Article ID: 8de8271d07849c481c95b59c14d3a12e2bf45e1c2be602502e4e651d590a0467
Source ID: primary:reinsurancene.ws
Published At: -
Extraction Method: trafilatura
URL: https://www.reinsurancene.ws/florida-market-dpw-rises-1-3-at-year-end-2025-gallagher-re/
Body Text
The overall Florida insurance market reported a 1.3% year-on-year increase in direct premiums written (DPW) to $33.3 billion at year-end 2025, according to Gallagher Re’s Florida Market Watch Report. The report showed that Florida Specialists (excluding ANTSP) saw DPW increase by 13.5% to $22.2 billion compared to year-end 2024, with growth largely driven by PURE and Slide. Meanwhile, the ANTSP subgroup—comprising Allstate (Castle Key companies), Nationwide, Travelers (First Floridian), State Farm, and Progressive—reported a 2.6% decline in DPW to $2.6 billion. Citizens, the state’s insurer of last resort, posted a 43.7% decrease to $2.6 billion, driven by a significant rise in depopulation activity. Gallagher Re noted that 46 of the 61 tracked companies recorded an underwriting gain in 2025, up from 39 in 2024. The overall market generated a net underwriting gain of $3 billion, while after-tax net income reached $3.6 billion, primarily driven by Florida Specialists. Florida Specialists recorded a net underwriting gain of $1.2 billion and after-tax net income of $1.4 billion. ANTSP also reported a net underwriting gain of $1.2 billion and after-tax net income of $1.2 billion. The overall weighted-average combined ratio improved to 81.8% at year-end 2025, compared to 104.2% the prior year. The Policyholders’ surplus for the overall market grew 25.7% to $16.4 billion. ANTSP’s surplus increased by 11% to $3.3 billion, while Citizens’ surplus increased by 23.3% to $5.2 billion. Florida Specialists grew by 34.9% to $8 billion. Net increases in surplus included $62.4 million in capital inflows and $114.1 million in surplus notes.
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