FINANCIAL GUARANTY INSURANCE, 2002-2011

($000)

Year Net premiums written (1) Annual percent change Combined ratio (2) Annual point change (3)
2002 $2,596,750 35.7% 29.2 3.4 pts.
2003 3,506,363 35.0 24.8 -4.4
2004 3,118,566 -11.1 39.7 14.9
2005 3,006,829 -3.6 34.1 -5.6
2006 3,075,577 2.3 38.8 4.7
2007 3,038,967 -1.2 155.8 117.0
2008 3,171,561 4.4 422.5 266.7
2009 1,793,428 -43.5 101.2 -321.4
2010 1,371,908 -23.5 227.3 126.1
2011 968,899 -29.4 218.8 -8.5

(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.