Texas surplus lines premium has been recorded at $7.81 billion year-to-date as at the end of August, according to figures from the Surplus Lines Stamping Office of Texas (SLTX), representing an increase of 26.3% over last year’s total for the same period.
SLTX recorded $1.12 billion of premium in August, which was a 45.7% increase over August 2021, and is the fifth consecutive month to break more than a billion dollars in premium.
Of the reported premium, 59.4% attributes to renewal policies, 35.4% to new business, and 5.2% is concluded from non-policy transactions.
The largest increase, Commercial Fire / Allied Lines coverage, rose $127.6 million, or 62.3%.
Excess / Umbrella, Commercial General Liability, and Auto Commercial Liability coverages also recorded growth, up $64.8 million, $35 million, and $11.5 million respectively.
Overall transactions also reflected growth for August item counts, up 5.7% when compared to August 2021.
SLTX also noted that Texas surplus lines premiums continue to trend with existing hard-market conditions.
Created by the Legislature in 1987, SLTX is a non-profit unincorporated organization that functions to ensure the integrity of the excess and surplus lines insurance market, and to provide business partners with data, analysis, and educational resources.
