January 2025 Filings Reach $1.5B

SLTX recorded $1.48B in January. This represents a 34.0% increase over January 2024, and 34.0% increase year-to-date.

52.6% of premium reported (33.7% of items) is attributable to renewal policies, 41.6% (30.5% of items) to new business, and 5.8% (35.8% of items) to non-policy transactions. Furthermore, non-policy transactions are predominately Premium Endorsements (24,048 items or 68.1% of the 35.8%) and Cancellations (8,896 items or 25.2% of the 35.8%).

The largest increase, Excess/Umbrella Liability coverage, rose $97.5M (or 51.6%). Builders’ Risk Property, Commercial Fire and Allied Lines, and Commercial Auto Liability coverages also recorded growth, up $58.6M (473.2%), $56.6M (16.0%), and $39.9M (129.9%) respectively. 67.5% of total premium increases can be attributed to these coverages.

Overall transactions reflected growth for January in item counts, up 10.3% when compared to January 2024. A 11.4% increase in policies filed (63,194) was recorded with average premium per item ($14,991) up 21.4% from January 2024. Record-keeping transactions (name, number, or insurer change endorsements; reversals; etc.) and cancellations were down 20.2% and up 17.9% 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.