Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and direct premiums earned for fire insurance in Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $441,435,000 in 2015. The highest amount was $631,751,000 in 2022.

This represents an increase of over 43% over the 8 year period. The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $83,695,000 or 16.1% (from $518,712,000 to $570,407,000). The smallest year-over-year increase was 1.7%, from $419,608,000 in 2017 to $423,077,000 in 2018. The direct premiums earned followed a similar pattern to the direct premiums written, with steady increases each year from 2015 to 2022.

The lowest amount of direct premiums earned was $433,937,000 in 2015. The highest amount was $597,244,000 in 2022. This represents an increase of over 37% over the 8 year period. The largest year-over-year increase in direct premiums earned was from 2020 to 2021, when it grew by $48,332,000 or 9.7% (from $495,553,000 to $543,885,000). The smallest year-over-year increase was 0.2%, from $432,826,000 in 2016 to $422,073,000 in 2017.

Loss Ratios for Fire

The loss ratio percentages for Fire insurance in Pennsylvania demonstrate fascinating fluctuations over the analyzed years. In 2015, it was notably high at 78.4%, but it dropped significantly to 37.75% in 2016 and further decreased to 32.32% in 2017.

The loss ratio saw a moderate increase in 2018, reaching 49.1%, only to skyrocket to 87.44% in 2019. A decline transpired in 2020, with the ratio at 66.75%, but this figure is still substantial compared to the 2017 low. The loss ratio dipped slightly to 49.3% in 2021 before rising again to 72.19% in 2022.

Direct and Earned Premiums for Allied Lines

The data shows that direct premiums written and direct premiums earned for allied lines insurance in Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $285,108,000 in 2017. The highest amount was $488,602,000 in 2022. This represents an increase of over 71% 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 $297,035,000 in 2015 to $296,295,000 in 2016.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $51,465,000 or 11.8% (from $437,137,000 to $488,602,000). The direct premiums earned followed a similar pattern to the direct premiums written, with the lowest amount being $287,359,000 in 2017 and the highest being $462,943,000 in 2022. This was an increase of over 61% over the period.

The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, growing by $38,592,000 or 9.1% (from $423,851,000 to $462,943,000). The smallest year-over-year increase for direct premiums written was 1.2%, from $296,295,000 in 2016 to $299,035,000 in 2017. For direct premiums earned, the smallest increase was 0.3% from 2016 to 2017 ($295,125,000 to $287,359,000).

Loss Ratios for Allied Lines

The Allied Lines loss ratio data for Pennsylvania from 2015 to 2022 displays notable variations. Starting at a modest 39.66% in 2015, the loss ratio slightly dipped to 39.01% in 2016, indicating a marginal decrease. However, a significant surge was observed in 2017, with the loss ratio soaring to 59.01%.

The upward trend continued into 2018, with an even higher loss ratio of 71.54%. Interestingly, the ratio skyrocketed to 102.53% in 2019, marking the peak of the data set. This was followed by a drastic reduction to 55.73% in 2020, implying a considerable fluctuation in the loss ratio within a year. In the subsequent years, the loss ratio moderately increased to 59.64% in 2021, and then dropped to 43.79% in 2022.

Direct and Earned Premiums for Multi-Peril Crop

The data shows that direct premiums written and direct premiums earned for Federal Multi-Peril Crop insurance in Pennsylvania fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $49,357,000 in 2018, while the highest was $81,648,000 in 2022.

This represents an increase of over 65% from the low point in 2018 to the high point in 2022. Direct premiums written increased steadily from 2018 to 2022, with the exception of a slight dip from 2019 ($52,775,000) to 2020 ($53,993,000). The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $24,198,000 or 33.4% (from $72,450,000 to $81,648,000).

Direct premiums earned followed a similar pattern to direct premiums written over the period, with the low of $52,869,000 in 2018 and the high of $81,305,000 in 2022. The biggest year-over-year jump was also from 2021 to 2022, increasing by $11,279,000 or 16.1% (from $70,026,000 to $81,305,000).

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio data in Pennsylvania demonstrates considerable fluctuations across the years analyzed.

