apex, there was a significant drop to 39.22% in 2020, indicating a decrease in losses compared to earned premiums.

Subsequent years, 2021 and 2022, saw a rebound, with loss ratios climbing back to 44.2% and 52.83%, respectively. The data also reveals a three-year period of rising loss ratios from 2015 to 2018.

Direct and Earned Premiums for Earthquake

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

The lowest amount of direct premiums written was $18,976,000 in 2019. The highest was $23,803,000 in 2016.

Direct premiums earned followed a similar pattern, with the lowest being $17,542,000 in 2015 and the highest being $23,792,000 in 2017. Overall, direct premiums written increased from $18,858,000 in 2015 to $19,979,000 in 2022, representing a 6% increase. Direct premiums earned grew from $17,542,000 in 2015 to $19,528,000 in 2022, an 11% increase.

The largest year-over-year increase in direct premiums written was from 2015 to 2016, when it grew by 26% from $18,858,000 to $23,803,000. The smallest was a 1% decrease from $19,976,000 in 2021 to $18,979,000 in 2022. For direct premiums earned, the biggest jump was 35% from $17,542,000 in 2015 to $23,792,000 in 2017. The smallest was a 2% decline from $19,108,000 in 2020 to $18,979,000 in 2022.

Loss Ratios for Earthquake

The loss ratio data for Earthquake insurance in Oklahoma from 2015 to 2022 shows considerable volatility. No data is available for 2015, 2020, and 2022, however, the existing information reveals distinct trends.

From 2016 to 2018, the loss ratios remained relatively stable, with minimal fluctuation from 10.78% in 2016, dipping slightly to 9.33% in 2017, before rising to 10.25% in 2018. A significant drop occurred in 2019, with the loss ratio falling to 4.17%. However, the most striking feature of the data is the extreme surge in 2021 to a loss ratio of 435.04%.

Direct and Earned Premiums for Workers Compensation

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

The lowest amount of direct premiums written was $585,330,000 in 2021. The highest was $810,551,000 in 2015. This represents a decrease of over 27% over the 8 year period.

Direct premiums written decreased each year from 2015 to 2021, with the exception of 2018 which saw a slight increase from $656,938,000 in 2017 to $662,455,000 in 2018. The largest year-over-year decrease was from 2015 to 2016, when direct premiums written fell by $118,496,000 or 14.6% (from $810,551,000 to $692,555,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period, ranging from a high of $825,341,000 in 2015 to a low of $590,085,000 in 2021. This was a decrease of over 28% over the period. In 2022, direct premiums written and direct premiums earned increased significantly compared to 2021, up 9.3% and 8.6% respectively. This could indicate a reversal of the downward trend observed from 2015 to 2021.

Loss Ratios for Workers Compensation

The Workers Compensation loss ratios in Oklahoma exhibit notable variations between 2015 and 2022.

In the early years, loss ratios slightly decreased from 53.84% in 2015 to 51.23% in 2016. A more significant drop occurred from 2016 to 2017, with the loss ratio plummeting to 38.53%. Despite a minor increase in 2018 to 41.42%, the trend continued downward, reaching its lowest point at 28.19% in 2019.

However, the data demonstrates a shift in trend from 2019 to 2020, as the loss ratio rose to 40.3%. The following years maintained this upward trajectory, with a slight dip to 37.53% in 2021 before climbing again to 46.99% in 2022. This increase in recent years contrasts with the earlier downward trend observed between 2015 and 2019.

Direct and Earned Premiums for Product Liability

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

The lowest amount of direct premiums written was $35,522,000 in 2016, decreasing from $42,861,000 in 2015. The highest amount was $44,849,000 in 2022.

Direct premiums earned followed a similar pattern, with the lowest amount being $37,198,000 in 2016 and the highest being $45,494,000 in 2015. Overall, direct premiums written increased by 4.6% from 2015 ($42,861,000) to 2022 ($44,849,000).

Direct premiums earned decreased by 5.6% over the same period, from $45,494,000 in 2015 to $42,954,000 in 2022. The largest year-over-year increase for direct premiums written was from 2020 to 2021, when premiums grew by 3.8% from $37,052,000 to $38,469,000. The largest decrease was from 2015 to 2016, when premiums declined by 17.1%.

