Strong growth fueled by climate-related losses and shifting risk appetites in property
Total US surplus lines direct premiums written (DPW) exceeded $100 billion for the first time in 2023, reaching a record $115.6 billion, according to a new report from AM Best. This marked a 17.4% increase over the prior year.
The Best’s Market Segment Report, titled “Improved Underwriting and Operating Results Sustain US Surplus Lines Market Momentum,” noted that the surplus lines market has experienced strong growth, with annual double-digit DPW increases since 2018.
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