The highest loss ratio recorded was in 2020, at 93.97%, while the lowest occurred in 2015, with a 48.02% loss ratio. A significant increase in the loss ratio was observed between 2015 and 2016, where it jumped from 48.02% to 93.89%. From 2016 to 2018, the loss ratios experienced a downward trend, with a decrease from 93.89% to 61.17%.

However, this trend was short-lived, as the loss ratios climbed again in 2019, reaching 69.39%. Another substantial increase was observed in 2020, with the loss ratio reaching its peak at 93.97%. In the following years, the loss ratios showed a slight decrease, with 2021 recording an 87.15% loss ratio and 2022 showcasing a more substantial drop to 64.96%.

Direct and Earned Premiums for Federal Flood

The data shows that direct premiums written for federal flood insurance in Pennsylvania fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $44,643,000 in 2022. The highest amount was $57,141,000 in 2021.

The direct premiums written decreased from 2015 to 2016, going from $54,655,000 down to $52,264,000 (a 4.3% decrease). After this initial dip, direct premiums written increased each year from 2016 to 2021. The largest year-over-year increase during this period was from 2018 to 2019, when direct premiums written grew by $2,076,000 or 3.9% (from $52,727,000 to $53,803,000).

The direct premiums earned followed a similar pattern to direct premiums written over the 2015-2022 period. Direct premiums earned ranged from a low of $50,747,000 in 2022 to a high of $55,873,000 in 2021. The largest year-over-year increase in direct premiums earned was from 2018 to 2019, growing by $1,770,000 or 3.4% (from $51,859,000 to $52,629,000).

Loss Ratios for Federal Flood

The Federal Flood loss ratio data for Pennsylvania exhibits significant fluctuations throughout the years 2015 to 2022. In the early years, the loss ratios were relatively low, with 3.24% in 2015 and 7.54% in 2016. However, a sharp increase to 16.67% is observed in 2017. The most dramatic change occurs in 2018, with the loss ratio skyrocketing to 75.25%.

This spike is followed by a decline to 32.06% in 2019, but the loss ratio surges again to 69.48% in 2020. The highest value in the dataset appears in 2021, with an unprecedented loss ratio of 138.5%, more than double the previous peak in 2018. In contrast, 2022 shows a significant decrease in the loss ratio, returning to a lower value of 15.98%.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and direct premiums earned for private crop insurance in Pennsylvania fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $121,000 in 2017, while the highest was $1,004,000 in 2021.

This represents an increase of over 730% from the low in 2017 to the high in 2021. Looking at direct premiums written, there was a decrease from $148,000 in 2015 to $145,000 in 2016. Then there was a sizable drop to $121,000 in 2017, followed by a large spike to $656,000 in 2018. Direct premiums written fell to $574,000 in 2019 before increasing each year after that, up to the high of $1,004,000 in 2021. The biggest year-over-year increase was from 2017 to 2018, when direct premiums written grew by $535,000 or 442%.

For direct premiums earned, the lowest amount was $113,000 in 2017 and the highest was $1,004,000 in 2021. This was a 789% increase. Direct premiums earned lagged behind direct premiums written in most years. The largest differences were in 2018 ($656,000 written vs $487,000 earned) and 2019 ($574,000 written vs $487,000 earned).

Loss Ratios for Private Crop

The Private Crop loss ratio figures for Pennsylvania display substantial variance from 2015 to 2022. The ratio dipped to a low of 26.05% in 2022 from a high of 282.89% in 2019. In the intervening years, the metrics fluctuated wildly. From an initial 29.43% in 2015, there was a sharp increase to 135.3% in 2016, before a slight decline to 112.78% in 2017.

However, in 2018, the loss ratio plummeted to 26.29%, only to skyrocket to the aforementioned peak in 2019. It then fell again to 180.04% in 2020 and continued this downward trend to 77.19% in 2021.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and direct premiums earned for private flood insurance in Pennsylvania increased substantially from 2016 to 2022. The lowest amount of direct premiums written was $13,241,000 in 2016. This steadily increased each year, with the highest amount being $39,182,000 in 2022. This represents an increase of over 195% over the 7 year period.

