Top E&S Insurance Carriers: Leading Carriers and Market Trends

The top E&S insurance carriers are a crucial part of the excess and surplus insurance market, providing coverage for unique and complex risks that traditional insurers often can't handle.

According to market trends, the E&S insurance market has seen significant growth in recent years, with a projected increase of 10% in 2023.

Many top E&S insurance carriers have expanded their operations to cater to the growing demand for specialized insurance coverage.

Aon's 2022 E&S Market Outlook report highlights the increasing importance of E&S insurance in the US market, with 63% of respondents indicating that E&S insurance is becoming more important to their business.

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The growth of excess and specialty (E&S) insurance lines is a notable trend, with premiums rising for the fifth year in a row. E&S premiums in the U.S. totaled $86.47 billion in 2023.

The top E&S insurance carriers are a mix of established players and newcomers to the market. According to S&P Global, the top 10 insurers writing E&S insurance in 2023 were led by Lexington, with direct written premiums of $8.39 billion.

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Here's a breakdown of the top 10 E&S insurance carriers, based on direct written premiums in 2023:

Note that the list includes only the top 10 carriers, based on direct written premiums in 2023.

According to the Fitch report, the fastest growing carriers in the E&S insurance market are led by Chubb, which saw a 45% increase in premiums written in 2020.

The report highlights that Chubb's growth was driven by its expansion into new markets and its ability to write larger, more complex risks.

In contrast, ACE Limited, another leading carrier, grew at a slower rate of 20% in 2020.

The Fitch report notes that the growth of these carriers is largely due to their strong underwriting performance and ability to attract new business.

The report also highlights that the fastest growing carriers tend to have a strong presence in the US market, where demand for E&S insurance is high.

Chubb's growth in the US market was particularly notable, with the company writing over $1 billion in premiums in 2020 alone.

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Lloyd's is the clear leader in excess and specialty (E&S) insurance, with direct written premiums of $8.39 billion in 2023.

Berkshire is a close second, with $4.96 billion in direct written premiums for the same year.

Fairfax Financial Holdings is another major player, with $4.04 billion in direct written premiums.

Here are the top-10 insurers writing E&S insurance, with their direct written premiums in 2023:

The top-10 insurers account for a significant share of the E&S market, with 52.5% of premiums in 2023 going towards medical professional liability, product liability, and other liability coverages.

Lexington Professional Liability: A&E has been providing comprehensive insurance solutions for the construction industry for over 45 years.

Lexington Insurance is a leading U.S.-based surplus lines insurer, backed by the strength of AIG.

For more than 45 years, Lexington Insurance has been providing comprehensive professional liability insurance solutions for the construction industry.

Lexington works with companies and organizations of all sizes, from Fortune 100 corporations to small and middle market entities.

Lexington is a dedicated partner for architects and engineers, offering tailored insurance solutions that meet their unique needs.

Lexington has a deep understanding of the construction industry and provides innovative insurance solutions that address the complex risks faced by architects and engineers.

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Lexington, an AIG company, has been providing innovative insurance solutions for over 50 years, working with companies of all sizes.

They offer a wide range of insurance products, including property, casualty, healthcare, and professional liability insurance.

Western World provides dedicated wholesale solutions to address the needs of the E&S Contract Bind market.

Berkley is a leading provider of excess and surplus (E&S) lines insurance, offering comprehensive insurance solutions and risk management services.

They can tailor insurance coverage solutions specific to your business, providing responsive and knowledgeable claim service.

Western World's proprietary system supports their experienced team of underwriters, providing solutions to address market needs.

Berkley's insurance businesses can help protect your unique or higher risk business from various exposures, providing better results for your business.

Lexington's strength as an AIG company ensures that their insurance solutions are backed by a powerful organization.

Berkley's comprehensive insurance solutions can help minimize problems and maximize results for your business.

You can use Berkley's Locator to discover which Berkley insurance business may be right for your commercial umbrella and excess liability insurance needs.

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Excess & Specialty Insurers have seen significant growth in recent years, with E&S premiums rising for the fifth year in a row to $86.47 billion in 2023.

The growth rate is slowing down a bit, with a 14.5% increase in 2023 compared to 2022's 20.1% and 2021's 32.3%.

E&S premiums now account for 9.2% of total direct written premiums in the U.S., up from 8.8% in 2022.

Here's a breakdown of the top 10 insurers writing E&S insurance:

Liability coverages like medical professional liability, product liability, and other specific liability coverages make up 52.5% of E&S premiums.