After eight years of losses, Florida’s personal property insurance market reported an underwriting profit and a considerable jump in operating income in 2024, the AM Best rating and analytics firm said in a report this week.
The firm examined 45 insurers that have written most of the personal property insurance in the state, including some that went insolvent in recent years but excluding large national carriers. Of those 45, the active Florida insurers, excluding the state-created Citizens Property Insurance Corp., reported a combined ratio of 93.1 for 2024, improved from almost 100 for the prior