The E&S Market in the U.S. is Booming, But For How Much Longer?

January 27, 2020

  • Strongest premium growth in U.S. E&S premium in recent years.
  • However, how long will growth continue?


HARTFORD, CT, January 27, 2020The current growth spurt in the U.S. E&S market began in 2018, gained steam in 2019, and is poised to continue in 2020, according to a new study by Conning.


“There are several factors that have created the environment driving growth in the E&S market,” said Jerry Theodorou, a Vice-President, Insurance Research at Conning. “Admitted insurers are cutting back on the capacity they offer, non-renewing their complex specialty accounts, and readjusting their underwriting appetite to more standard accounts.  Additionally, Lloyd’s syndicates have responded to poor underwriting results by withdrawing capacity for the U.S. E&S market.”


The Conning study, “Surplus Lines Insurance:  A Booming U.S. Market” examines the drivers of the growing E&S U.S. market, including factors such as distribution, technology, and M&A, along with a review of E&S insurer peer group comparisons, and assessments of the various successful strategies employed by E&S writers.  The strategic study also provides a primer on the E&S market, E&S premium by state, and Conning’s Surplus Lines index.


“Now is the moment for which E&S insurers have been waiting. The U.S. E&S market is expanding at a mid-teens rate, with growth in both liability and property lines.” said Steve Webersen, Head of Insurance Research at Conning. “Solid profitability should follow this growth, benefiting those insurance groups where E&S comprises a major portion of their business. While large multi-line groups control the largest E&S insurers, the market also has dozens of stand-alone specialists. The big question is how long will this boom last?”

Surplus Lines Insurance:  A Booming U.S. Market” 
is available for purchase from Conning by calling (888) 707-1177 or by clicking here. For more information on Conning studies, please visit


About Conning

Conning (www.conning.comis a leading investment management firm with a long history of serving the insurance industry. Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.




Matt Sternat