The excess and surplus lines and specialty insurance market is booming and looks set to continue its upward trajectory. The question is whether the sector currently has the resources to take advantage of these business opportunities.
Executive Summary
Specialty insurance has experienced significant growth in recent years. Greg Gaydos, Senior Business Development Executive at Zywave, looks at the reasons and advises how to best take advantage of its wealth of opportunities.The financial statistics are testament to this success: E&S saw double-digit, year-over-year growth for four consecutive years, from 2018 to 2022. According to S&P Global, the market grew by 20 percent in 2022, reaching $75.5 billion in premiums. (Editor’s Note: For more recent data, see related article: “Continued Growth for Surplus Lines in 2023 as Premiums Up 14.6%“)
