A new analysis of property insurance sub-lines of business (LOBs) reveals which of most dramatic profit increases between 2022 and 2024 have come from niche and often overlooked segments, opposed to the largest or most obvious premium pools. The Property & Casualty LOB Performance & Market Trends dashboard identifies which sub-LOBs have grown fastest by percentage in each state, offering MGAs and wholesale brokers a data-driven view of where relative profit momentum is strongest.
The data show that while absolute dollar growth remains concentrated in major lines and populous states, the highest percentage gains are often found in specialist or emerging property coverages. The dashboard enables users to pinpoint these outliers, supporting more informed decisions about market entry, product development, and risk appetite.
Massachusetts posted the highest single-state percentage growth across its property sub-lines, with private flood profits rising a whopping 1,221%, from $1.3 million in 2022 to $17.8 million in 2024. Wisconsin followed with an 852% increase in commercial multiple peril (non-liability portion), while Louisiana and Rhode Island saw ocean marine profits surge by 779% and 476%, respectively. Oregon’s Fire line grew by 663%, rounding out the top five.
These figures highlight the volatility and opportunity in smaller, specialist markets. Private flood, for example, remains a modest share of overall property premium, but has expanded rapidly as carriers and MGAs respond to gaps left by the National Flood Insurance Program. Similarly, ocean marine and commercial multiple peril lines have benefited from shifting risk appetites and supply chain exposures.
Fire insurance was the most frequent leader across states property sub-lines percentage growth, topping the rankings in 20 states. Allied lines led in eight states, while farmowners’ multiple peril was the fastest-growing sub-LOB in five.
At the other end of the spectrum, Georgia’s Inland marine line saw the lowest top-performer growth at just 16%. Maine’s fire line and North Carolina’s ocean marine also posted relatively modest increases, at 37% and 40%, respectively. The median percentage growth across all states and leading sub-LOBs was 113%, with a mean of 188%, underscoring the wide variation in outcomes.
This analysis is based on percentage growth in the top property insurance sub-LOBs by state from 2022 to 2024, as captured in the latest dashboard data. All figures are sourced directly from the Property & Casualty LOB Performance & Market Trends dashboard.
