WASHINGTON—Surplus lines underwriters outperformed the property and casualty insurance industry's combined ratio by an average of 10 percentage points for the 2009−2013 period, according to a new report by Fitch Ratings.
The report said direct premium in the U.S. excess and surplus lines insurance market direct written premiums expanded by 8 percent.
Moreover, premium growth is up 5 percent for the first half of 2014, meaning that underwriting profitability is expected to be sustained in 2014. That follows a strong 2013 performance that beat the P&C industry aggregate by almost 10 percentage points on a direct combined ratio basis, the report says.
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