Market Trends

Direct and Earned Premiums for Fire

The data shows that direct premiums written and earned for fire insurance in South Carolina increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $213,072,000 in 2015. This increased each year, with the exception of 2016 which saw a slight decrease to $213,122,000.

The highest amount of direct premiums written was $450,124,000 in 2022, representing an increase of over 111% from 2015. Similarly, direct premiums earned started at $215,792,000 in 2015 and increased each year to reach $429,200,000 in 2022, a 99% increase.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $57,129,000 or 16.6% (from $344,243,000 to $401,372,000). The smallest year-over-year increase was 0.2% from 2015 to 2016. For direct premiums earned, the largest increase was 13.4% from 2021 to 2022 and the smallest was 0.4% from 2016 to 2017.

Loss Ratios for Fire

The loss ratio data for Fire insurance in South Carolina exhibits notable trends and fluctuations between 2015 and 2022.

In this period, the loss ratios show considerable variability, ranging from a low of 25.79% in 2021 to a high of 64.36% in 2018. There is no consistent pattern observed across these years; however, certain trends can be identified. The loss ratio increased substantially from 38.32% in 2015 to 63.41% in 2016, followed by a decline to 45.76% in 2017.

A similar pattern is observed between 2018 and 2019, with an increase to 64.36% and a subsequent decrease to 41.73%. In more recent years, the loss ratios demonstrate a downward trend, dropping to 25.79% in 2021, marking the lowest ratio in the given period. However, this trend is disrupted by a moderate rise to 40.99% 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 South Carolina increased overall from 2015 to 2022. The lowest amount of direct premiums written was $167,248,000 in 2017, while the highest was $304,680,000 in 2022. This represents an increase of over 80% over the 8 year period.

Direct premiums written increased each year from 2017 to 2022, with the exception of 2016 which saw a decrease from $182,313,000 in 2015 to $168,436,000 in 2016. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $16,671,000 or 6.4% (from $261,190,000 to $277,970,000).

Similarly, direct premiums earned also increased overall between 2015 and 2022. The lowest amount was $166,239,000 in 2017 and the highest was $285,938,000 in 2022, representing a growth of over 70% during this timeframe.

As with direct premiums written, 2016 saw a decrease in direct premiums earned compared to 2015, going from $184,216,000 down to $172,947,000. The biggest year-over-year jump for direct premiums earned was also from 2020 to 2021, increasing by $14,260,000 or 5.9%.

Loss Ratios for Allied Lines

The loss ratio data for Allied Lines in South Carolina presents some interesting patterns and variations over the years.

The most striking observation is the substantial increase in loss ratio from 54.89% in 2015 to a peak of 121.41% in 2016, indicating a challenging year for insurers in this market. Post-2016, the loss ratios show a general downward trend, with the lowest point being 14.47% in 2021, a significant decrease from the 82.26% observed in 2020.

The years 2017 and 2018 exhibit relatively stable loss ratios, with 66.47% and 62.68%, respectively, suggesting a more balanced period for the industry. However, the years 2019 and 2022 show contrasting figures, with 2019 having a notably low loss ratio of 26.04% and 2022 displaying a moderate increase to 43.64%.

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 South Carolina increased substantially from 2015 to 2022.

The lowest amount of direct premiums written was $62,619,000 in 2015. This steadily increased each year, with the highest amount being $127,124,000 in 2022. This represents an overall increase of 103% in direct premiums written over the 8 year period. Similarly, direct premiums earned started at $67,316,000 in 2015 and reached $142,440,000 in 2022, an increase of 111% over the time period.

The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $30,124,000 or 33.5% (from $90,005,000 to $120,129,000). The smallest year-over-year increase was just 2.8%, from $66,957,000 in 2016 to $68,828,000 in 2017.

Loss Ratios for Multi-Peril Crop

The Federal Multi-Peril Crop loss ratio data for South Carolina reveals some intriguing trends over the years 2015 to 2022. The loss ratios have exhibited significant fluctuations, peaking at 199.67% in 2015, and dipping to a low of 41.34% in 2021.

The years 2016 to 2020 were marked by a general downward trend, with loss ratios decreasing from 130.53% in 2016 to 89.89% in 2017, followed by a slight increase to 97.11% in 2018, and then a decrease to 93.08% in 2019. A sharp increase was observed in 2020 when loss ratios jumped to 147.27%.

