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4 LIVE REPORTERS CA $15.90BTX $13.33BFL $12.18BNY $7.35B 15 OFFICES
Executive briefing / September 22, 2026

The market is still expanding. The rhythm has changed.

Live market edition
Sources: WSIA + state offices
MARKET THESIS Start with the live reporting states, read the long cycle in context, then use the state ledger as the handoff to detailed dossiers.

What's happening now

Latest data from the four states that publish monthly · combined $48.8B across their latest reports · data as of September 22, 2026

$15.90B
Declining YoY, and Softening vs LY
California Updated monthly
Jan–Aug 2026 · SLACAL
$13.33B
Growing YoY, but Softening vs LY
Texas Updated monthly
Jan–Aug 2026 · SLTX
$12.18B
Declining YoY, and Softening vs LY
Florida Updated monthly
Reporting period unavailable · FSLSO
$7.35B
Growing YoY, but Softening vs LY
New York Updated monthly
YTD through August 2026 · ELANY

California vs Texas monthly premium — 2026

Florida and New York publish period totals, not monthly series, so they can't be shown here.

The bigger picture

10 years of stamping-office records, 2016–2025 · built from the WSIA and state association archives

$90.3B
Full market, 2025
2025 full year, all 15 stamping offices
3.4×
Growth since 2016
growth since 2016
+24%
The peak was 2022
the height of the hard market
$47.6B
H1 2026 premium
first half, as reported by WSIA
+3%
H1 2026 vs H1 2025
the slowest first half on record here

National surplus lines premium, 2016–2025 + H1 2026

Full-year premium reported across all fifteen stamping-office states (bars, left axis) with year-over-year growth (line, right axis). The lighter final bar is H1 2026 — a half year, with growth measured against the first half of the prior year. Source: WSIA stamping office reports, 2016–2026.

Decade in Review
Surplus lines premium across the fifteen stamping-office states has grown from $26.5B in 2016 to on pace for nearly $92.9B in 2026 — 3.5× in 10 years. But the market is past the steepest part of its cycle: growth peaked at 24% in 2022, the height of the hard market.

State Growth Ledgers

The four monthly reporters by default — full picture for each state on its individual page.

Conditions State2025 premiumShare Avg Policy 5-yr CAGR2025 growthLatest H1
Growing YoY, and Hardening vs LY California $22.10B 24.5% $13,343 +14.7% +17.9% +4.0% H1 2026
Growing YoY, but Softening vs LY Texas $18.21B 20.2% $12,177 +18.1% +9.8% +5.0% H1 2026
Growing YoY, but Softening vs LY Florida $17.33B 19.2% $8,000 +18.0% +1.8% -5.6% H1 2026
Growing YoY, and Hardening vs LY New York $10.49B 11.6% $19,282 +15.7% +14.5% +4.8% H1 2026

Going deeper

Growth trajectories and the states that update on slower cycles.

Who's still accelerating — and who's cooling

The ledger above, seen from another angle: each state's five-year compound growth rate (2020–2025) against its most recent full-year growth (2024→2025). States where the dark bar falls short of the light one are decelerating.

What to watch next
California, Texas, Florida write 64% of all stamping-office premium ($57.6B of $90.3B in 2025), so the monthly data on this page is really a read on those three. And within the three, California is now doing the pulling: it added $3.35B of new premium in 2025 (up 18%, to $22.1B), the largest dollar gain of any state, while Florida — which grew at 18% a year over the past five years — rose just 2% in 2025 — and its H1 2026 premium is running 6% below a year earlier. Property-driven Florida is where the softening shows first. What to watch next month: California's monthly premium prints and Texas filings land first, and Florida's year-to-date total shows whether the property market is firming or fading — together they preview the national number months before the annual reports do.
The Quietly Growing States
Parts of the middle market are out-compounding the big three. Over the past five years, Arizona (21%/yr), Oregon (20%/yr), Nevada (19%/yr) have each grown faster than California, Texas or Florida. Together these faster-growing states write $9.3B — small individually, but they are where 2025 growth was broadest.

Other stamping office states

These 11 states update on midyear or annual cycles, mostly via WSIA's semi-annual reports — see their individual pages for detail.

$2.58B
H1 2026 · WSIA 2026 Midyear Report
$2.05B
H1 2026 · WSIA 2026 Midyear Report
$1.38B
H1 2026 · WSIA 2026 Midyear Report
$1.31B
H1 2026 · WSIA 2026 Midyear Report
$1.05B
H1 2026 · WSIA 2026 Midyear Report
$800M
H1 2026 · WSIA 2026 Midyear Report
$630M
H1 2026 · WSIA 2026 Midyear Report
$544M
H1 2026 · WSIA 2026 Midyear Report
$525M
H1 2026 · WSIA 2026 Midyear Report
$485M
H1 2026 · WSIA 2026 Midyear Report
$257M
H1 2026 · WSIA 2026 Midyear Report