We’re pleased to present Gallagher Re’s Florida Market Watch Report for 2023 Q1.

The selected insurance companies derive a majority of their premiums from the Florida personal property insurance market. The data is sourced from the National Association of Insurance Commissioners (NAIC) statutory statements as provided by S&P Global Market Intelligence. Following are summaries of key findings and relevant notes from the reports.

Key findings for Q1 2023

  • All subgroups experienced an increase in direct premium written (DPW) in comparison to 2022 Q1.
  • Florida specialists reported a net underwriting loss and an after-tax net loss.
  • For the market overall, the policyholders’ surplus increased by 4.2% to $10.1 billion in 2023 Q1 compared to 2022 YE.