For the first time, premium on policies reported to the Surplus Lines Stamping Office of Texas (SLSOT) totaled more than $5 billion last year.
This record volume in 2014 was $336.5 million over 2013, representing an increase of 7 percent.
Premium on multi-state policies insuring non-Texas exposures where Texas was the home state equaled $443 million.
SLSOT also reported that total filings submitted by surplus lines agents for the year were 925,277, an increase of 4.6 percent from the prior year.
While the moderate increase in both premium and filings reflects an improving economy, the Texas surplus lines market did not signal a typical “hard” insurance cycle in 2014.
Source: SLSOT
Topics Texas Excess Surplus
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