Brown & Riding has launched a national private client practice to help retail agents place high-net-worth personal lines risks in a market where the two forces shaping demand are moving in opposite directions. According to the UBS Global Wealth Report 2026, the U.S. created more than 440,000 new millionaires in 2025 — more than 1,200 per day and nearly half of all new millionaires worldwide — while sanctioned carriers have simultaneously pulled back from high-value personal lines in states where much of that wealth is concentrated. California, Florida and Texas represent the most acute manifestation of that paradox: The three states with the largest HNW populations are also the ones where sanctioned carrier withdrawals have been the most aggressive, pushing affluent individual lines into the surplus market at the same time demand is surging. Personal lines surplus premiums are set to reach $81 billion nationally in 2024, a 12.1% increase according to data from state stamping offices, as approved carriers restrict or exclude coverage in higher-risk markets.
Brown & Riding launches HNW practice versus wealth coverage & more related News Here
