Florida Citizens news

Homeowners property insurance rates are falling further in catastrophe exposed Florida and Louisiana, with Citizens Property Insurance Corporation’s Board of Governors recommending rate cuts for most policyholders and the Louisiana Department of Insurance announcing insurers rate decreases.

The CEO of Citizens Property Insurance Corporation has hailed the ongoing recovery of Florida’s property insurance market, explaining that the insurers policy count now stands some 45% lower than its most recent peak and exposure down 43% in just one year, while market conditions suggest this trend will continue.

Florida’s Citizens Property Insurance Corporation has now successfully priced what is the biggest catastrophe bond issuance ever seen, securing a 56% upsized $1.525 billion of reinsurance from its new Everglades Re II Ltd. (Series 2025-1) issuance, Artemis has learned.

With Florida’s Citizens Property Insurance Corporation now aiming to upsize its new catastrophe bond issuance to between $1.4 billion and a record $1.525 billion in size, while its overall target for reinsurance has fallen slightly to $4.49 billion, once in-force cat bonds are added to the new issuance, the cat bond market could make up […]

Florida’s Citizens Property Insurance Corporation is now targeting what could become the largest catastrophe bond issuance ever, as its target has lifted to between $1.4 billion and $1.525 billion of reinsurance from the new Everglades Re II Ltd. (Series 2025-1) issuance, Artemis has learned.

Florida’s Citizens Property Insurance Corporation has now upsized its target for its latest catastrophe bond, increasing it to now seek up to $1.4 billion in named storm reinsurance protection from the Everglades Re II Ltd. (Series 2025-1) issuance, which if secured, would make it the joint second largest cat bond ever, Artemis has learned.

Citizens Property Insurance Corporation is back with a significant initial target to secure at least $975 million in named storm reinsurance protection from a new Everglades Re II Ltd. (Series 2025-1) catastrophe bond, as Florida’s property insurer of last resort looks to expand the capital markets participation in its reinsurance tower this year, Artemis can […]

According to Former Florida Senator Jeff Brandes, the implementation of a quota share model could effectively phase out Florida’s Citizens Property Insurance Corporation as an insurer, and transform the firm into a manager and distributor of risk, achieving the goal of “Citizen Zero.”

Florida’s Citizens Property Insurance Corporation, the state’s insurer of last resort, is aiming to purchase $2.94 billion of new traditional reinsurance and catastrophe bonds for the 2025 hurricane season, which would take its total risk transfer to $4.54 billion this year.

Florida’s Citizens Property Insurance Corporation, the state’s insurer of last resort, said that it is encouraged as its policy count falls below 1 million or the first time in two years, with encouraging signs being seen in Florida property insurance market dynamics.