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.
