FL | The Florida Surplus Lines Service Office (FSLSO) recently analyzed market share trends in Florida’s homeowners’ insurance market. The study examined the performance of admitted insurers, non-admitted insurers, and Citizens Property Insurance Corporation (Citizens).
While there has been interest in the potential growth of the non-admitted market, FSLSO’s data revealed a decrease in homeowners policy counts for the non-admitted market, as well as overall increases in homeowner’s premium across all three sectors. Notably, surplus lines insurance continues to represent the smallest portion of the homeowner’s insurance market in Florida.
While policy count data was only available for the surplus lines sector, homeowners’ policy counts have steadily declined from 283,700 policies in 2019 to 205,900 in 2023.