The Surplus Lines Stamping Office of Texas issued a report showing that 14 states with stamping offices saw growth in surplus lines premium during 2013 when compared to 2012. Total surplus lines premium reported to the Stamping Offices was nearly $22.5 billion, representing more than 3.1 million transactions. While the report indicates growth of 15.5% in total, it is heavily influenced by a large amount of prior years’ return premium transactions processed by New York in 2012. In 2012, New York processed a significant volume of return premium for policy years prior to 2012. Therefore, total 2012 New York premium was artificially low, making the percentage increase in New York premium comparing 2012 to 2013 artificially high. When excluding New York for this anomaly, the remaining stamping offices reported a 12.2% increase in 2013 premium compared to 2012. This report is now available by clicking here.
The report of stamping office premium during the first six months of 2013 relative to the same period in 2012 is also available illustrating a 21.2% increase. When excluding New York and its 2012 return premium transaction anomaly, the remaining stamping offices reported a 15.1% increase in premium. To view the six-month report of 2013 to 2012 data, click here.
The report of calendar year 2012 to 2011 comparisons is also available illustrating a 0.9% increase in 2012 premium volume. When excluding New York and its 2012 return premium transaction anomaly, the remaining stamping offices reported an 11.8% increase in premium. To view the report of 2011 to 2012 data, click here.