Market series
Thirty-four years of the aircraft line in California
The longest public run of aviation insurance results in the United States: every year from 1991 to 2024, from one regulator, on one basis.
What the series shows
The line has run hard cycles: loss ratios above 100 percent in the early 1990s, a long soft stretch in the mid 2000s and early 2010s, and a return to loss ratios mostly in the high 60s and low 70s from 2017 to 2023. Written premium nearly quadrupled over the period while the number of companies writing it fell by about half. A single year says little; the shape across three decades is the point.
| Year | Written premium | Earned premium | Incurred loss | Loss ratio | Companies |
|---|---|---|---|---|---|
| 2024 | $288.7M | $276.8M | $162.4M | 58.68% | 26 |
| 2023 | $283.6M | $279.2M | $196.7M | 70.45% | 28 |
| 2022 | $260.1M | $248.2M | $165.4M | 66.63% | 24 |
| 2021 | $240.9M | $229.8M | $154.4M | 67.20% | 26 |
| 2020 | $210.4M | $199.5M | $147.2M | 73.80% | 28 |
| 2019 | $171.2M | $167.1M | $93.6M | 56.01% | 30 |
| 2018 | $159.9M | $149.1M | $100.9M | 67.65% | 32 |
| 2017 | $147.6M | $146.6M | $109.0M | 74.33% | 34 |
| 2016 | $140.1M | $139.8M | $68.2M | 48.80% | 31 |
| 2015 | $138.4M | $135.1M | $41.0M | 30.39% | 32 |
| 2014 | $135.1M | $140.9M | $65.2M | 46.26% | 33 |
| 2013 | $141.0M | $142.6M | $90.9M | 63.73% | 32 |
| 2012 | $151.9M | $153.7M | $41.4M | 26.94% | 32 |
| 2011 | $143.5M | $149.4M | $55.3M | 37.00% | 32 |
| 2010 | $164.8M | $163.8M | $62.2M | 37.97% | 29 |
| 2009 | $176.7M | $182.0M | $72.3M | 39.72% | 28 |
| 2008 | $195.0M | $197.3M | $123.8M | 62.75% | 30 |
| 2007 | $218.5M | $221.6M | $88.9M | 40.10% | 27 |
| 2006 | $221.4M | $221.8M | $88.6M | 39.96% | 36 |
| 2005 | $220.3M | $214.3M | $56.2M | 26.21% | 33 |
| 2004 | $207.8M | $211.5M | $72.2M | 34.13% | 29 |
| 2003 | $232.2M | $215.9M | $98.8M | 45.75% | 32 |
| 2002 | $199.8M | $179.9M | $157.8M | 87.72% | 24 |
| 2001 | $140.7M | $132.3M | $83.9M | 63.44% | 32 |
| 2000 | $122.6M | $113.1M | $59.9M | 52.98% | 43 |
| 1999 | $111.2M | $106.3M | $68.3M | 64.32% | 36 |
| 1998 | $106.7M | $103.8M | $88.4M | 85.15% | 42 |
| 1997 | $97.9M | $94.6M | $53.9M | 56.97% | 45 |
| 1996 | $104.5M | $105.2M | $31.0M | 29.48% | 51 |
| 1995 | $96.2M | $94.2M | $50.2M | 53.30% | 60 |
| 1994 | $95.3M | $88.8M | $94.3M | 106.21% | 61 |
| 1993 | $90.4M | $83.4M | $114.7M | 137.41% | 49 |
| 1992 | $77.1M | $75.3M | $56.4M | 74.87% | 51 |
| 1991 | $75.6M | $73.4M | $77.5M | 105.61% | 51 |
Loss ratios move with rate as well as with losses; this series describes results, not the cost of an accident. California’s book is one state’s and is not a proxy for the national line.
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