January 2025 Filings Reach $1.5B

SLTX recorded $1.48B in January. This represents a 34.0% increase over January 2024, and 34.0% increase year-to-date.

52.6% of premium reported (33.7% of items) is attributable to renewal policies, 41.6% (30.5% of items) to new business, and 5.8% (35.8% of items) to non-policy transactions. Furthermore, non-policy transactions are predominately Premium Endorsements (24,048 items or 68.1% of the 35.8%) and Cancellations (8,896 items or 25.2% of the 35.8%).

The largest increase, Excess/Umbrella Liability coverage, rose $97.5M (or 51.6%). Builders’ Risk Property, Commercial Fire and Allied Lines, and Commercial Auto Liability coverages also recorded growth, up $58.6M (473.2%), $56.6M (16.0%), and $39.9M (129.9%) respectively. 67.5% of total premium increases can be attributed to these coverages.

Overall transactions reflected growth for January in item counts, up 10.3% when compared to January 2024. A 11.4% increase in policies filed (63,194) was recorded with average premium per item ($14,991) up 21.4% from January 2024. Record-keeping transactions (name, number, or insurer change endorsements; reversals; etc.) and cancellations were down 20.2% and up 17.9% respectively.

Texas surplus lines premiums continue to trend with existing hard-market conditions, including results of changes to diligent effort requirements (TX87 SB1367). SLTX continues to monitor the Texas surplus lines market and share data and analysis as recorded or completed.

To request any additional related data or analysis, please contact Christian Robinson, Senior Data Analyst (crobinson@sltx.org)