However, 2021 witnessed a substantial drop to 41.34%, the lowest in this period. By 2022, the loss ratio rebounded to 98.84%, demonstrating a return to the levels observed in 2018 and 2019. This data shows a pattern of fluctuation, with periods of decrease followed by sharp increase, and then a significant drop in 2021.

Direct and Earned Premiums for Federal Flood

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

The lowest amount of direct premiums written was $93,409,000 in 2022. The highest amount was $124,476,000 in 2020.

Direct premiums written increased each year from 2015 to 2020, before decreasing in 2021 and 2022. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $5,043,000 or 4.2% (from $119,433,000 to $124,476,000). The largest year-over-year decrease was from 2021 to 2022, when direct premiums written declined by $9,008,000 or 9.2% (from $98,417,000 to $93,409,000).

For direct premiums earned, the lowest amount was $96,406,000 in 2022 and the highest was $122,829,000 in 2020. The trends in direct premiums earned generally followed those of direct premiums written, with increases from 2015-2020 and then decreases in 2021-2022. The largest year-over-year increase in direct premiums earned was also from 2019 to 2020, when it grew by $5,702,000 or 4.9%

Loss Ratios for Federal Flood

The Federal Flood loss ratio in South Carolina reveals considerable fluctuations between 2015 and 2022. The loss ratios experienced a peak in 2016 at 130.93%, significantly higher than the 89.43% observed in the previous year.

However, there was a sharp decline to 55.98% in 2017, followed by a slight increase to 62.52% in 2018. The most dramatic drop was in 2019, with the loss ratio plummeting to a low of 3.62%. This was followed by modest increases with 10.56% in 2020, 14.77% in 2021, and 14.18% in 2022.

Direct and Earned Premiums for Private Crop

The data shows that direct premiums written and earned for private crop insurance in South Carolina fluctuated between 2015 and 2022. The lowest amount of direct premiums written and earned was $68,000 in 2017.

The highest amount was $381,000 in 2019 for both direct premiums written and earned. Looking at the year-over-year changes, direct premiums written and earned decreased each year from 2015 to 2017, going from $233,000 in 2015 down to $68,000 in 2017 - a drop of 71%.

After hitting this low point in 2017, direct premiums then increased each year from 2018 to 2022. The biggest year-over-year increase was from 2018 to 2019, when direct premiums jumped 344% from $85,000 to $381,000.

Loss Ratios for Private Crop

Private Crop insurance in South Carolina has experienced significant shifts in loss ratios over the past eight years. Loss ratio data ranges from a low of 14.18% in 2022 to an astounding high of 251.79% in 2018.

From 2015, the loss ratio started at 56.12% and then revealed a notable upsurge in 2017 to 123.74%. The most significant spike occurred in 2018, more than doubling the previous year's percentage.

A sharp decline is then observed in 2019 to 99.87%, almost a 60% drop from 2018. Loss ratios were not available for 2016 and 2020. However, in 2021, the numbers stabilized slightly to 95.93%, before drastically dropping to 14.18% in 2022.

Direct and Earned Premiums for Private Flood

The data shows that direct premiums written and earned for private flood insurance in South Carolina increased steadily from 2016 to 2022. The lowest amount of direct premiums written was $10,633,000 in 2016. This increased each year, with the highest amount being $28,939,000 in 2022. This represents an increase of over 170% over the 7 year period.

Similarly, the lowest amount of direct premiums earned was $6,829,000 in 2016. This also increased each year, with the highest amount being $27,259,000 in 2022. This is an even larger increase of nearly 300% over the period. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $5,694,000 or 30.4% (from $18,736,000 to $24,430,000).

The smallest year-over-year increase was 6.7%, from $14,681,000 in 2019 to $15,673,000 in 2020. For direct premiums earned, the largest increase was also from 2020 to 2021, growing by $4,290,000 or 25.2% (from $17,010,000 to $21,200,000). The smallest increase was 4.6%, from $12,517,000 in 2018 to $13,095,000 in 2019.

Loss Ratios for Private Flood

The loss ratio data for Private Flood insurance in South Carolina exhibits significant fluctuations between 2016 and 2022. In 2016, the loss ratio reached a high of 114.38%, which drastically reduced to 7.33% in 2017.

