January 2026 Florida Surplus Lines Results: Premium Down, Policy Activity Largely Stable 

January opened with a year-over-year decline in premium as total written premium for the month reached just over $1.1 billion, down 16 percent from January 2025. Policy count declined more modestly to 122,642 filings, a 4 percent decrease. As premium declined at a faster pace than policy volume, the average cost per policy fell 12 percent, from $10,657 to $9,352. This divergence between premium and policy count remains a defining characteristic of the current market cycle.  

PREMIUM & POLICY BREAKDOWN | JANUARY

January follows an unusually strong December close, when total written premium increased 15 percent year over year. In that context, the year-over-year decline observed in January may reflect, in part, the timing of higher-limit placements and year-end activity completed in December. 

BUSINESS MIX | NEW BUSINESS GAINS SHARE AS PRICING MODERATES

New business activity increased its share of overall filings in January, accounting for 42 percent of total policy count, up from 39 percent one year earlier. Renewals represented the remaining 58 percent of policy activity, down slightly from 61 percent in January 2025. The increase in new business as a share of total filings suggests that placement activity remained active in January, even as overall premium and policy count declined. 

Lines of Business: Targeted Corrections Offset by Volume-Driven Growth 

January line-of-business results show that premium movement is not uniform across the market but instead may reflect targeted repricing. 

TOP 10 LINES OF BUSINESS | JANUARY 2026

Commercial Property continued to experience pronounced adjustments as premium declined 36 percent, from $443.6 million in January 2025 to $283.7 million in January 2026, while policy count fell 29 percent to 17,660 filings. Average cost per policy declined 10 percent, continuing a repricing trend as capacity expands in the line. 

Commercial General Liability experienced a year-over-year decline in both premium and policy count in January, with premium decreasing 12 percent and policy count declining 7 percent. This marks the first instance since April 2025 in which CGL has posted simultaneous declines across both measures. Average cost per policy also decreased 5 percent. 

Homeowners HO-3 policy count continued to grow at a faster pace than premium volume. While premium increased 44 percent, policy count nearly doubled, increasing 99 percent to 13,945 filings. With the growth in volume, the average cost per policy fell 28 percent, from $5,479 to $3,954. For additional context on these trends, including a deeper examination of HO-3 activity, see FSLSO’s most recent Market Insight on the Homeowners Market. 

Ocean Marine–Hull and/or Protection & Indemnity posted a year-over-year premium increase of 234 percent, rising to $19.1 million, while policy count declined by 7 percent. Given the relatively low volume of policies in this line, premium totals can be more sensitive to changes in pricing or limits on a small number of placements. 

Insurer Activity: Redistribution of Risk Continues

Insurer-level results further reinforce a redistribution rather than retreat. Several carriers recorded declines in premium alongside stable or rising policy counts, reflecting lower average premiums per policy. In other cases, policy count growth was paired with sharp reductions in average cost, indicating broader participation across smaller or lower-limit risks. 

Market Perspective 

Taken together, January’s results reflect continued market activity following a strong year-end close. While total premium declined from elevated December levels, policy activity remained relatively stable, and average premiums declined. As the market progresses through 2026, we will continue to monitor and report on Florida’s surplus lines market activity. 

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