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Product Liability Insurance, 2015-2024

($000)
Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2015 $2,797,507 4.6% 130.6 -3.8 pts.
2016 2,422,376 -13.4 119.8 -10.8
2017 2,689,098 11.0 102.1 -17.8
2018 2,794,538 3.9 122.9 20.9
2019 3,014,579 7.9 108.6 -14.3
2020 3,237,200 7.4 88.2 -20.4
2021 3,559,032 9.9 100.5 12.3
2022 4,286,152 20.4 89.3 -11.2
2023 4,448,950 3.8 99.8 10.5
2024 4,532,902 1.9 108.1 8.3

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Product Liability Insurance, 2014-2023

($000)
Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2014 $2,674,183 -1.6% 134.4 -20.9 pts.
2015 2,796,761 4.6 130.6 -3.7
2016 2,422,721 -13.4 124.1 -6.5
2017 2,689,115 11.0 102.1 -22.0
2018 2,794,716 3.9 122.3 20.2
2019 3,017,099 8.0 108.5 -13.8
2020 3,239,063 7.4 88.2 -20.3
2021 3,561,024 9.9 100.5 12.2
2022 4,295,605 20.6 89.5 -11.0
2023 4,444,481 3.5 99.9 10.4

(1) After reinsurance transactions, excludes state funds.   
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Product Liability Insurance, 2013-2022

($000)
Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2013 $2,718,879 5.6% 155.3 52.6 pts.
2014 2,674,183 -1.6 134.4 -20.9
2015 2,796,761 4.6 130.6 -3.7
2016 2,422,721 -13.4 124.1 -6.5
2017 2,689,115 11.0 102.1 -22.0
2018 2,794,716 3.9 122.3 20.2
2019 3,017,099 8.0 108.5 -13.8
2020 3,239,063 7.3 88.2 -20.3
2021 3,561,020 9.9 100.5 12.2
2022 4,293,616 20.6 89.5 -11.0

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Product Liability Insurance, 2012-2021

($000)
Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2012 $2,575,225 11.0% 102.7 -57.3 pts.
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 134.4 -20.9
2015 2,796,761 4.6 130.6 -3.7
2016 2,422,721 -13.4 124.1 -6.5
2017 2,689,115 11.0 102.1 -22.0
2018 2,794,716 3.9 122.3 20.2
2019 3,017,099 8.0 108.5 -13.8
2020 3,239,063 7.3 88.2 -20.3
2021 3,353,494 3.5 101.1 12.8

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Product Liability Insurance, 2011-2020

($000)
Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2011 $2,320,540 13.2% 160.0 2.9 pts.
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 134.4 -20.9
2015 2,796,761 4.6 130.6 -3.7
2016 2,422,721 -13.4 124.1 -6.5
2017 2,689,115 11.0 102.1 -22.0
2018 2,794,716 3.9 122.3 20.2
2019 3,019,134 8.0 107.6 -14.7
2020 3,239,063 7.3 88.2 -19.4

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Product Liability Insurance, 2010-2019

($000)
Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2010 $2,050,619 -13.3% 157.1 33.1 pts.
2011 2,320,540 13.2 160.0 2.9
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 134.4 -20.9
2015 2,796,761 4.6 130.6 -3.7
2016 2,422,721 -13.4 124.1 -6.5
2017 2,689,115 11.0 102.1 -22.0
2018 2,794,716 3.9 122.3 20.2
2019 3,018,938 8.0 107.6 -14.7

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Products Liability Insurance, 2009-2018

($000)
Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2009 $2,365,681 -14.8% 124.0 (4)
2010 2,050,619 -13.3 157.1 33.1 pts.
2011 2,320,540 13.2 160.0 2.9
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 134.4 -20.9
2015 2,796,761 4.6 130.6 -3.7
2016 2,422,721 -13.4 124.1 -6.5
2017 2,689,115 11.0 102.1 -22.0
2018 2,790,125 3.8 122.4 20.3

(1) After reinsurance transactions, excludes state funds.  
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.
(4) Less than 0.1 point.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Product Liability Insurance, 2008-2017

($000)
Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2008 $2,777,587 -14.9% 124.0 24.2 pts.
2009 2,365,681 -14.8 124.0 (4)
2010 2,050,619 -13.3 157.1 33.1
2011 2,320,540 13.2 160.0 2.9
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 134.4 -20.9
2015 2,796,761 4.6 130.6 -3.7
2016 2,422,721 -13.4 124.1 -6.5
2017 2,689,115 11.0 102.1 -22.0

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.
(4) Less than 0.1 point.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Product Liability Insurance, 2007-2016

