For more than a decade the property-casualty surplus lines insurance market has outperformed the primary commercial p-c lines market in both premium growth and underwriting profit, according to a consulting firm's study.
Clint Harris, an analyst at Hartford, Conn.-based Conning Research and Consulting Inc., which prepared the analysis, said through 2006 the surplus lines market ten-year average annual direct premium growth was 19.5 percent versus just 7.6 percent for total commercial lines.
"It's not just about premium growth, however. For the same period, the annual average combined ratio was 104.4 percent on a calendar-year basis for surplus lines and 107.1 percent for total commercial lines," he noted.
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