Surplus lines premium in Texas increased to $3.48 billion at the 2019 mid-year point, up 13.4% over 2018’s mid-year total of $3.06 billion, according to data reported to the Surplus Lines Stamping Office of Texas (SLTX).
Through the first half of the year, each month’s recorded premium was highest ever reported for that month, SLTX says.
Total filings for the first two quarters of the year grewq 4.6%. Through the end of June 2019, SLTX recorded 548,884 filings, compared to 524,970 at that point in 2018.
On a monthly basis, June 2019 premium showed a 15.1% increase over June 2018, up to $692.92 million from $602.11 million, though filings decreased 1.3%, from 92,983 in 2018 to 91,743 this year.
Each year, SLTX conducts a mid-year and end-of-year report analyzing peer markets across the United States. The 2019 mid-year analysis will indicate whether other states are experiencing similar growth, according to SLTX.
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