($000)
Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2007 $3,265,035 -9.8% 99.8 22.0 pts.
2008 2,777,587 -14.9 124.0 24.2
2009 2,365,681 -14.8 124.0 (4)
2010 2,050,619 -13.3 157.1 33.1
2011 2,320,540 13.2 160.0 2.9
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 138.4 -16.8
2015 2,796,761 4.6 130.6 -7.8
2016 2,422,619 -13.4 124.1 -6.5

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.
(4) Less than 0.1 point.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

Product Liability Insurance, 2006-2015

($000)
Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2006 $3,621,671 2.1% 77.8 -53.3 pts.
2007 3,265,035 -9.8 99.8 22.0
2008 2,777,587 -14.9 124.0 24.2
2009 2,365,681 -14.8 124.0 (4)
2010 2,050,619 -13.3 157.1 33.1
2011 2,320,540 13.2 160.0 2.9
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 138.4 -16.8
2015 2,796,758 4.6 130.6 -7.8

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.
(4) Less than 0.1 point.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

PRODUCT LIABILITY INSURANCE, 2005-2014

($000)
Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2005 $3,546,009 4.2% 131.1 -21.3 pts.
2006 3,621,671 2.1 77.8 -53.3
2007 3,265,035 -9.8 99.8 22.0
2008 2,777,587 -14.9 124.0 24.2
2009 2,365,681 -14.8 124.0 (4)
2010 2,050,619 -13.3 157.1 33.1
2011 2,320,540 13.2 160.0 2.9
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6
2014 2,674,183 -1.6 138.5 -16.8

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.
(4) Less than 0.1 point.

Source: SNL Financial LC.

PRODUCTS LIABILITY INSURANCE, 2004-2013

($000)
Year Net premiums
written (1)		 Annual percent
change		 Combined ratio (2) Annual point
change (3)
2004 $3,401,867 24.8% 152.4 -13.5 pts.
2005 3,546,009 4.2 131.1 -21.3
2006 3,621,671 2.1 77.8 -53.3
2007 3,265,035 -9.8 99.8 22.0
2008 2,777,587 -14.9 124.0 24.2
2009 2,365,681 -14.8 124.0 (4)
2010 2,050,619 -13.3 157.1 33.1
2011 2,320,540 13.2 160.0 2.9
2012 2,575,225 11.0 102.7 -57.3
2013 2,718,879 5.6 155.3 52.6

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.
(4) Less than 0.1 point.

Source: SNL Financial LC.

PRODUCTS LIABILITY INSURANCE, 2003-2012

($000)
Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2003 $2,726,599 51.7% 165.8 -187.5 pts.
2004 3,401,867 24.8 152.4 -13.5
2005 3,546,009 4.2 131.1 -21.3
2006 3,621,671 2.1 77.8 -53.3
2007 3,265,035 -9.8 99.8 22.0
2008 2,777,587 -14.9 124.0 24.2
2009 2,365,681 -14.8 124.0 (4)
2010 2,050,619 -13.3 157.1 33.1
2011 2,320,540 13.2 160.0 2.9
2012 2,546,403 9.7 100.4 -59.6

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.
(4) Less than 0.1 point.

Source: SNL Financial LC.

PRODUCTS LIABILITY INSURANCE, 2002-2011

($000)
Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2002 $1,776,434 -11.9% 354.9 140.0 pts.
2003 2,711,952 52.7 167.1 -187.7
2004 3,364,997 24.1 153.1 -14.0
2005 3,525,584 4.8 124.2 -29.0
2006 3,616,544 2.6 84.8 -39.4
2007 3,304,030 -8.6 101.4 16.7
2008 2,777,568 -15.9 124.9 23.4
2009 2,365,986 -14.8 123.0 -1.9
2010 2,050,510 -13.3 157.1 34.1
2011 2,320,518 13.2 158.8 1.7

(1) After reinsurance transactions, excluding state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: SNL Financial LC.

Product Liability Insurance, 2016-2025

($000)
Year Net premiums
written (1)		 Annual percent
change		 Combined
ratio (2)		 Annual point
change (3)
2016 $2,422,376 -13.4% 119.8 -10.8 pts.
2017 2,689,098 11.0 102.1 -17.8
2018 2,794,538 3.9 122.9 20.9
2019 3,014,579 7.9 108.6 -14.3
2020 3,237,200 7.4 88.2 -20.4
2021 3,559,032 9.9 100.5 12.3
2022 4,286,152 20.4 89.3 -11.2
2023 4,448,950 3.8 99.8 10.5
2024 4,533,082 1.9 108.1 8.3
2025 4,791,510 5.7 93.5 -14.6

(1) After reinsurance transactions, excludes state funds.
(2) After dividends to policyholders. A drop in the combined ratio represents an improvement; an increase represents a deterioration.
(3) Calculated from unrounded data.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.