The most striking change occurred in 2018, with a loss ratio of 348.35%, the highest in the given period. Following 2018's peak, the loss ratios in 2019 and 2020 were notably lower, at 8.77% and 13.8%, respectively.

In the last two years, 2021 and 2022, there has been a slight increase in the loss ratio, with 5.75% in 2021 and 21.57% in 2022. The data demonstrates considerable volatility, with the largest year-to-year change happening between 2017 and 2018 (an increase of 341.02 percentage points).

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 South Carolina increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $13,152,000 in 2015. The highest amount was $21,268,000 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 2019 to 2020, when it grew by $3,984,000 or 23.9% (from $16,694,000 to $18,678,000). The smallest year-over-year increase was 2.1%, from $13,437,000 in 2016 to $13,699,000 in 2017. The direct premiums earned followed a similar upward trend as the direct premiums written, increasing each year from 2015 to 2022.

The lowest direct premiums earned was $12,582,000 in 2015, while the highest was $20,243,000 in 2022. This represents a growth of over 60% as well. The largest year-over-year increase in direct premiums earned was also from 2019 to 2020, growing by $2,412,000 or 14.8% (from $16,308,000 to $17,720,000). The smallest increase was 0.9% from 2016 to 2017.

Loss Ratios for Farmowners Multiple Peril

The loss ratio data for Farmowners Multiple Peril insurance in South Carolina demonstrates considerable fluctuations across the years. In 2015, the loss ratio stood at 31.76%, followed by a significant leap to 84.63% in 2016.

The subsequent year experienced a drop to 47.68%, only to increase again to 61.20% in 2018. In 2019, the loss ratio dipped to 37.55% before escalating steeply to 90.75% in 2020, representing the highest point during the observed period. Afterward, the loss ratio fell to 42.12% in 2021, and climbed back to 71.76% in 2022.

These numbers display considerable variability in the loss ratios for Farmowners Multiple Peril insurance in South Carolina, ranging from the lowest point of 31.76% in 2015 to the highest of 90.75% in 2020.

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 South Carolina increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $1,601,721,000 in 2015. The highest was $2,401,993,000 in 2022. This represents an increase of 50% 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 $313,767,000 or 14.9% (from $2,108,226,000 to $2,401,993,000). The smallest year-over-year increase was 2.9%, from $1,601,721,000 in 2015 to $1,641,208,000 in 2016.

The trends for direct premiums earned are similar. The lowest amount was $1,568,523,000 in 2015 and the highest was $2,185,809,000 in 2022, a 39% increase. The largest year-over-year increase was 14.5% between 2021 and 2022 (from $2,001,436,000 to $2,185,809,000). The smallest was 2.8% between 2015 and 2016.

Loss Ratios for Homeowners Multiple Peril

The loss ratio data for Homeowners Multiple Peril insurance in South Carolina displays a fluctuating pattern between 2015 and 2022. In 2015, the loss ratio was 38.35%, which then increased to 54.92% in 2016.

This upward trend reversed in 2017 with a drop to 43.36%, followed by a more stable period from 2017 to 2019, where the loss ratios fluctuated between 39.14% and 41.77%. Interestingly, 2020 saw another significant increase to 54.36%, similar to the 2016 value. However, this was followed by a decrease to 40.24% in 2021, marking the lowest point since 2015.

The most recent year, 2022, has the highest loss ratio of the entire period, at 55.83%. Throughout the years, the range of loss ratios spans from the lowest point of 38.35% in 2015 to the highest of 55.83% in 2022, showcasing a considerable degree of variability.

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 South Carolina increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $471,680,000 in 2015. This increased each year, with the highest amount being $716,676,000 in 2022. This represents an increase of over 52% from 2015 to 2022. Similarly, the lowest amount of direct premiums earned was $469,791,000 in 2015, increasing to $674,694,000 in 2022. This is a 43% increase over the period.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $99,685,000 or 16%. The smallest year-over-year increase was 2.1%, from $479,677,000 in 2016 to $492,756,000 in 2017.

Loss Ratios for Commercial Multiple Peril

The loss ratio percentage data for Commercial Multiple Peril in South Carolina reveals interesting patterns over the years. The data shows considerable fluctuation, with the peak at 74.46% in 2017 and a trough of 32.39% in 2018.

