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Surplus line premiums up 10.3% in first half: WSIA

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Surplus line premiums reported to the U.S. surplus lines stamping and service offices increased 10.3% in the first six months of this year compared with the year-earlier period,  although the number of transactions decreased slightly, the Wholesale & Specialty Insurance Association said Tuesday.

Premiums increased to $19.74 billion for this year’s first half, while transactions decreased 2.6% to 2.3 million, according to the report issued by Kansas City, Missouri-based WSIA.

States with stamping offices accounted for 62.7% of U.S. premium volume in 2018, according to stamping office and A.M. Best reports, WSIA said in its statement.

Each of the 15 stamping offices reported premium increases for midyear 2020, with eight states reporting double-digit percentage increases.