The 2023 annual report on surplus lines premium reported by the 15 U.S. surplus lines stamping and service offices was released today, and it shows continued surplus lines premium growth.
The report also includes data categorized by line of business. Comparing 2022 and 2023 surplus lines market data, this report identifies key lines of business including auto liability, auto physical damage, disability/A&H, inland marine, liability (non-professional), multi-peril, professional liability, property, and residential/homeowners/other personal property. The stamping offices collaborated to map each state’s coverage codes into these nine lines of business, providing a composite across the 15 states, representing the only source of surplus lines premium by line of business of its kind.
Highlights from the 2023 annual report of the stamping offices include:
- Total surplus lines premium reported to the stamping offices reached $72.7 billion during 2023, representing a 14.6% increase over 2022. Transactions increased by 5.2% during the year compared to the year prior.
The media release and full data are available here. Historical stamping office data is also available on the WSIA website.