The years 2015 and 2019 both manifest a similar loss ratio percentage of 52.67% and 53.08% respectively, indicating a temporary stabilization. However, the year 2016 saw a hike to 68.22%, and a subsequent fall was observed in 2020, at 59.06%. A decrease was noted in 2021, with the loss ratio falling to 45.35%, followed by a rise to 58.29% in 2022.

Direct and Earned Premiums for Mortgage Guaranty

The data shows that direct premiums written and direct premiums earned for mortgage guaranty insurance in South Carolina fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $79868000 in 2015. This increased to a high of $95024000 in 2021 before decreasing slightly to $91463000 in 2022.

Direct premiums earned followed a similar pattern, starting at $74725000 in 2015, reaching a peak of $102553000 in 2020, and then decreasing to $95212000 in 2022. The largest year-over-year increase in direct premiums written was from 2018 to 2019, when it grew by $80703000 or 9.4% (from $85944000 to $91647000).

The smallest year-over-year increase was just 0.6% from $95024000 in 2021 to $91463000 in 2022. In most years, direct premiums earned were higher than direct premiums written for the same year. The biggest difference was in 2020, when premiums earned were $102553000 compared to premiums written of $95080000 - a difference of $7473000 or 7.9%.

Loss Ratios for Mortgage Guaranty

The loss ratio data for Mortgage Guaranty in South Carolina over the years 2015 to 2022 displays fascinating variations. The loss ratios show substantial inconsistency, with a noticeable low of 2.96% in 2019 and a peak of 28.08% in 2020.

The trend from 2015 to 2019 demonstrates a consistent decrease in loss ratios, dropping from 26.62% in 2015 to its lowest point in 2019. An abrupt surge is observed in 2020, juxtaposing the previously declining trend. However, the following years, 2021 and 2022, show a swift reduction to 6.07%, indicating a return to the downward trajectory.

Direct and Earned Premiums for Ocean Marine

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

The lowest amount of direct premiums written was $28,162,000 in 2015. The highest amount was $52,050,000 in 2022. This represents an increase of over 85% 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 2019 to 2020, when it grew by $30,099,000 or 69% (from $43,582,000 to $73,681,000). The smallest year-over-year increase was 6.1%, from $28,162,000 in 2015 to $29,864,000 in 2016. 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 $27,077,000 in 2015. The highest amount was $48,383,000 in 2022. This represents an increase of over 79% over the period. The largest year-over-year increase in direct premiums earned was also from 2019 to 2020, when it grew by $32,581,000 or 83.3% (from $39,109,000 to $71,690,000). The smallest year-over-year increase was 7.3%, from $27,077,000 in 2015 to $29,065,000 in 2016.

Loss Ratios for Ocean Marine

The loss ratio percentage for Ocean Marine in South Carolina displays interesting variations over the years. The data spans from 2015 to 2022, with the highest loss ratio of 74.03% in 2016 and the lowest of 28.13% in 2022. The figures fluctuate, with a significant leap between 2015's 36.53% and 2016's 74.03%.

The loss ratio then drops to 64.67% in 2017, followed by a steady decline to 55.82% in 2018 and a slight increase to 58.41% in 2019.

This upward shift is short-lived, as the loss ratio falls back to 49.71% in 2020 and further to 44.97% in 2021. The most dramatic decrease is observed in the last year, 2022, where it plummets to 28.13%.

Direct and Earned Premiums for Inland Marine

The data shows that direct premiums written and direct premiums earned for inland marine insurance in South Carolina increased steadily from 2015 to 2022. The lowest amount of direct premiums written was $291,455,000 in 2015. The highest amount was $534,468,000 in 2022. This represents an increase of over 83% 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 $60,318,000 or 12.7% (from $474,150,000 to $534,468,000). The smallest year-over-year increase was 6.7%, from $393,913,000 in 2018 to $404,734,000 in 2019.

Similarly, direct premiums earned also increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $61,637,000 or 13.7% (from $449,473,000 to $511,310,000). The smallest increase was 6.8%, from $374,315,000 in 2018 to $399,715,000 in 2019.

Loss Ratios for Inland Marine

The Inland Marine loss ratio percentage in South Carolina has notably varied over the years, with a peak of 66.11% in 2015 and a trough of 41.09% in 2017.

A marked decrease is observed from 2015 to 2017, with a reduction of nearly 25%. However, this downward trend reversed in 2018, reaching 43.47%.

