Texas Premium Up 13%
Surplus lines premium in Texas has increased to $3.48 billion at the 2019 mid-year point, up 13.4% over 2018’s mid-year total of $3.06 billion, according to data reported to SLTX. Through the first half of the year, each month’s recorded premium has been the highest ever reported for that month.
Total filings for the first two quarters of the year have grown 4.6%. Through the end of June 2019, SLTX has recorded 548,884 filings, compared to 524,970 at this point in 2018.
On a monthly basis, June 2019 premium showed a 15.1% increase over June 2018, up to $692.92 million from $602.11 million, though filings decreased 1.3%, from 92,983 in 2018 to 91,743 this year.
Each year, SLTX conducts a mid-year and end-of-year report analyzing peer markets across the United States. As the 2019 mid-year analysis is released in the coming month, it will be seen whether other states in the nation are experiencing similar growth.