According to Gallagher Re’s Florida Market Watch report, direct written premiums (DPW) in Florida’s overall insurance market will increase 1.3% year-over-year to $33.3 billion by the end of 2025.
The report shows that Florida Specialists (excluding ANTSP) DPW increased by 13.5% to $22.2 billion compared with the end of 2024, with growth mainly driven by PURE and Slide.
Meanwhile, the ANTSP subgroup consisting of Allstate (Castle Key Company), Nationwide, Travelers (First Florida), State Farm and Progressive reported a 2.6% decline in DPW to $2.6 billion.
Insurance volume at Citizens, the state’s last resort insurer, fell 43.7 percent to $2.6 billion due to a sharp increase in depopulation activity.
Gallagher Re noted that 46 of the 61 companies tracked achieved underwriting gains in 2025, up from 39 in 2024. The overall market generated net underwriting earnings of $3.0 billion, while net income after tax reached $3.6 billion, driven primarily by Florida Specialists.
Florida Specialists’ net underwriting income was $1.2 billion and net profit after tax was $1.4 billion. ANTSP also reported net underwriting earnings of $1.2 billion and net profit after tax of $1.2 billion.
As of the end of 2025, the overall weighted average combined ratio improved to 81.8% from 104.2% in the previous year.
Marketwide policyholder surplus increased 25.7% to $16.4 billion. ANTSP’s earnings increased 11% to $3.3 billion, while Citizens’ earnings increased 23.3% to $5.2 billion. Florida Specialists grew 34.9% to $8 billion. The net increase in earnings included $62.4 million in capital inflows and $114.1 million in earnings notes.