February 2025 Filings Reach $1.1B

SLTX recorded $1.12B in February. This represents a 18.7% increase over February 2024, and 26.9% increase year-to-date.

52.1% of premium reported (31.4% of items) is attributable to renewal policies, 41.0% (31.7% of items) to new business, and 6.9% (36.9% of items) to non-policy transactions. Furthermore, non-policy transactions are predominately Premium Endorsements (25,706 items or 65.6% of the 36.9%) and Cancellations (8,446 items or 21.5% of the 36.9%).

The largest increase, Excess/Umbrella Liability coverage, rose $45.0M (or 29.3%). Oil & Gas Property, Commercial General Liability, and Homeowners’ coverages also recorded growth, up $33.8M (9,291.8%), $18.8M (15.4%), and $16.4M (99.4%) respectively. 64.5% of total premium increases can be attributed to these coverages.

Overall transactions reflected growth for February in item counts, up 10.1% when compared to February 2024. A 17.9% increase in policies filed (66,941) was recorded with average premium per item ($10,579) up 7.8% from February 2024. Record-keeping transactions (name, number, or insurer change endorsements; reversals; etc.) and cancellations were up 106.9% and 14.8% respectively.

Texas surplus lines premiums continue to trend with existing hard-market conditions, including results of changes to diligent effort requirements (TX87 SB1367). SLTX continues to monitor the Texas surplus lines market and share data and analysis as recorded or completed.