Through the first half of 2022, the U.S. excess and surplus market saw direct premiums, excluding Lloyd's of London syndicates, grow 27.6% to reach $37.6 billion, according to S&P Global.
According to Fitch Ratings, the growth is being driven by hard-to-write risks and volatile businesses moving into the E&S market. Further, hard market pricing is boosting premium growth across all segments.
One of the biggest trends of 2022, and one that is likely to move into 2023, is more business flowing into the E&S and wholesale spaces, according to Danny Kaufman, president of Burns & Wilcox and vice president at its parent company H.W. Kaufman Group.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
