Source: NAIC Annual Statement Database via Highline Data based on data available through mid-July.

The insurance data is derived principally from National Association of Insurance Commissioners statutory data.

Data for our report was retrieved from the Insurance Analyst PRO online product of Highline Data.

Unlike past years, this data includes direct premium and loss data for some state funds (including the State Compensation Insurance Fund in California).

Highline Data, headquartered in Cambridge, Mass., is a provider of insurance industry financial performance data and educational services. Highline Data is part of Summit Business Media, parent company of National Underwriter.

Contact Chris Rogers at 877-299-9424 for more information.

Charts: Individual group and company direct results on the accompanying Top-50 and by-state charts were calculated using premium, loss and expense data from the from state pages of the annual statement.

Net (of reinsurance) results on the Top-50 chart are from the Insurance Expense Exhibit of the annual statement.

Group premium changes include the impact of acquisitions. (In other words, an individual company acquired in 2009 is included in the 2009 group total but not the 2008 group total.)

Definitions: A pure loss ratio is the ratio of incurred losses to earned premiums.

To calculate a loss and loss adjustment ratio, defense costs and other claims-handling costs are added to incurred losses before dividing by earned premiums.

A combined ratio is essentially the sum of a loss and loss adjustment ratio and an expense ratio–which compares underwriting expenses, such as commissions, to written premiums.

A ratio of policyholder dividends to earned premiums is also deducted.

Incurred losses used in loss ratio and combined ratio calculations for any given calendar year consist of losses paid and reserves set up for claims that occurred during that year (current accident year incurred losses) and changes in loss reserves for claims that occurred in prior years.

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