Florida’s beleaguered property insurance market is starting to look normal again, with the top insurers in the state showing a collective profit for the first time in seven years, S&P Global Market Intelligence reported this week.
The turnaround for 2023 was due in part to heightened investment income, along with improved underwriting losses aided by no major hurricane losses in the state last year, said the report by the analytics firm.
Investment income for the top 50 Florida insurers topped $346 million – more than the two previous years combined.
“On the underwriting side of