The loss ratio then slightly increased to 44.5% in 2019, followed by a more substantial rise to 50.53% in 2020. The subsequent years, 2021 and 2022, witnessed a decline, with loss ratios of 41.82% and 42.51% respectively.

Direct and Earned Premiums for Financial Guaranty

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

The lowest amount of direct premiums written was $435,000 in 2017. The highest amount was $5,105,000 in 2022. Direct premiums written decreased from $1,030,000 in 2015 to $435,000 in 2017, representing a 58% decrease over that period. After hitting this low point in 2017, direct premiums written then increased each year from 2018 to 2022.

The largest year-over-year increase was from 2020 to 2021, when direct premiums written grew by $49,000 or 9.7% (from $505,000 to $655,000). Meanwhile, direct premiums earned followed a different trajectory, peaking at $14,747,000 in 2015 before decreasing each year until 2019.

The largest year-over-year decrease for direct premiums earned was from 2016 to 2017, dropping by 42% from $13,399,000 to $7,718,000. After hitting a low of $4,193,000 in 2019, direct premiums earned then increased in 2020 and 2021 before dropping again in 2022 to $1,593,000.

Loss Ratios for Financial Guaranty

The loss ratio data for Financial Guaranty in South Carolina displays notable fluctuations and trends across the examined years. A striking peak in loss ratios is observed in 2019, reaching an astounding 356.21%. This value significantly deviates from the other years, especially when compared to the 104.86% recorded in 2015.

Data for 2016, 2017, and 2021 are unavailable, which might have provided valuable insights into the trajectory of loss ratios. However, 2020 presents a considerable drop to 51.91%, showcasing a sharp decline from the previous peak. This decrease is followed by a loss ratio of 0.0% in 2022, displaying a complete absence of losses.

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 South Carolina fluctuated between 2015 and 2022.

The lowest amount of direct premiums written was $64,584,000 in 2016, while the highest was $94,687,000 in 2021. This represents an increase of over 46% from the low in 2016 to the high in 2021. Direct premiums written increased each year from 2016 to 2021, with the exception of 2018 which saw a slight decrease from $73,062,000 in 2017 to $68,952,000 in 2018. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $35,516,000 or 44.4% (from $79,955,000 to $83,471,000).

For direct premiums earned, the lowest amount was $64,432,000 in 2016 and the highest was $92,956,000 in 2021. This was an increase of over 44% between those years. Direct premiums earned followed a similar pattern to direct premiums written, with steady increases each year except for a slight dip from 2017 to 2018. The biggest year-over-year jump in direct premiums earned was also from 2019 to 2020, increasing by $27,804,000 or 36.3% (from $76,639,000 to $79,443,000).

Loss Ratios for Medical Professional Liability

Examining the loss ratio data for Medical Professional Liability in South Carolina over the years reveals some notable patterns. The loss ratios fluctuate, with a low of 60.01% in 2019 and a peak of 97.96% in 2021. The years 2015 to 2018 saw relatively stable loss ratios, hovering around 76%.

However, a significant drop occurred in 2019, followed by a sharp increase in 2020 to 78.51%. The most dramatic increase occurred in 2021, with the loss ratio skyrocketing to 97.96%. This surge was short-lived, as the ratio dropped to 56.1% in 2022.

Direct and Earned Premiums for Earthquake

The data shows that direct premiums written and direct premiums earned for earthquake insurance in South Carolina increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $40,740,000 in 2015. The highest amount was $61,840,000 in 2022. This represents an increase of over 50% 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 $8,629,000 or 16.2% (from $53,211,000 to $61,840,000). The smallest year-over-year increase was 2.9%, from $46,372,000 in 2018 to $47,127,000 in 2019.

The direct premiums earned followed a similar trend, with the lowest amount being $38,691,000 in 2015 and the highest being $57,274,000 in 2022. This was an increase of over 48% over the period. The largest year-over-year increase in direct premiums earned was from 2021 to 2022 at 10.7% (from $51,711,000 to $57,274,000). The smallest was a 2.3% increase from 2016 to 2017.

Loss Ratios for Earthquake

The Earthquake Loss Ratio Percentages in South Carolina reveal interesting patterns over the given years. A notable feature is the lack of data for 2015, 2016, 2020, and 2021, denoted by asterisks. When observations are available, the loss ratio percentages reveal considerable differences.

