The Wholesale & Specialty Insurance Association (WSIA) said surplus lines premiums set a record in 2022. The income of $63.32 billion topped 2021’s figures by 24.1%. The number of transactions tallied drove the increase.
WSIA said transactions jumped 6.9% to 5.6 million.
The largest increase came from the PIA Western Alliance state of California and its $16.13 billion in sales. The 912,395 sales are a 9.8% increase over 2021.
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