YTD SL Premium Exceeds Previous Totals
Surplus lines premium recorded through the end of November has reached $5.04 billion in Texas, according to data provided at the Surplus Lines Stamping Office of Texas (SLTX) fourth-quarter board meeting on December 5, 2017. This total represents a year-to-date increase of 6% over the same period in 2016, and premium recorded in November 2017 shows a 10% growth over November 2016.
Prior to December, the total amount of premium recorded so far in 2017 has surpassed final totals from 2015, which includes the full calendar year. Over the past 10 years, premium totals have increased steadily, demonstrated by a 54% growth since 2008.
At the board meeting, SLTX CEO Norma Essary also detailed success of the organization’s goals for the year, noting that 2017 was active due in part to the 85th legislative session. In addition, members of the SLTX staff presented highlights on insurer solvency analyses, internal audit processes, technology advancements, and communication efforts.
The next meeting of the SLTX Board of Directors will be held in March 2018.