October 1, 2024

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September E&S Premiums Finish at $1.2B

Similar to August totals, September premium totaled $1.2 billion but was 14% ahead of premium totals for September 2023. Conversely, policy count is down 6%, totaling 120 thousand.

September also marks the end of the third quarter. Both premium and policy count rose 11% and 5%, respectively, over the third quarter of 2023. Year-to-date statistics show similar results to quarter three, with a premium increase of 12% and a policy count increase of 6%.

Monthly Premium Breakdown

*Percentage of change based on same reporting period in 2023 and 2024.

 

Premium Comparison 2023 vs. 2024

 

Monthly Policy Breakdown

*Percentage of change based on same reporting period in 2023 and 2024.

Policy Comparison 2023 vs. 2024

New Business and Renewals

New business and renewal ratios moved slightly in September, with new business shifting to 46% and renewals to 54%. Year-to-date ratios held tight at 43% and 57%, respectively.

New Business & Renewals

 

Top Coverages

Commercial Property stayed in the lead, with $396.8 million, a 38% increase over last September. Policy count increased by 13% to more than 14 thousand.

Excess Commercial General Liability also stands out with a 40% premium increase over last September. Commercial Package and Miscellaneous E&O Liability saw marginal premium declines compared to the same period in 2023. 

A majority of coverages saw an uptick in policies except for Commercial General Liability, Builders Risk - Commercial, and Commercial Package, which declined 27%, 26%, and 5%, respectively. 

Year-to-date statistics paint a more clear picture of stability concerning specific coverage lines. Commercial Property increased marginally by 9% on premium and policy count. Commercial General Liability premium increased 18%, ten percentage points above the September increase of 8%. Excess Commercial General Liability YTD premium was consistent with September, at 38%, an increase over the first nine months of 2023.

Policy count totals for the year didn't waver much compared to 2023, with the exception of Miscellaneous Liability, which increased by 57%.

Top Coverages September

Top Coverages YTD

Download FL Premium Report
For more statistics check out Florida Market Data

www.fslso.com

Have questions? Contact us at 800.562.4496, option 1 or email agent.services@fslso.com.

 
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