E&S insurance midyear premiums reflect market uncertainty

Each of the 15 stamping offices reported premium increases for mid-year 2020 with eight states reporting double-digit percentage increases. While transaction counts were down overall, nine states reported increases. (Wholesale & Specialty Insurance Association)

Midyear surplus lines premium assessments reported by the 15 stamping and service offices in the United States illustrated the strong momentum the excess and surplus lines market had as 2020 began as well as the creeping impact of the COVID-19 pandemic as the year unfolded.

For the first six months of 2020, stamping offices reported nearly $20 billion in premium, which is 10.3% higher than the first six months of 2019. However, the number of filings was slightly down year-over-year.