Texas Surplus Lines Premiums in July 2021

The Surplus Lines Stamping Office of Texas (SLTX) stated that the Texas surplus lines premium for July 2021 was $836.1 million.

As of the end of July, the year-to-date total had risen to $5.42 billion, representing a 16.1 percent increase in premiums over the same period in 2020. Compared to July 2020, the July figure reflects a 15.6 percent (or $113 million) rise in premiums.

Various lines of business saw significant growth in July 2020, with excess/umbrella coverage seeing the most significant rise of about $28 million (or 25 percent ).

Additionally, coverages for fire/allied lines (residential, commercial, and historical codes) and general commercial liability (including new regulations that were previously merged) increased by $18.6 million (or approximately 7%) and $13.1 million (or 13%), respectively.

These three coverages are responsible for roughly 53% of overall premium increases.

The overall number of transactions filed (91,571) decreased by 1.6 percent in July 2021 compared to the same period in 2020, resulting in a 0.3 percent decline in total transactions filed year-to-date.

There was a 0.6 percent decline in policies filed (62,689), resulting in a 2.5 percent year-to-date decrease in policies filed.

Following the year-to-date pattern, renewal policies accounted for 60.4 percent of the premium reported this month, accounting for 38 percent of all items reported.

Furthermore, 35.2 percent of the premium (and 30 percent of the items) recorded is related to new business, with the remaining 4.4 percent (and 32 percent of the things) resulting from non-policy transactions such as endorsements and cancellations audits, installments, and so on.