Loss Ratios for Product Liability

The Products Liability loss ratio data for Oklahoma exhibits marked fluctuations and trends over the eight-year period. In 2015, the loss ratio stood at 58.83%, followed by a drastic drop in 2016 to 4.08%. The subsequent years saw a moderate rise to 12.19% in 2017 and a decline to 6.31% in 2018. The most noticeable change occurred between 2018 and 2019, with the loss ratio more than quintupling from 6.31% to 32.16%.

However, from 2019 to 2020, the loss ratio percentage experienced a decrease to 23.82%. In the most recent years, 2021 and 2022, the loss ratios demonstrated relative stability, with percentages of 21.93% and 21.28%, respectively. Throughout this time frame, the highest loss ratio was observed in 2015 at 58.83%, while the lowest occurred in 2016 at 4.08%.

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 Oklahoma increased overall from 2015 to 2022.

The lowest amount of direct premiums written was $2,412,452,000 in 2015. This increased each year, with the exception of 2020 which saw a slight decrease to $2,813,656,000 from $2,814,272,000 in 2019. The highest direct premiums written was $3,145,522,000 in 2022. This represents an overall increase of 30.4% from 2015 to 2022.

Similarly, direct premiums earned started at $2,379,334,000 in 2015 and increased steadily to $3,052,000,000 in 2022, for an overall increase of 28.3%. The largest year-over-year increase in direct premiums written was from 2021 to 2022 at 7.4% (from $2,927,603,000 to $3,145,522,000). The smallest was just 0.2% between 2019 and 2020. For direct premiums earned, the largest increase was also between 2021 and 2022 at 6.1% (from $2,879,827,000 to $3,052,000,000).

Loss Ratios for Private Passenger Auto

The loss ratio percentages for Private Passenger Auto Total in Oklahoma show some interesting trends over the years. The highest loss ratio was in 2022 at 70.64%, followed closely by 67.47% in 2021.

In contrast, the lowest loss ratio occurred in 2018, at 53.44%. From 2015 to 2018, the loss ratios experienced a steady decline, moving from 63.43% to 53.44%. However, this trend reversed in 2019, with the loss ratio rising to 57.93%. Further slight decrease was seen in 2020, with a loss ratio of 55.84%.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto insurance in Oklahoma increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $445,993,000 in 2015. The highest was $696,360,000 in 2022. This represents an increase of over 56% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $45,159,000 or 6.9% (from $651,501,000 to $696,360,000). The smallest year-over-year increase was 1.4%, from $587,251,000 in 2020 to $596,360,000 in 2021.

The direct premiums earned followed a similar trajectory, with the lowest amount being $441,534,000 in 2015 and the highest being $680,297,000 in 2022. This was an increase of over 54% over the period. As with direct premiums written, direct premiums earned increased each year. The largest year-over-year increase was 6.8% from 2021 to 2022 (from $620,149,000 to $680,297,000) and the smallest was 1.3% from 2020 to 2021.

Loss Ratios for Commercial Auto

The loss ratio data for Commercial Auto Total in Oklahoma, from 2015 to 2022, shows an interesting pattern of slight variability. The loss ratios oscillate between the lowest at 52.15% in 2021 and the highest at 59.9% in 2019.

A modest decrease is observed in the loss ratio from 57.63% in 2015 to 52.75% in 2017. However, an uptick was registered in the subsequent year, reaching 56.15% in 2018.

The loss ratio peaked in 2019, only to drop to 53.61% in 2020. Interestingly, the lowest loss ratio of the entire period was recorded in 2021, but a slight increase was noted in 2022, with the ratio rising to 55.03%.

Direct and Earned Premiums for Aircraft

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

The lowest amount of direct premiums written was $17,088,000 in 2015. This amount increased each year, with the exception of 2016 which saw a slight decrease to $17,862,000.

The highest direct premiums written was $30,067,000 in 2022, representing an increase of over 75% from 2015. Similarly, the lowest direct premiums earned was $17,045,000 in 2015. This metric also increased each year except for 2016 when it remained nearly flat at $17,043,000.

The highest direct premiums earned was $29,779,000 in 2022, an increase of over 74% compared to 2015. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $4,611,000 or 20.6% (from $22,346,000 to $26,957,000). The smallest year-over-year increase was just 1.2%, from $18,822,000 in 2018 to $19,034,000 in 2019.

