Texas Surplus Lines Premium Increases in Q1 2020
Premium recorded for the first quarter of 2020 for excess and surplus lines of insurance in Texas is up 14.5% compared with the same period last year, according to the Surplus Lines Stamping Office of Texas (SLTX).
Additionally, the Q1 2020 filings represent a 27.4% growth in premium over the first quarter of 2018.
SLTX said it recorded $1.67 billion E&S premium during the first three months of 2020. Premium reported to the stamping office so far in 2020 continues a trend of each month setting a new record for that month. Totals in January, February, and March 2020 all hit new highs at $540.0 million, $502.9 million, and $622.7 million in premium, respectively.
While premium increased over this time period, total filings made during the first quarter decreased 0.42% compared to the first quarter of 2019. SLTX recorded 259,952 filings to date in 2020 as of March 31, compared to 261,056 in the first three months of 2019 and 251,977 in Q1 2018.
Source: SLTX
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