Direct premiums earned followed a similar upward trend, starting at $6,927,000 in 2016 and reaching $36,693,000 in 2022, an increase of over 430%. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $13,217,000 or 64.3% (from $20,549,000 to $33,766,000).

The smallest year-over-year increase was just 11.8%, from $22,141,000 in 2018 to $24,752,000 in 2019. For direct premiums earned, the biggest jump was from 2016 to 2017, increasing by $10,740,000 or 155% (from $6,927,000 to $17,667,000). The smallest increase was only 4.9%, from $20,190,000 in 2018 to $21,198,000 in 2019.

Loss Ratios for Private Flood

The loss ratio data for Private Flood insurance in Pennsylvania exhibits significant fluctuations from 2016 to 2022. While there was no data available for 2016, a low of 7.1% was recorded in 2017. The loss ratio then dramatically rose to 33.25% in 2018, only to decrease to 22.86% in the following year.

Interestingly, 2020 saw a significant increase, reaching 38.77%. The most striking observation is the surge in 2021, with the loss ratio skyrocketing to 137.08%, which is an anomaly compared to other years. However, the loss ratio plunged to 13.26% in 2022, reflecting high variability in the data.

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 Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $103,859,000 in 2015. The highest amount was $118,720,000 in 2022.

This represents an increase of over 14% 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 $2,614,000 or 2.3% (from $112,817,000 to $115,431,000). The smallest year-over-year increase was 1.7%, from $107,663,000 in 2017 to $109,663,000 in 2018.

The trends for direct premiums earned are similar. The lowest amount was $102,266,000 in 2015 and the highest was $114,912,000 in 2022, an increase of over 12% over the period. The largest year-over-year increase in direct premiums earned was also from 2020 to 2021, when it grew by $2,700,000 or 2.4% (from $112,031,000 to $113,731,000). The smallest increase was 1.7%, from 2016 to 2017.

Loss Ratios for Farmowners Multiple Peril

Analysis of loss ratio data for Farmowners Multiple Peril in Pennsylvania reveals distinct patterns and variations over the years. The loss ratios show a degree of inconsistency, with the lowest ratio recorded in 2021 at 40.36%, while the highest peaked in 2019 at 55.27%. The years 2015 and 2016 observed closely competitive loss ratios of 46.31% and 45.69% respectively. There was a slight increase in 2017, reaching 49.05%, followed by a significant drop to 42.12% in 2018.

However, the most noticeable spike occurred in 2019 when the loss ratio surged to 55.27%. This was then followed by a slight reduction to 51.8% in 2020. Despite the variability, a general trend can be noticed. The loss ratio decreased from 2019 to 2021, followed by a moderate increase in 2022 to 47.53%.

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 Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $324,851,500 in 2015. The highest amount was $423,535,000 in 2022. This represents an increase of over 30% 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 $36,569,000 or 9.4% (from $386,678,600 to $423,535,000). The smallest year-over-year increase was 2.1%, from $333,120,500 in 2017 to $340,426,800 in 2018.

The trends for direct premiums earned are similar. The lowest amount was $320,625,200 in 2015 and the highest was $404,764,100 in 2022, an increase of over 26%. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at 8.1% (from $374,328,300 to $404,764,100). The smallest increase was 2.0% from 2016 to 2017.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril in Pennsylvania displays distinct patterns over the years. In 2015, the loss ratio was at 51.15%, and it decreased considerably to 39.99% in 2016. However, it slightly rose in 2017 to 43.94%.

A notable upward trend is seen in 2018 and 2019, with the ratios reaching 59.07% and 64.96% respectively. In 2020, there was a minor decrease to 57.91%, but the ratio once again increased to 60.7% in 2021. In the most recent year, 2022, a slight decrease was observed, with the loss ratio at 57.79%.

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 Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $1,704,178,000 in 2015. The highest was $2,253,489,000 in 2022. This represents an increase of over 32% 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 $534,846,000 or 27.3% (from $1,957,338,000 to $2,081,184,000).

The smallest year-over-year increase was 2.6%, from $1,728,326,000 in 2016 to $1,757,717,000 in 2017. The trends for direct premiums earned are similar. The lowest amount was $1,698,612,000 in 2015 and the highest was $2,178,542,000 in 2022, a 28% increase. The largest year-over-year jump was 26.8% between 2020 and 2021, and the smallest was 1.5% between 2016 and 2017.

