March 2025 Filings Reach $1.4B

SLTX recorded $1.39B in March. This represents a 22.5% increase over March 2024, and 25.3% increase year-to-date.

55.7% of premium reported (32.5% of items) is attributable to renewal policies, 38.6% (34.9% of items) to new business, and 5.7% (32.6% of items) to non-policy transactions. Furthermore, non-policy transactions are predominately Premium Endorsements (25,307 items or 67.7% of the 32.6%) and Cancellations (9,300 items or 24.9% of the 32.6%).

The largest increase, Builders’ Risk Property coverage, rose $68.4M (or 439.3%). Commercial Fire and Allied Lines, Commercial General Liability, and Excess/Umbrella Liability coverages also recorded growth, up $50.9M (13.3%), $35.3M (25.6%), and $24.0M (12.2%) respectively. 70.0% of total premium increases can be attributed to these coverages.

Overall transactions reflected growth for March in item counts, up 4.4% when compared to March 2024. A 18.8% increase in policies filed (77,509) was recorded with average premium per item ($12,094) up 17.3% from March 2024. Record-keeping transactions (name, number, or insurer change endorsements; reversals; etc.) and cancellations were down 26.9% and up 27.9% 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.