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Surplus lines premiums increased 32.4%, to $31.4 billion in the first half, according to the U.S. Surplus Lines Service and Stamping Offices’ 2022 midyear report, which was issued Tuesday.
Stamping offices typically report higher premiums in the third and fourth quarters than in the first and second, “and most predict dynamic economic factors will drive continued growth for the surplus lines market for the balance of 2022,” according to the statement issued by the Kansas City, Missouri-based Wholesale & Specialty Insurance Assn.
The WSIA reported in July 2021 that surplus lines totaled $24.04 billion in the first half of the year, up 21.9% from the year-earlier period.