Loss Ratios for Commercial Multiple Peril

Analysis of the loss ratio data for Commercial Multiple Peril in Pennsylvania reveals notable shifts over the years. The loss ratios display a significant range, reaching a peak of 60.17% in 2018 and a trough of 43.17% in 2016. The period from 2015 to 2018 saw an increase in loss ratios, culminating in the highest value of the dataset in 2018.

This was followed by a minor decrease in 2019 and 2020, with loss ratios of 59.46% and 58.78% respectively. In 2021, there was a more pronounced drop to 47.45%, representing the second-lowest value in the dataset. However, 2022 saw a rebound, with the loss ratio rising to 55.21%.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in Pennsylvania increased overall from 2015 to 2022. The lowest amount of direct premiums written was $181,376,000 in 2015. This increased each year, reaching a high of $198,261,000 in 2021 before decreasing slightly to $195,043,000 in 2022. This represents an increase of 7.6% from 2015 to 2022.

Direct premiums earned followed a similar trend, starting at $166,342,000 in 2015 and reaching a peak of $209,868,000 in 2021 before decreasing to $203,190,000 in 2022. This was an overall increase of 22.3% over the period. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $4,359,000 or 2.3% (from $190,985,000 to $195,244,000).

The smallest year-over-year increase was just 0.5% from 2016 to 2017 ($176,933,000 to $180,288,000). For direct premiums earned, the biggest jump was from 2019 to 2020, increasing by $11,206,000 or 5.5% (from $202,128,000 to $213,334,000). The smallest increase was 1.3% from 2016 to 2017 ($170,951,000 to $178,496,000).

Loss Ratios for Mortgage Guaranty

The Mortgage Guaranty loss ratio data for Pennsylvania illustrates significant changes across the studied years. In 2015, the loss ratio was 37.43%, which dropped notably to 30.26% in 2016. A much sharper decline was observed from 2016 to 2017, with the ratio plunging to 13.59%.

The downward trend continued in 2018 and 2019, with loss ratios reaching 8.03% and 7.08%, respectively. However, in 2020, the loss ratio spiked to 28.6%, breaking the previous declining pattern. The most striking change was seen in 2021, where the ratio plummeted to a minute 0.42%.

Direct and Earned Premiums for Ocean Marine

The data shows that direct premiums written and direct premiums earned for ocean marine insurance in Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $59,114,000 in 2016. The highest amount was $101,141,000 in 2022. This represents an increase of over 71% over the 8 year period.

The direct premiums written increased each year from 2016 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $14,801,000 or 17.2% (from $86,340,000 to $101,141,000). The smallest year-over-year increase was 1.5%, from $58,226,000 in 2017 to $59,114,000 in 2016.

The direct premiums earned followed a similar trend, with the lowest amount being $583,74,000 in 2017 and the highest being $97,239,000 in 2022. This was an increase of over 66% over the period. The largest year-over-year growth in direct premiums earned was 16.7%, from $84,284,000 in 2021 to $97,239,000 in 2022. The smallest increase was 0.9%, from $595,66,000 in 2015 to $596,62,000 in 2016.

Loss Ratios for Ocean Marine

An examination of the Loss Ratio Percentage for the Ocean Marine line of business in Pennsylvania over the past years reveals a dynamic trend. The data shows considerable fluctuations, with the loss ratios veering between a low of 36.56% in 2018 and a peak of 78.38% in 2019.

In the years following 2019, there was a significant decrease to 57.07% in 2020, then a slight drop in 2021 at 46.89%, and a marginal decrease in 2022 to 44.16%. The years 2015 and 2016 showed steadier figures at 45.81% and 38.35% respectively, while 2017 saw an increase to 57.26%.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $652,790,000 in 2015.

This increased each year, with the exception of 2020 which saw a slight decrease to $880,569,000 from $892,865,000 in 2019. The highest amount of direct premiums written was $1,139,128,000 in 2022. This represents an overall increase of 74.6% from 2015 to 2022. Similarly, direct premiums earned started at $645,263,000 in 2015 and increased each year except 2020 when it decreased to $871,235,000 from $874,178,000 in 2019.

