US E&S Property Premiums Drop 13.7% as Liability Lines Grow Up to 15.8% in H1
Updated
Updated · ProgramBusiness · Aug 17
US E&S Property Premiums Drop 13.7% as Liability Lines Grow Up to 15.8% in H1
1 articles · Updated · ProgramBusiness · Aug 17
Summary
$47.6 billion in surplus lines premium flowed through 15 stamping-office states in H1 2026, up 2.8%, even as property premiums fell 13.7% and filings jumped 16.9% to 4.3 million.
New capital after a benign 2025 hurricane season expanded property capacity and pushed down rates on cleaner commercial risks, lifting property transaction volume 15.2% despite the premium decline.
Liability remained the growth engine: non-professional liability rose 11.2% to 39.6% of total premium, while professional liability, auto liability and inland marine increased 15%, 15.8% and 12.3%.
State results diverged around that split, with Florida premium down 5.6% as policy volume rose 14.4%, California seeing softer property and stronger liability, and North Carolina premium up 13.4% as homeowners and flood business surged.
The report said social inflation, nuclear verdicts and litigation funding are still driving liability loss costs, while carrier results already show property pressure—Kinsale's commercial property premiums fell 30.9% in the first half.