Texas Surplus Lines Transactions Exploded in July - Why is Premium Not Matching?

Texas July 2026: Steady Premium, Explosive Filings July’s Texas surplus lines numbers look ordinary until you look at the filings column. Premium came in at $1.86B, up 6% from July 2025. Growth in July of 2025 was 10%, so Texas is softening vs last year as expected. That is consistent with the broader deceleration we have been seeing across the large stamping offices. Year-to-date through July sits at $11.67B, still tracking toward roughly $20B for the full year if the run-rate holds. The filing's number is the actual story. SLTX processed 305,074 items in July. That is roughly double the monthly volume from earlier in 2026 (June was 156k, May 132k, April 148k). SLTX’s SMART platform added an API pathway that dramatically improved whatever flow existed before, and it has resulted in a huge influx of successful transaction reporting. Average premium per filing dropped by ~50% as a direct result. Essentially, they've solved a major submissions process problem, and as a result, volume growth exponentially outpaced premium growth. It'll be interesting to watch their numbers in August to see where the trend goes on volume and average premium. Texas also overtook Florida for the #2 spot in the country for H1 2026 production, and that gap has widened in July to nearly $1B. We'll see if they can maintain the momentum through the rest of the year. Commercial property remains the dominant coverage by a wide margin, even as property premium has softened or declined in most other large surplus lines states. Liability growth is present, but it is building on top of a property base that has not yet given way the way it has elsewhere. These four coverages account for the majority of the premium growth in July: - Excess/Umbrella (+$56M / +21%) - Commercial Auto Liability (+$32M / +51%) - Commercial General Liability (+$32M / +19%) - Credit – Asset & Collateral Protection (very large percentage increase on a smaller base) Full Texas series: surpluslinesreporting.org/texas — Nourse Fox, 8.11.26 Source: SLTX Policy & Premium Reports; Surplus Lines Reporting data.