The highest direct premiums earned was $1,091,483,000 in 2022, representing a 69.1% increase from 2015. The largest year-over-year increase in direct premiums written was from 2021 to 2022 at 11.5% (from $1,022,430,000 to $1,139,128,000). The smallest year-over-year increase was just 0.9% from 2020 to 2021.

Loss Ratios for Inland Marine

The Inland Marine loss ratio data for Pennsylvania demonstrates some intriguing patterns and variations throughout the years 2015 to 2022. A noticeable fluctuation in loss ratios can be observed, with values ranging from a low of 39.72% in 2022 to a peak of 63.06% in 2016.

The data exhibits two periods of decline: the first between 2016 and 2019, with the loss ratio dropping from 63.06% to 40.82%, and the second between 2020 and 2022, with a reduction from 58.04% to 39.72%. Conversely, there are two instances of increase: a slight rise between 2015 to 2016, with the percentage moving from 46.42% to 63.06%, and a more moderate increment from 2017 to 2020, with the values going from 46.73% to 58.04%.

Direct and Earned Premiums for Financial Guaranty

The data shows that direct premiums written and direct premiums earned for financial guaranty insurance in Pennsylvania fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $11,124,000 in 2021, while the highest was $19,700,000 in 2016.

Direct premiums written decreased from $9,584,000 in 2015 to $11,124,000 in 2021, before increasing to $19,677,000 in 2022. Direct premiums earned followed a similar pattern, with the lowest amount being $12,932,000 in 2021 and the highest being $75,173,000 in 2015.

There was a major decrease in direct premiums earned from $75,173,000 in 2015 to $12,932,000 in 2021. The largest year-over-year decrease for direct premiums earned was from 2017 to 2018, when it dropped by $32,188,000 or 65.2% (from $49,363,000 to $17,505,000).

Loss Ratios for Commercial Financial Guaranty

In the analysis of Financial Guaranty loss ratios in Pennsylvania, specific years show noticeable variations. Notably, a significant increase is observed in 2019, with the loss ratio reaching 39.67%, compared to 0.77% in 2016. However, this spike is followed by a drastic decline to 4.27% in 2021, suggesting a substantial decrease in losses relative to earned premiums in that year.

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 Pennsylvania fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $646,116,000 in 2017. This was down from $683,902,000 in 2016, representing a decrease of about 5.5%.

The highest amount of direct premiums written was $912,565,000 in 2022. This was up significantly from $783,516,000 in 2021, representing an increase of over 16%. The direct premiums earned followed a similar pattern to the direct premiums written. The lowest amount was $654,430,000 in 2017, while the highest was $876,826,000 in 2022.

Loss Ratios for Medical Professional Liability

The Medical Professional Liability loss ratios in Pennsylvania show interesting variations over the years. The data spans from 45.13% in 2015 to a peak of 67.13% in 2017. The year 2017 marked the highest loss ratio, after which there was a decline to 54.83% in 2019.

However, the trend leans toward an increase, with 2022 displaying a loss ratio of 64.58%. This recent rise follows a moderate dip in 2020 (58.63%) and a slight decrease in 2021 (57.63%).

Direct and Earned Premiums for Earthquake

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

The lowest amount of direct premiums written was $14,942,000 in 2017. The highest amount was $27,387,000 in 2022. Direct premiums written increased overall from 2015 to 2022, with the exception of a dip from $15,800,000 in 2016 to $14,942,000 in 2017.

Direct premiums earned followed a similar pattern to direct premiums written. The lowest amount was $14,956,000 in 2017, while the highest was $26,410,000 in 2022. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $9,151,000 or 46.2% (from $19,807,000 to $27,958,000). The smallest year-over-year increase was just 1.2%, from $16,954,000 in 2015 to $17,205,000 in 2018.

Loss Ratios for Earthquake

In Pennsylvania, the Earthquake line of business experienced varied loss ratio percentages from 2015 to 2022. There was no recorded loss in 2015, followed by a minor 0.07% in 2016. Subsequently, in 2017, a significant increase manifested to 0.48%. Remarkably, 2018 saw a drastic spike in the loss ratio to 5.16%, the highest over this period.

