Florida E&S Market Hits $1.6B in July
• 2025 Premium Reaches $11.5B Year-to-Date •

As the second quarter closes and we move into Q3, Florida’s surplus lines market continues to show signs of softening. July premium totaled $1.6B—up 1% from July 2024. Policy count was also up with more than 174K filings—a 27% increase over the same period last year—driving down the average cost per policy to $9,352. 

YEAR-TO-DATE SNAPSHOT

Looking beyond July’s monthly performance, year-to-date figures offer a broader view of market activity in 2025. So far this year, surplus lines premium has reached $11.5B—up 2% compared to the same period in 2024. While premium growth continues to slow, policy volume is accelerating. Filings are up 12% year-over-year, rising from 914,446 to 1,028,540 policies. As a result, the average cost per policy has decreased 9%, from $12,402 to $11,226.

MONTHLY PREMIUM BREAKDOWN

MONTHLY POLICY COUNT BREAKDOWN

PREMIUM TREND | JULY 2024 - JULY 2025

POLICY COUNT TREND | JULY 2024 - JULY 2025

NEW BUSINESS AND RENEWALS

JULY 2024 - JULY 2025

In July, renewals made up 60% of surplus lines filings, compared to 40% new business—up slightly from a 57/43 split in July 2024. This seasonal renewal pattern remains consistent with mid-year activity.

PERFORMANCE BY LINE OF COVERAGE

Further evidence of market softening can be seen across the top 10 lines of business. Most reported year-over-year premium declines, with the exception of Commercial General Liability and Commercial Umbrella Liability, which posted continued growth.

TOP 10 LINES OF BUSINESS | JULY

• Commercial Property remained the market’s largest line by premium and policy count. July reported $564.9M in premium—a 13% decrease—across 34,847 policies, representing a 99% increase in volume.
• Commercial General Liability showed a 10% increase in premium, reaching $216.5M, while policy count held steady at 20,604.
• Homeowners (HO-3) posted notable growth, with $102.4M in premium (up 45%) and 22,276 policies (up 79%). The average cost per policy fell 19% to $4,595.
• Windstorm and/or Hail – Commercial saw a 125% increase in policy count, totaling 2,792, while premium climbed 24% to $42.9M. The average cost per policy dropped 45% to $15,359.
• Cyber Liability maintained its top 10 position with July premium at $33.2M (up 41%) across 3,071 policies (up 43%). The average cost per policy dipped just 1%, landing at $10,826.

LOOKING AHEAD

As we monitor the second half of 2025, indicators suggest a continued softening trend. Be on the lookout for our upcoming August Market Insight, where we’ll take a deeper dive into predictive analytics to forecast how 2025 may close out—both in terms of total premium and policy count, as well as performance across the top lines of business.

www.fslso.com

Have questions? Contact us at 800.562.4496, option 1 or email agent.services@fslso.com.