They range from a minimum of 1.63% in 2018 to a maximum of 4.28% in 2019, showcasing significant variability. The year 2017 marked the first available data point with a loss ratio of 1.76%, which slightly decreased to 1.63% in 2018.

A substantial upsurge to 4.28% was observed in 2019, the highest point within the dataset. A data gap exists for 2020 and 2021, followed by a loss ratio of 2.2% in 2022, showing a decrease from the peak in 2019.

Direct and Earned Premiums for Workers Compensation

The data shows that direct premiums written and direct premiums earned for workers compensation insurance in South Carolina fluctuated over the 2015-2022 period. The lowest amount of direct premiums written was $809,295,000 in 2015.

This increased to a peak of $926,246,000 in 2022, representing a 14.5% increase over the period. Direct premiums earned followed a similar pattern to direct premiums written. The lowest amount was $792,025,000 in 2015, increasing to a peak of $922,837,000 in 2022, representing a 16.5% increase.

The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $52,148,000 or 10.9% (from $847,098,000 to $926,246,000). The smallest year-over-year increase was just 0.2% from 2018 to 2019 (from $908,419,000 to $879,450,000).

Loss Ratios for Workers Compensation

The Workers Compensation loss ratio data for South Carolina presents interesting patterns and fluctuations over the years. From a high of 68.66% in 2015, the loss ratios experienced a downward trend, reaching a low of 43.53% in 2018. This decline was followed by an upward trend, with 51.65% in 2019 and 49.07% in 2020.

In the most recent years, 2021 and 2022, the loss ratios remained relatively stable at 58.84% and 58.54%, respectively. The data reveals a significant decrease in loss ratios between 2015 and 2018, amounting to a 25.13% reduction. However, the subsequent increase from 2018 to 2021 resulted in a 15.31% rise.

Direct and Earned Premiums for Product Liability

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

The lowest amount of direct premiums written was $42,802,000 in 2015. The highest amount was $68,404,000 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 2021 to 2022, when it grew by $9,014,000 or 15.2% (from $59,390,000 to $68,404,000). The smallest year-over-year increase was 0.3%, from $49,000,000 in 2018 to $49,474,000 in 2019.

The direct premiums earned followed a similar trend, increasing steadily from $40,199,000 in 2015 to $66,025,000 in 2022. The largest year-over-year increase in direct premiums earned was also from 2021 to 2022, when it grew by $7,751,000 or 13.3% (from $58,274,000 to $66,025,000). The smallest increase was 1.0%, from $48,037,000 in 2018 to $48,859,000 in 2019.

Loss Ratios for Product Liability

The loss ratio data for Products Liability in South Carolina shows remarkable variations between 2015 and 2022. In the earlier years, loss ratios remained relatively high, with 69.46% in 2015, 83.21% in 2016, and 88.98% in 2017.

A significant spike occurred in 2018, with the loss ratio reaching its peak at 129.99%. Following this peak, the loss ratio dropped sharply to 87.28% in 2019, then further declined to 41.04% in 2020, marking the lowest value in the given period.

However, the trend reversed in 2021, as the loss ratio surged to 101.79%, before moderating to 61.01% in 2022. Throughout the specified years, the loss ratios demonstrate considerable variability, with the highest value of 129.99% in 2018 and the lowest at 41.04% in 2020.

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 South Carolina increased steadily from 2015 to 2022.

The lowest amount of direct premiums written was $3,275,078,000 in 2015. The highest amount was $5,220,562,000 in 2022. This represents an increase of over 59% over the 8 year period.

The direct premiums written increased each year from 2015 to 2022. The largest year-over-year increase in direct premiums written was from 2021 to 2022, when it grew by $6,991,119,000 or 14.2% (from $49,214,430,000 to $52,205,620,000). The smallest year-over-year increase was 6.6%, from $43,588,290,000 in 2018 to $45,260,990,000 in 2019. T

he trends for direct premiums earned are similar, with the lowest amount being $3,193,604,000 in 2015 and the highest being $5,089,987,000 in 2022. This is an increase of 59.4% over the period. The largest year-over-year increase in direct premiums earned was 13.8% between 2021 and 2022 (from $4,834,818,000 to $5,089,987,000). The smallest was 4.5% between 2020 and 2021.

Loss Ratios for Private Passenger Auto

The loss ratio data for Private Passenger Auto Total insurance in South Carolina presents several notable findings over the years. The highest loss ratio is observed in 2022 at 81.36%, while the lowest occurs in 2020 with 60.03%.

