A.M. BestTV: U.S. Surplus Lines Sector Weathers Challenging Year, Say A.M. Best Analysts
The surplus lines market notched its sixth consecutive year of premium growth in 2017. This occurred at a higher level than in 2015 and 2016 and despite competitive pressures. Blades highlighted A.M. Best’s stable outlook for the sector and the rationale for that outlook.
“Basically, surplus lines insurers and intermediaries continue to show resiliency through tough market conditions and a tough year in 2017 from weather-related catastrophes,” said Blades. “However, given the weather-related losses in 2017, surplus lines insurers still managed to generate 5.8% in terms of top-line direct premium volume growth.”
Raber discussed the role mergers and acquisitions have played in the sector.
“There is a lot of consolidation going on in the industry,” said Raber. “Because of the profitability in the surplus lines sector, companies that want to advance their market position, share or branding are looking at opportunities to add other surplus lines companies to the current surplus organization.”
To access a copy of this market segment report, titled, “Surplus Lines Push Through Various Headwinds to Enhance Growth,” visit http://www3.ambest.com/bestweek/purchase.asp?record_code=278125.
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