Loss Ratios for Aircraft

The Aircraft line of business in Oklahoma exhibited intriguing patterns in loss ratio percentages over the years. The percentages experienced a substantial increase from 22.84% in 2015 to a peak of 61.55% in 2019.

A noticeable spike occurred between 2015 and 2016, where the loss ratio jumped from 22.84% to 48.77%. While the subsequent years saw some fluctuations, the loss ratio remained relatively high, with 41.66% in 2017 and 59.42% in 2018. However, a significant drop is evident in 2020, with the rate falling to 44.65%. The most recent years, 2021 and 2022, have seen relatively stable loss ratios of 48.05% and 46.26% respectively.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in Oklahoma fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $10,948,000 in 2017, while the highest was $13,353,000 in 2022.

Direct premiums written increased overall during the period, with the largest year-over-year increase occurring between 2021 and 2022, when direct premiums written grew by $1,081,000 or 8.1% (from $13,272,000 to $13,353,000).

Direct premiums earned followed a similar trend, ranging from a low of $11,053,000 in 2015 to a high of $13,166,000 in 2022. The largest year-over-year increase in direct premiums earned was between 2020 and 2021, when it grew by $763,000 or 6.5% (from $11,778,000 to $12,541,000).

Loss Ratios for Fidelity

The data for Fidelity loss ratios in Oklahoma is unavailable.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in Oklahoma fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $61,849,000 in 2017, while the highest was $91,415,000 in 2022.

Direct premiums written increased each year from 2017 to 2022, with the exception of 2019 which saw a slight decrease from $67,468,000 in 2018 to $65,945,000 in 2019. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when premiums grew by $17,119,000 or 23.0% (from $74,296,000 to $91,415,000).

The smallest year-over-year increase was just 1.8%, from $65,945,000 in 2019 to $67,464,000 in 2020. For direct premiums earned, the lowest amount was $62,225,000 in 2017 and the highest was $80,683,000 in 2022. Like direct premiums written, direct premiums earned also increased each year from 2017 to 2022, except for a dip in 2019.

The biggest year-over-year jump was from 2021 to 2022, when direct premiums earned grew by $6,962,000 or 9.5% (from $73,721,000 to $80,683,000). The smallest increase was just 0.9% from 2016 to 2017.

Loss Ratios for Surety

The Surety line of business in Oklahoma experienced fluctuating loss ratios from 2015 to 2022. In 2015, the loss ratio stood at 16.48%, dipping slightly to 13.61% in 2016.

Data is unavailable for 2017; however, in 2018, the loss ratio further decreased to a low of 9.01%. A sharp increase was observed in 2019, with the ratio jumping to 19.73%, the highest in this period.

The upward trend continued into 2020 when the ratio further escalated to 32.43%. A dramatic drop was noted in 2021 when the loss ratio hit a record low of 2.35%. The following year, 2022, saw a moderate increase to 8.63%.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and earned for warranty insurance in Oklahoma fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $11,241,000 in 2022, while the highest was $18,664,000 in 2018.

Direct premiums written increased each year from 2015 to 2018, before decreasing in 2019 to $15,111,000. There was then another increase from 2019 to 2021, when direct premiums written reached $18,175,000. For direct premiums earned, the lowest amount was $10,647,000 in 2015 and the highest was $21,741,000 in 2019.

Unlike direct premiums written, direct premiums earned did not consistently increase or decrease year-over-year. The largest year-over-year increase in direct premiums earned was from 2018 to 2019, when it grew by $7,351,000 or 51%. The largest decrease was from 2019 to 2020, when direct premiums earned fell by $9,108,000 or 42%.

Loss Ratios for Warranty

The Warranty Loss Ratio data for Oklahoma presents a noteworthy progression over the years. From 2015 to 2018, there is an evident upward trajectory in loss ratios.

The 2015 loss ratio stands at 47.27%, while 2016 sees only a slight decrease to 46.11%. In 2017, the value rises to 54.3%, and 2018 experiences a substantial jump to 65.74%. However, in 2019, the loss ratio drops to 48.59%, almost returning to the 2015 level.

This decline is short-lived as the ratio increases again in 2020 to 58.61%. The trend continues with 2021 registering a 64.55% loss ratio. Most strikingly, 2022 records the highest loss ratio among the years at 79.81%, marking a significant increase compared to the previous years.