Reinsurers have gained confidence and returned to the Florida market as a result of recent legislative reforms that have transformed the state’s risk landscape, according to brokers Aon and Gallagher Re in their mid-year renewal reports.
“Florida entered the mid-year renewals on a much sounder footing following recent legal reforms, stronger building codes, better catastrophe modeling and disciplined underwriting actions that have restored confidence in the local insurance market,” said Aon in its report titled “Reinsurance Market Dynamics – Midyear 2025 Renewal.”
“Florida and non-loss affected U.S. regional insurers also experienced broadly positive renewals after several years of challenging conditions, as underlying rating actions and portfolio management, along with legislative reform in Florida, ha…