September 24, 2013
Domestic Surplus Lines Carriers Report Increase in DPW
Domestic professional surplus lines insurers generated a 6.8% increase in direct premiums written in 2012, continuing the momentum from the previous year. This would mark the second year since 2006 that DPSL composite premium grew, according to the 2013 Special Report U.S. Surplus Lines Ð 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 quickly become the authoritative study of the industry, demonstrating the stability of the excess and surplus lines sector.”
This is the 20th 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 ninth year in a row, the surplus lines industry reported no financially impaired companies, in contrast to the admitted property/casualty industry’s 21 disclosed financial impairments in the admitted P/C industry. Domestic professional surplus lines insurers continued their trend, having maintained a higher proportion of “secure ratings” than the overall P/C industry for 10 consecutive years.