Florida E&S Market Hits $1.14B for February 2025

The growth that has characterized Florida’s excess and surplus lines market over the past several years appears to be leveling off, according to the latest data. After a period of steadily decreasing growth rates throughout the latter part of 2024, the market has entered a phase of noticeable plateau, culminating in a flat start to 2025.

January's figures signaled a shift, and February 2025 has solidified this trend, revealing a market that is stabilizing rather than expanding at previous rates. This month, the E&S market recorded $1.14 billion in premium written across 125,479 policies.

The $1.14 billion premium figure represents a significant year-over-year decrease measuring -10% when compared to premiums in February 2024. While premiums have seen a notable drop, policy counts have remained relatively stable, showing only a -1% change.

A Look at the Lines of Business

The E&S market saw declines across nearly all lines of business in the top 10, with the exception of HO-3 (Homeowners) and HO-6 (Condo Units).

HO-3 premium volume saw a 1% growth rate increase, policy counts dropped 20%, resulting in a average cost per policy at $7,003 which is up by 27% from February 2024.

HO-6 policies broke into the top 10 in February, with premium volume up 32% and policy counts rising 17%. The average cost per policy reached $2,382, a 14% increase from February 2024.

Also notable was Windstorm and/or Hail coverage, which saw a 32% decline in premium volume compared to February 2024. However, policy counts rose by 41%, bringing the average policy cost down to $18,000 in February 2025—a 52% decrease from the same period last year.

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