This suggests significant variability in the market during the analyzed period. From 2015 to 2018, the data reveals a consistent downward trend, with loss ratios decreasing from 73.47% in 2015 to 64.47% in 2018. A slight increase is observed in 2019, with the loss ratio percentage reaching 64.68%.

However, the downward trajectory continues in 2020, with the loss ratio dropping to its lowest point at 60.03%. In contrast, the years 2021 and 2022 exhibit an upward trend in loss ratios, with 2021 showing an increase to 68.07% and 2022 reaching the highest point of the analyzed period at 81.36%.

Direct and Earned Premiums for Commercial Auto

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

The lowest amount of direct premiums written was $377,750,000 in 2015. This increased each year, reaching a high of $804,198,000 in 2022 - more than doubling over the 8 year period.

The direct premiums earned followed a similar trajectory, starting at $364,221,000 in 2015 and ending at $771,805,000 in 2022. This represents a 112% increase. The largest year-over-year increase in direct premiums written was from 2020 to 2021, when it grew by $124,603,000 or 20.8% (from $600,260,000 to $724,863,000).

The smallest increase was 6.9% between 2015 and 2016. For direct premiums earned, the biggest jump was also from 2020 to 2021, increasing by $94,507,000 or 16.4% (from $577,763,000 to $672,970,000). The smallest increase was 7.5% from 2016 to 2017.

Loss Ratios for Commercial Auto

The Commercial Auto Total loss ratio data for South Carolina displays a degree of variability, as it oscillates between a peak of 75.92% in 2017 and a trough of 67.27% in 2019.

It is noteworthy that, after achieving its highest point in 2017, the loss ratio experiences a gradual decline over the next two years, hitting its lowest in 2019. Following this, there was a mild upswing in 2020 to 71.78%, showing a recuperation of lost ground.

However, in the subsequent years of 2021 and 2022, the loss ratios exhibit a diminishing pattern, standing at 69.45% and 68.24% respectively. Despite these fluctuations, the loss ratios have remained relatively high throughout the years, maintaining above 65% since 2015.

Direct and Earned Premiums for Aircraft

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

The lowest amount of direct premiums written was $11,055,000 in 2015. This increased each year, with the exception of a slight dip from $12,315,000 in 2016 to $11,540,000 in 2017. The highest direct premiums written was $25,192,000 in 2022, representing an overall increase of 128% from 2015.

Similarly, direct premiums earned started at $10,800,000 in 2015 and increased each year to reach $23,819,000 in 2022. This was an overall increase of 121% over the period. The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $3,865,000 or 24.9% (from $15,539,000 to $19,404,000).

The smallest year-over-year increase was just 2.3%, from $11,540,000 in 2017 to $11,815,000 in 2018. For direct premiums earned, the biggest jump was also from 2019 to 2020, increasing by $3,578,000 or 25.1% (from $14,240,000 to $17,418,000). The smallest increase was 1.8%, from $10,800,000 in 2015 to $11,656,000 in 2016.

Loss Ratios for Aircraft

The loss ratio data for Aircraft coverage in South Carolina demonstrates notable shifts and trends throughout the years 2015 to 2022.

One striking observation is the substantial loss ratio of 127.47% in 2015, followed by a considerable drop to 32.59% in 2016, which indicates a major change in the loss experience during this period. From 2016 to 2018, there was a general trend of decreasing loss ratios, reaching a low of 29.58% in 2018.

However, this trend reversed in 2019 with a significant spike to 81.77%, marking another noteworthy fluctuation in the data. The subsequent years, 2020 to 2022, displayed a relatively stable pattern, with loss ratios ranging from 40.35% to 54.18%.

Direct and Earned Premiums for Fidelity

The data shows that direct premiums written and direct premiums earned for fidelity insurance in South Carolina fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $9,996,000 in 2018, while the highest was $12,474,000 in 2022.

Direct premiums written increased each year from 2018 to 2022, with the largest year-over-year increase occurring between 2020 and 2021, when direct premiums written grew by $1,963,000 or 18.7% (from $10,487,000 to $11,450,000).

