Lloyd’s wrote 20% of Q2 Texas E&S premium while Berkshire increased share

The Surplus Lines Stamping Office of Texas (SLTX) has recorded a 13.4 percent increase in premium for the second quarter of this year, with Lloyd’s the top insurer with a 20 percent share of premium and Berkshire Hathaway moving up into the second spot.

As this publication previously reported, SLTX recorded $947.5mn in premium in June, which was the largest monthly tally reported in the office’s 33-year history. That brought the total for the first half of the year to $4.58bn.

In a new analysis, SLTX has revealed that for the second quarter it recorded $2.58bn of premium, up 13.4 percent on the prior-year period.

Policy count increased to 188,713 in Q2 2021, up 1.4 percent over Q2 2020.

Underwriters at Lloyd’s wrote $512.7mn of premium in Q2 2021, giving the market a 20 percent share of total premium and maintaining the top insurer spot it held in Q2 2020.

Berkshire Hathaway subsidiary National Fire & Marine Insurance Company wrote $99.0mn of Texas surplus lines premium in the second quarter of this year. That gave it a 4 percent share of total premium and ranked it second in the list of top insurers, one place higher than the third place it held in Q2 2020.

Chubb E&S unit Westchester moved up from fifth place to third place in Q2 2021, with its $79.7mn of premium giving it a 3 percent share of total premium.

AIG’s Lexington remained in fourth place, with its $78.6mn of premium also giving it a 3 percent market share.

In fifth place in Q2 2021 was Scottsdale Insurance Company, a subsidiary of Nationwide. It wrote $70.7mn of E&S premium in Texas during the quarter.

SLTX also provided some details on how much individual lines of business have grown in the past two years.

In the first half of 2021, excess/umbrella premium was $836mn, up from $527mn in the first half of 2019. Fire/allied lines H1 2021 premium was $1.5bn, up from $1.2bn in the first half of 2019.