Texas Hits Record-Breaking Year
Surplus lines premium in Texas increased to $5.46 billion in 2017, up from $5.12 billion in 2016, according to data collected by the Surplus Lines Stamping Office of Texas (SLTX). These numbers represent a 6.5% growth over 2016, and show a total 10-year growth of 66.2% since 2008, when premium totals reached $3.28 billion.
Recorded premium was highest during the summer months, with the most premium documented in June 2017 at $592 million. The lowest total recorded for the year was in February 2017 at $332 million.
In Texas and nationally, surplus lines premium has continued to rise over the past several years. This year, as service offices throughout the country finalize their data, it may be seen that other states have had similar results for 2017, and evaluating premium totals in the United States will provide an indication of the health of surplus lines insurance.