{"id":8869,"date":"2026-05-20T18:02:00","date_gmt":"2026-05-20T16:02:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=c3f2be925328d5eb2f670717d6f1f598"},"modified":"2026-05-20T18:02:00","modified_gmt":"2026-05-20T16:02:00","slug":"bests-special-report-florida-reforms-prove-positive-as-underwriting-gains-increase-sharply-softening-reinsurance-pricing-may-sustain-market-momentum","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=8869","title":{"rendered":"Best\u2019s Special Report: Florida Reforms Prove Positive as Underwriting Gains Increase Sharply; Softening Reinsurance Pricing May Sustain Market Momentum"},"content":{"rendered":"

OLDWICK, N.J.--(BUSINESS WIRE)--#insurance<\/a>--Florida-domiciled personal property specialist companies recorded nearly $1 billion in underwriting gains, following a $132 million underwriting loss just two years ago, highlighting market stabilization and increasingly manageable market conditions, according to a new AM Best<\/b> report.<\/p><\/a><\/a>

\nFor its Best\u2019s Market Segment Report<\/i>, \u201cFlorida Reforms Are a Positive Development; Underwriting Discipline Remains Essential,\u201d AM Best identified 51 Florida-domiciled insurance carriers that predominately underwrite personal property in the state. This composite excludes insurers that are affiliated with large national carriers, as well as Citizens Property Insurance Corporation (Citizens), and include companies that have become financially impaired or merged in recent years to appropriately reflect back-year data.<\/p>

\n\u201cThe improved Florida property insurance landscape reflects reduced litigation and claim solicitation, attracting new writers to the state while allowing existing writers to recover from losses in earlier years and take advantage of more refined pricing sophistication, said Lauren Magro, senior financial analyst, AM Best. \u201cWhile 2024 marked the first year of an underwriting profit for the segment in over a decade, results in 2025 only further extended this trend and benefited from no named hurricanes making landfall.\u201d<\/p>

\nWith Florida being a hurricane-prone state, personal property writers remain reliant on the reinsurance market for capital protection. Modest reinsurance rate reductions were realized at the 2025 midyear renewals, and more pronounced cutbacks are expected at the 2026 midyear renewals. Florida carriers\u2019 ceded reinsurance leverage as a percentage of policyholders\u2019 surplus still sits far above the general personal property industry average. The top 10 active Florida composite companies exhibited an average ceded reinsurance leverage of 562% in 2025 compared with 55% for the U.S. personal property composite average.<\/p>

\n\u201cWith profitability stabilizing and primary carriers\u2019 balance sheets bolstered through sizable capital appreciation, along with stronger underwriting guidelines, some negotiating power shifting back toward primary carriers is likely,\u201d said Chris Draghi, director, AM Best. \u201cHowever, prospective reinsurance market trends remain influenced by hurricane activity \u2013 a significant-sized hurricane event that passes through a major city in Florida could change market dynamics.\u201d<\/p>

\nOther takeaways include:<\/p>