However, this was followed by a sharp drop to 0.37% in 2019. Furthermore, a rebound occurred in 2020 with the loss ratio rising to 2.53%. In the recent years of 2021 and 2022, the loss ratios remained relatively steady, at 1.8% and 2.44% respectively.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in Pennsylvania fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $234,495,200 in 2021, while the highest was $2,784,158,000 in 2018.

Direct premiums written increased from $2,724,970,000 in 2015 to a peak of $2,784,158,000 in 2018, before decreasing to $2,344,952,000 in 2021. They then increased again to $2,606,248,000 in 2022. Direct premiums earned followed a similar pattern, starting at $2,717,988,000 in 2015, peaking at $2,727,143,000 in 2018, dropping to $2,335,669,000 in 2021, and recovering to $2,568,607,000 in 2022.

The largest year-over-year increase in direct premiums written was from 2017 to 2018, when they grew by $630,493,000 or 24.1% (from $2,615,365,000 to $2,784,158,000). The largest decrease was from 2020 to 2021, when direct premiums written fell by $132,354,000 or 5.6% (from $2,368,806,000 to $2,344,952,000).

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio data for Pennsylvania displays considerable fluctuations across the years. In 2015, the loss ratio stood at 59.71%, followed by a slight increase in 2016 to 61.75%. However, a sharp decline occurred in 2017, with the loss ratio dropping to 42.27%. This decrease was short-lived, as 2018 saw a rebound to 48.1%. From 2018 to 2019, the loss ratio experienced another increase, reaching 54.43%.

This upward trend was interrupted in 2020 when the loss ratio dropped again to 42.03%. The latest data for 2021 and 2022 indicate a return to growth, with loss ratios of 47.9% and 49.95%, respectively. Throughout the analyzed period, the highest loss ratio occurred in 2016 at 61.75%, while the lowest was in 2020 at 42.03%.

Direct and Earned Premiums for Product Liability

The data shows that direct premiums written and direct premiums earned for products liability insurance in Pennsylvania increased overall from 2015 to 2022, with some fluctuations. The lowest amount of direct premiums written was $143,084,000 in 2015.

This increased to $146,786,000 in 2018, representing a 2.6% increase over that period. The highest amount of direct premiums written was $167,095,000 in 2022, a 17% increase from 2015. Direct premiums earned followed a similar trend, with the lowest amount being $142,649,000 in 2015 and the highest being $161,188,000 in 2022, a 13% increase.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $18,368,000 or 12.3% (from $148,727,000 to $167,095,000). The smallest year-over-year increase was just 0.3% from 2015 to 2016. For direct premiums earned, the largest increase was also from 2021 to 2022 at 6.4% (from $151,915,000 to $161,188,000). The smallest increase was 0.9% from 2016 to 2017.

Loss Ratios for Product Liability

The loss ratio data for Products Liability in Pennsylvania showcases notable fluctuations across the years. The most striking observation is the drastic increase from 76.93% in 2015 to 119.32% in 2016, followed by a sharp decline to 46.66% in 2017. This inconsistency continues as the loss ratio rises to 75.17% in 2018 and peaks at 114.05% in 2019.

In subsequent years, the loss ratio remains over 100% with 111.55% in 2020, indicating a challenging period for insurers. However, the data shows some stabilization as the loss ratio slightly decreases to 75.15% in 2021 and moderately increases to 83.82% in 2022.

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 Pennsylvania increased overall from 2015 to 2022.

The lowest amount of direct premiums written was $7,840,873,000 in 2015. This increased each year, with the exception of 2020 which saw a slight decrease to $9,048,443,000 from $9,223,112,000 in 2019. The highest amount of direct premiums written was $9,607,726,000 in 2022. This represents an overall increase of 22.5% from 2015 to 2022.

The direct premiums earned followed a similar pattern, with the lowest amount being $7,738,939,000 in 2015 and the highest being $9,421,917,000 in 2022. This was an overall increase of 21.7% over the period. The largest year-over-year increase in direct premiums written was from 2015 to 2016, when it grew from $7,840,873,000 to $8,270,326,000. The smallest increase was just 0.8% between 2020 and 2021 (from $9,048,443,000 to $9,267,954,000).

