SL Growth Continues in Texas
Surplus lines premium in Texas has consistently broken records each month in 2019, according to data recorded by SLTX. For the first five months of this year, each recorded total has been the highest premium amount ever reported for that particular month.
In May 2019, $681.56 million in premium was reported in Texas, a marginal increase over the $680.61 million recorded in May 2018, bringing the year-to-date total to $2.78 billion. This represents a 13.0% increase over 2018’s total of $2.46 billion from this time.
Filings have also increased for the year. A total of 457,141 filings have been recorded in 2019, a 5.8% growth over the 431,987 recorded for the first five months of 2018. For the month, SLTX saw a 3.8% increase in filings, from 93,760 in May 2018 to 97,289 in May 2019.
As the mid-year point approaches, SLTX will continue to monitor the Texas surplus lines market, as well as the national market, and share additional data as it is recorded.