Florida E&S Market Hits $2.1B in June | 
2025 Premium Nears $10B Year-to-Date

Florida’s surplus lines market saw a notable increase in June, with premium volume reaching $2.1 billion—up 13% year-over-year compared to June 2024. Policy count also climbed significantly, exceeding 173,000 filings for the month—a 24% increase over the same period last year. 

Despite June’s strong performance, second-quarter results remained relatively flat overall. Total Q2 premium closed at $5.9 billion, representing just a 2% increase year-over-year. This continues the trend of slowed premium growth first observed in the latter half of 2024 and sustained through both Q1 and Q2 of 2025. 

MONTHLY PREMIUM BREAKDOWN

MONTHLY POLICY COUNT BREAKDOWN

Policy count showed a modest acceleration. From Q2 2024 to Q2 2025, policy filings increased 12%—a slightly higher year-over-year growth rate than seen in previous quarters. 

As of June 30, year-to-date surplus lines premium totaled $9.9 billion across 854,423 policies—underscoring steady volume even as the market stabilizes. 

Performance by Line of Coverage 

June’s elevated premium activity was broad-based, with all but two lines of coverage posting positive year-over-year growth. Commercial Property & Commercial General Liability continued to dominate Florida’s surplus lines market, accounting for a significant share of both premium and policy activity. However, the growth trajectories between the two lines are diverging. 

TOP 10 LINES OF BUSINESS | JUNE

Commercial Property remained the largest line of business by both premium and policy volume. June filings totaled 35,148—up 73% from June 2024—while quarterly policy count hit 89,555, reflecting 43% year-over-year growth. Premium for the quarter reached $2.85 billion. 

In contrast, Commercial General Liability saw more modest gains, with June’s policy count up 26% year-over-year and a quarterly total of 69,731 policies, just a 10% increase over Q2 2024. Q2 premium for the line closed at $787 million. 

TOP 10 LINES OF BUSINESS | 2Q25

With Commercial Property filings rising sharply, its average cost per policy dropped to $31,786 in Q2—down -29% from the prior year. Meanwhile, Commercial General Liability's average cost per policy held relatively steady at $11,284, reflecting only a -1% year-over-year decrease. The contrast suggests that while both lines are growing, Commercial Property is experiencing greater competitive pressure or risk dispersion, pulling average premiums lower. 

“We’ve never seen Commercial Property cross 35,000 policies in a single month,” said FSLSO Executive Director Mark Shealy. “The gap between Commercial Property and Commercial General Liability has been widening for several months, and what started as modest growth is now translating into substantial gains—reshaping the market’s composition in both volume and how risk is being priced.” 

Windstorm and/or Hail – Commercial presented a contrasting trend in June. While premium declined -6% year-over-year, policy count rose by 75%. This sharp increase in volume likely reflects typical pre-season positioning by insureds and brokers as hurricane season approaches. The influx in filings, combined with a dip in total premium, drove the average cost per policy down -46% year-over-year to $22,034 for the month. 

The quarterly data mirrors this dynamic: Q2 premium totaled $145 million, down -21% from Q2 2024, while policy count rose 33% to 5,917. As a result, the average cost per policy fell -41% to $24,475. 

Homeowners (HO-3) was fifth in premium volume, reaching $73 million in June—a 6% year-over-year increase. Policy count also rose 11%, totaling 11,749 for the month. However, the quarterly view reveals some softening. 

Homeowners (HO-3) premium for the quarter fell slightly by -2% to $195 million, while policy count rose 7% to 32,773. With premium growth trailing policy volume, the average cost per policy declined -9% from Q2 2024, landing at $5,934. 

Renewals vs. New Business | June & Q2 2025

In June, 58% of surplus lines filings were renewals, while 42% were new business—a slight shift from June 2024’s 55/45 split. The quarterly breakdown reflects a similar pattern, with 59% renewals and 41% new business, up slightly from the prior year. The increase on the renewal side aligns with June’s heavier renewal volume and is consistent with historical seasonality. 

In a stabilizing market, the current mix points to steadiness rather than expansion. Carriers appear more focused on retention, and policyholders are opting to remain in surplus placements—contributing to a balanced distribution between new and renewal business.

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