2019 Texas E&S Premium Hits Nearly $7B
Excess and surplus lines premium (E&S) in Texas reached $6.95 billion in 2019, a 14.36% increase over 2018’s premium total of $6.08 billion, according to data recorded by SLTX. The past year led to record-breaking totals, with year-end premium setting a new high and each month of the year setting a record for that month.
Many lines of business increased over the year, with notable growth in cyber liability, flood, and oil and gas liability coverage, up 41.64%, 28.52%, and 25.86%, respectively. Fire and allied lines, the largest coverage code in the Texas market, increased 21.77% from $1.74 billion to $2.12 billion. Excess liability coverage also recorded growth, up 23.33% from $949.58 million to $1.17 billion.
Filing totals increased over the year, though not at such a rapid pace as premium growth. In 2019, 1,093,760 items were filed with SLTX, up 4.43% from 1,047,318 in 2018. This total includes all transactions, such as endorsements, cancellations, and renewals.