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.