Florida insurance and reinsurance market news

Given that early forecasts suggest a slightly below-average Atlantic hurricane season for 2026, Fitch Ratings has indicated that U.S. property and casualty (P&C) re/insurers are well positioned to absorb losses from a large event, with the agency noting that Florida remains a key focus, even though market conditions have improved for protection buyers heading into […]

Allstate, the US primary insurance giant, has added more catastrophe bond protection, by successfully securing an additional $30 million of multi-peril reinsurance which we believe to be for Florida from a privately placed zero-coupon Sanders Re III Ltd. (Series 2026-3) notes issuance, Artemis can report.

HCI Group, Inc., the insurance holding company, has completed its catastrophe reinsurance programs for the 2026-2027 treaty year, securing a meaningful $4.06 billion in aggregate excess of loss (XoL) limit for the period, marking a 16% increase from the prior treaty year.

Universal Insurance Holdings, Inc. once again expanded its reinsurance limit at the 2026 mid-year renewal, lifting the top of the reinsurance tower to $2.623 billion, with institutional capital from ILS manager Nephila Capital a key participant in the renewal again for the insurer.

Property catastrophe reinsurance pricing has declined by 15% to 20% across many layers of the tower at the June 1st renewals according to broker Guy Carpenter, who highlighted improved property insurance market conditions, strong reinsurer balance-sheets and rising investor appetite as key drivers of the renewal dynamics.

Allstate has now secured its targeted $200 million four year source of Florida catastrophe reinsurance protection with its latest catastrophe bond, pricing the notes from this Sanders Re III Ltd. (Series 2026-2) issuance below guidance, Artemis understands.

Patriot Select Property and Casualty Insurance Company, a Florida based insurer, has announced the completion of its 2026 catastrophe reinsurance renewal, with $220 million of private market limit, $90 million of FHCF cover and $145 million to protect against second and subsequent events.

Property insurers in the State of Florida are expected to benefit from a more pronounced softening of reinsurance pricing and rates at the June 1 2026 renewals, which may serve to sustain the positive market momentum being seen since the legislative reforms, AM Best has explained.

Allstate is now focused on securing a $200 million four year source of Florida catastrophe reinsurance protection with its latest catastrophe bond, as a three year tranche of notes has now been dropped from this Sanders Re III Ltd. (Series 2026-2) issuance, Artemis has been told.

US primary insurer Allstate has returned to the catastrophe bond market with its typical May sponsorship of a cat bond to provide it with multi-peril Florida collateralized reinsurance protection, initially targeting a $200 million or greater Sanders Re III Ltd. (Series 2026-2) issuance, Artemis understands.