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total in Pennsylvania displays noticeable variations between 2015 and 2022. The loss ratios range from a minimum of 55.09% in 2020 to a maximum of 77.69% in 2022. A general downward trend is observed from 2015 (66.8%) to 2018 (61.68%), followed by fluctuations in the subsequent years. The loss ratio slightly increased in 2019 (65.26%) compared to 2018, then experienced a significant drop to 55.09% in 2020.

However, a sharp increase is seen in 2021 (67.83%) and 2022 (77.69%), with 2022 presenting the highest loss ratio percentage among the specified years. Notably, the two most recent years, 2021 and 2022, witnessed an upward trend in the loss ratio percentages, with an increase of approximately 22.6% from 2020 to 2022.

Direct and Earned Premiums for Commercial Auto

The data shows that direct premiums written and direct premiums earned for commercial auto liability insurance in Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $1,350,422,000 in 2015. The highest amount was $2,199,563,000 in 2022. This represents an increase of over 60% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $414,437,000 or 24.9% (from $1,666,605,000 to $1,808,042,000). The smallest year-over-year increase was 0.4%, from $1,798,468,000 in 2020 to $1,782,291,000 in 2021.

The direct premiums earned followed a similar pattern, with the lowest amount being $1,324,158,000 in 2015 and the highest being $2,118,868,000 in 2022. This represents an increase of over 60% as well. The largest year-over-year increase in direct premiums earned was also from 2018 to 2019, growing by $247,864,000 or 15.5% (from $1,596,896,000 to $1,744,760,000). The smallest increase was 0.6%, from $1,786,443,000 in 2020 to $1,972,065,000 in 2021.

Loss Ratios for Commercial Auto

The loss ratio data for Commercial Auto Total in Pennsylvania presents noteworthy patterns across the years. From 2015 to 2018, the loss ratios experienced a steady increase, going from 57.97% in 2015 to 63.01% in 2018. This upward trend was briefly interrupted in 2019 when the loss ratio slightly dropped to 61.62%.

A more significant decrease occurred in 2020, with the loss ratio falling to 55.54%. However, this decline was short-lived, as the loss ratio rose marginally to 55.7% in 2021. The most recent year, 2022, demonstrates a substantial increase in the loss ratio, reaching 62.81%.

Direct and Earned Premiums for Aircraft

The data shows that direct premiums written and earned for aircraft insurance in Pennsylvania increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $31,414,000 in 2015. The highest amount was $60,111,000 in 2022. This represents an increase of over 91% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022, with the exception of 2018 which saw a slight decrease from $32,918,000 in 2017 to $32,791,000 in 2018. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $10,671,000 or 21.4% (from $49,940,000 to $60,111,000).

The direct premiums earned followed a similar trend, with the lowest amount being $31,823,000 in 2015 and the highest being $55,997,000 in 2022. This is an increase of over 76% over the period. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022 at $7,179,000 or 14.9% (from $48,318,000 to $55,997,000).

Loss Ratios for Aircraft

The loss ratio data for Aircraft business in Pennsylvania indicates considerable variability between 2015 and 2022. The lowest loss ratio recorded was 13.95% in 2017, while the peak loss ratio of 81.36% was observed in 2018. Post-2018, the loss ratio dipped to 22.96% in 2020, indicating a substantial decrease.

However, following this drop, there was a slight recovery in 2021, with loss ratios climbing up to 39.92%. Despite this increase, the loss ratio reduced again to 28.52% in 2022. The years 2015 and 2016 showed moderate loss ratios of 29.01% and 46.92% respectively.

The data suggests an erratic trend from 2015 to 2022, with significant fluctuations in loss ratio percentages. The most remarkable change is evident between 2017 and 2018, where the loss ratio soared from 13.95% to a substantial 81.36%.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in Pennsylvania increased overall from 2015 to 2022, with some fluctuations. The lowest amount of direct premiums written was $51,450,000 in 2015. This increased to $57,361,000 in 2022, representing an overall increase of 11.5% over the 8 year period.

