Florida
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The programme’s total limit this year is down $594mn to $1.36bn. -
There are now 14 new companies writing homeowners’ policies in the state.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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This is up from last year’s $1bn protection for its Florida treaty.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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HCI secured three towers with $3.5bn in XoL coverage.
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The $2.59bn renewal is up 45% from last year.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
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A 20% increase in FHCF retention levels sent cedants to the private market.
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The agency forecasts up to five major hurricanes and 19 named storms.
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As with 2024, pricing pressure has been most acute on top layers.
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