September 24, 2012
Domestic Surplus Lines Carriers Report Increase in DPW
Domestic professional surplus lines insurers generated a 3.2% increase in direct premiums written in 2011, breaking a four year decline, and the overall surplus lines industry reported a 1.8% decrease in direct written premiums, the fifth consecutive decline, according to the 2012 Special Report U.S. Surplus Lines – Market Review.
The report is produced by the A.M. Best Co. with a grant from the Derek Hughes/NAPSLO Educational Foundation.
“We are pleased to continue our support to A.M. Best in producing the annual special report,” said Joseph Timmons, Foundation President. “The report has become the authoritative study of the industry, demonstrating the stability of the excess and surplus lines sector.”
This is the 19th annual report produced through the cooperation of A.M. Best and the Foundation. The report is one of the industry’s most important tools to promote and define the surplus lines industry as a market that is stable and solvent.
For the eighth year in a row, the surplus lines industry reported no financially impaired companies, in contrast to the admitted property/casualty industry’s 34 disclosed financial impairments, and domestic professional surplus lines insurers continue to maintain a higher proportion of secure ratings than the overall P&C industry.