The Surplus Lines Stamping Office of Texas (SLTX) reports that excess and surplus lines premium (E&S) in Texas reached $6.95 billion in 2019, a 14.36% increase over 2018’s premium total of $6.08 billion.
The past year led to record-breaking totals, with year-end premium setting a new high and each month of the year setting a record for that month, according to SLTX.
The stamping office says many lines of business increased over the year, with notable growth in cyber liability, flood, and oil and gas liability coverage, up 41.64%, 28.52%, and 25.86%, respectively. Fire and allied lines, the largest coverage code in the Texas market, increased 21.77% from $1.74 billion to $2.12 billion. Excess liability coverage also recorded growth, up 23.33% from $949.58 million to $1.17 billion.
Filing totals increased over the year, though not at such a rapid pace as premium growth. In 2019, 1,093,760 items were filed with SLTX, up 4.43% from 1,047,318 in 2018. This total includes all transactions, such as endorsements, cancellations, and renewals.
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