May 2025 Filings Reach $1.8B

SLTX recorded $1.78B in May. This represents a 5.6% increase over May 2024, and 18.5% increase year-to-date.

60.3% of premium reported (32.3% of items) is attributable to renewal policies, 36.7% (36.1% of items) to new business, and 3.0% (31.6% of items) to non-policy transactions. Furthermore, non-policy transactions are predominately Premium Endorsements (26,119 items or 68.5% of the 31.6%) and Cancellations (9,647 items or 25.3% of the 31.6%).

The largest increase, Excess/Umbrella Liability coverage, rose $112.6M (or 45.3%). Builders’ Risk Property, Commercial Package, and Homeowners’ coverages also recorded growth, up $51.4M (287.5%), $18.6M (28.9%), and $17.1M (57.2%) respectively. 211.7% of total premium increases can be attributed to these coverages. The total growth for the top 4 coverages mentioned exceed 100% of the total premium growth for the month due to coverages that experienced premium decline from May 2024.

Overall transactions reflected growth for May in item counts, up 0.7% when compared to May 2024. An 8.2% increase in policies filed (82,526) was recorded with average premium per item ($14,792) up 4.9% from May 2024. Record-keeping transactions (name, number, or insurer change endorsements; reversals; etc.) and cancellations were down 0.4% and up 7.9% 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.