Thursday, April 12, 2007

Stamping Offices report 7.1% increase in reported premium volume in 2006

Stamping offices reported that premium volume reported increased by 7.1% in 2006, according to a recent report by the Surplus Lines Stamping Office of Texas.

The Stamping Office compiled the premiums reported and also the number of items written in 2006 from the 15 stamping offices and compared the results to 2005. Overall premiums were up 7.1%, increasing from $21.9 billion to $23.5 billion while number of policies were up 2.8%, going from 3.44 million to 3.54 million.

Pennslyvania (39.8%), Mississippi (31.4%), Florida (27.5%) and Nevada (20.1%) reported premium volume increases of more than 20% while New York (-19.2%), Illinois (-9.6%) and Washington (-7.4%) reported significant decreases in premium volume.

Arizona reported a slight decline (-1.2%) in premium despite a 25.5% increase in policies. Florida's premium increase came despite a -1.0% drop in the number of items written.

Complete details are available by downloading the report.

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