In what marked the highest-grossing year for the wholesale industry at the time, surplus line premiums reached $41.7 billion, an increase of nearly 15%, during 2020, according to the Surplus Lines Stamping Office of Texas (SLOT), which captures data from 15 states.

The sum recorded by SLOT accounted for 63% of the sector's 2020 premiums, which in total hit $66.1 billion, according to AM Best projections.

While 2020 was a record year, 2021 is on pace to surpass it. During the first half of 2021, surplus line premiums have exceeded $24 billion and premium-bearing transaction filings exceeded 2.6 million. This is more than half of the 4.94 million transactions seen in full-year 2020, according to SLOT data. Premiums increased 21.9% and transaction volume grew 7.2% during the period.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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