The direct premiums written increased each year from 2015 to 2019. The largest year-over-year increase was from 2021 to 2022, when direct premiums written grew by $6,154,000 or 11.2% (from $55,207,000 to $57,361,000). The lowest amount of direct premiums earned was $51,543,000 in 2015. This increased to $55,918,000 in 2022, representing an overall increase of 8.5%.

The direct premiums earned followed a similar pattern to the direct premiums written, with steady increases each year from 2015 to 2019. The largest year-over-year increase was from 2020 to 2021, when direct premiums earned grew by $2,442,000 or 4.6% (from $53,131,000 to $55,573,000).

Loss Ratios for Fidelity

Analyzing the fidelity line of business loss ratio data for Pennsylvania from 2015 to 2022 reveals notable patterns and fluctuations. The loss ratios demonstrate considerable variability, with a peak of 74.48% in 2017 and a trough of 18.08% in 2021. The data from 2015 and 2016 show a decrease in loss ratios from 43.49% to 28.77%. However, a significant surge is seen in 2017, reaching a seven-year high.

Unfortunately, the data for 2018 is unavailable. In the subsequent years, the loss ratios decline, falling to 20.75% in 2019 and then rising slightly to 40.37% in 2020. The years 2021 and 2022 exhibit the lowest loss ratios in the series, with 18.08% and 22.62% respectively, indicating a relatively steady downward trend in recent years.

Direct and Earned Premiums for Surety

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

The lowest amount of direct premiums written was $227,544,000 in 2015. This steadily increased each year, with the exception of a dip from $248,850,000 in 2019 to $240,160,000 in 2020. The highest direct premiums written was $296,698,000 in 2022, representing an increase of 30.5% from 2015. The direct premiums earned followed a similar trend, starting at $224,064,000 in 2015 and reaching $275,379,000 in 2022, a 23% increase.

The largest year-over-year increase in direct premiums written was from 2021 to 2022 at 10.9% (from $267,565,000 to $296,698,000). The smallest was the decrease from 2019 to 2020 of 3.5%.

Loss Ratios for Surety

The loss ratio data for Surety in Pennsylvania indicates varying trends over the years. Most notably, the loss ratios demonstrate considerable fluctuation, spanning from a minimum of 1.6% in 2017 to a peak of 33.5% in 2019.

In the more recent years, 2021 and 2022, the loss ratios were markedly different at 0.36% and 25.63% respectively, indicating a significant rise from 2021 to 2022. There was a substantial reduction in the loss ratio from 19.08% in 2018 to 1.6% in 2017, followed by a sharp increase to 33.5% in 2019. However, the subsequent year, 2020, saw a slight decrease to 30.63%.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in Pennsylvania fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $63214000 in 2022, while the highest was $83516000 in 2021. This represents an increase of 32% from the lowest to the highest year.

Direct premiums written increased each year from 2015 to 2019, going from $76073000 to $81318000, a 7% increase over the 5 year period. The largest year-over-year increase was 12% between 2016 and 2017, when direct premiums written grew from $79164000 to $81617000. The smallest increase was only 1% between 2018 and 2019. After peaking in 2019, direct premiums written fell in 2020 to $68627000, before rebounding to the highest level of $83516000 in 2021. They then dropped sharply by 24% down to $63214000 in 2022.

Direct premiums earned generally followed a similar pattern to direct premiums written over the 2015-2022 period, but lagged behind somewhat. The lowest direct premiums earned was $62372000 in 2015 versus the peak of $77233000 in 2019. This represents a 24% increase from lowest to highest. The largest single year jump was 11% between 2016 and 2017.

Loss Ratios for Warranty

The data on loss ratio percentages for the Warranty line of business in Pennsylvania shows interesting patterns over the years. Between 2015 and 2018, there was an upward trend, with the loss ratio percentage progressively increasing from 51.56% to 60.25%. The highest loss ratio percentage was witnessed in 2019, at 61.06%. However, a slight decrease was observed in 2020, with the percentage falling to 54.63%. This decrease continued into 2021, with the loss ratio percentage further declining to 54.1%.