Financial Guaranty Insurance, 2012-2021 (1)

($000)

Year Net premiums written (2) Annual percent change Combined ratio (3) Annual point change (4)
2012 $692,541 -28.5% 181.6 -37.4 pts.
2013 710,480 2.6 -3.4 -184.9
2014 488,482 -31.2 91.3 94.7
2015 418,792 -14.3 99.0 7.8
2016 364,531 -13.0 177.6 78.6
2017 420,844 15.4 318.7 141.1
2018 364,313 -13.4 130.5 -188.3
2019 391,160 7.4 181.6 51.1
2020 448,456 14.6 246.2 64.6
2021 372,543 -16.9 47.0 -199.2
(1) Based on Insurance Expense Exhibit (IEE) data.  Financial Guaranty Insurance Co. did not file an IEE in 2012. Several companies in 2013 reduced loss reserves as a result of strains from the financial crisis, creating a negative combined ratio.                 (2) After reinsurance transactions, excludes state funds.                 (3) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.                 (4) Calculated from unrounded numbers.                                  Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.