March 2025 Filings Reach $1.4B
SLTX recorded $1.39B in March. This represents a 22.5% increase over March 2024, and 25.3% increase year-to-date.
55.7% of premium reported (32.5% of items) is attributable to renewal policies, 38.6% (34.9% of items) to new business, and 5.7% (32.6% of items) to non-policy transactions. Furthermore, non-policy transactions are predominately Premium Endorsements (25,307 items or 67.7% of the 32.6%) and Cancellations (9,300 items or 24.9% of the 32.6%).
The largest increase, Builders’ Risk Property coverage, rose $68.4M (or 439.3%). Commercial Fire and Allied Lines, Commercial General Liability, and Excess/Umbrella Liability coverages also recorded growth, up $50.9M (13.3%), $35.3M (25.6%), and $24.0M (12.2%) respectively. 70.0% of total premium increases can be attributed to these coverages.
Overall transactions reflected growth for March in item counts, up 4.4% when compared to March 2024. A 18.8% increase in policies filed (77,509) was recorded with average premium per item ($12,094) up 17.3% from March 2024. Record-keeping transactions (name, number, or insurer change endorsements; reversals; etc.) and cancellations were down 26.9% and up 27.9% 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).