Similarly, the lowest amount of direct premiums earned was $10,109,000 in 2017, while the highest was $11,729,000 in 2022. Direct premiums earned generally increased over the period, with the exception of a dip from $10,425,000 in 2015 to $10,109,000 in 2017. The largest year-over-year increase in direct premiums earned was between 2021 and 2022, when it grew by $1,620,000 or 14.6% (from $11,109,000 to $11,729,000).

Loss Ratios for Fidelity

The loss ratio data for Fidelity in South Carolina demonstrates notable trends and fluctuations over the years. From 2015 to 2016, the loss ratios increased significantly, rising from 64.37% to 78.15%.

However, the following year experienced a sharp decline, with 2017's loss ratio dropping to 47.14%. A gradual downward trend was observed from 2017 to 2019, with the loss ratios decreasing to 33.52% in 2018 and reaching a low of 32.00% in 2019.

In 2020, the loss ratio experienced a slight uptick to 40.61% but continued to decline in the subsequent years. The years 2021 and 2022 displayed the lowest loss ratios, with 19.35% and 14.07%, respectively.

Direct and Earned Premiums for Surety

The data shows that direct premiums written and direct premiums earned for surety insurance in South Carolina fluctuated between 2015 and 2022. The lowest amount of direct premiums written was $74922000 in 2015. This increased to $84735000 in 2016, representing a growth of 13.1%.

Direct premiums written continued to increase in 2017 to $86264000 before dropping slightly in 2018 to $83083000. In 2019, direct premiums written rose again to $86855000, the second highest over the period.

There was a large decrease of 7.6% in 2020 as direct premiums written fell to $80223000. However, in 2021 and 2022 direct premiums written increased significantly, reaching the period high of $107829000 in 2022. This was a 34.4% increase from 2021 and a 43.9% increase from the 2015 low.

The direct premiums earned follow a similar trend but lag behind the direct premiums written, as expected. The lowest direct premiums earned was $70494000 in 2015, increasing to $98120000 by 2022. This represents a 39.3% increase. The largest single year-over-year growth was from 2020 to 2021 when direct premiums earned increased by 5.3% from $82043000 to $86342000.

Loss Ratios for Surety

The data for Surety loss ratios in South Carolina exhibits compelling trends over the years.

The loss ratio percentage reveals considerable fluctuation, with the lowest at 9.81% in 2015 and the highest at 25.65% in 2021. Between 2015 and 2016, there was a notable rise from 9.81% to 22.57%. However, 2017 saw a decline to 18.5%.

The loss ratio dropped further in 2018 to 11.73% but increased marginally in 2019 and 2020 to 14.33% and 14.38%, respectively. Interestingly, 2021 and 2022 witnessed significant increases to 25.65% and 25.01% respectively.

Direct and Earned Premiums for Warranty

The data shows that direct premiums written and direct premiums earned for warranty insurance in South Carolina increased overall from 2015 to 2022.

The lowest amount of direct premiums written was $7,225,000 in 2015. This steadily increased each year, with the exception of 2018 which saw a slight decrease to $7,159,000. The highest direct premiums written was $15,009,000 in 2021. This represents an increase of over 100% from 2015 to 2021.

Similarly, the lowest amount of direct premiums earned was $5,074,000 in 2015. This increased each year except for a dip in 2018 to $4,830,000. The highest direct premiums earned was $11,253,000 in 2021, representing an increase of over 120% from 2015.

The largest year-over-year increase in direct premiums written was from 2019 to 2020, when it grew by $1,981,000 or 17.9% (from $11,075,000 to $12,056,000). The smallest year-over-year increase was just 1.2% from 2016 to 2017 ($901,000 to $861,000).

Loss Ratios for Warranty

The loss ratio data for Warranty business in South Carolina unveils interesting patterns across the years. A clear upward trend is observed from 2015 to 2018, with the loss ratio rising from 45.37% in 2015 to an all-time high of 87.25% in 2018.

This sharp increase of 41.88 percentage points implies heightened claim payouts relative to earned premiums during this period. However, 2019 saw a substantial decline in the loss ratio to 68.59%, a drop of 18.66 percentage points from the previous year. The data indicates a short-lived recovery, as the loss ratio decreased further to 52.83% in 2020, closely aligning with the 52.52% recorded in 2017.

In 2021, the loss ratio reverted to its 2015 level at 45.37%, marking a 7.46 percentage point decrease compared to 2020. The most recent data for 2022 exhibits another upward shift, with the loss ratio reaching 61.55%.