Florida Sunshine: Big Improvement in Combined Ratio in 2025, Gallagher Says
Last year was a much better year for the once-distressed Florida insurance market, as direct written premium rose, policyholder surplus levels climbed, and the average combined ratio for carriers improved by a stunning 22 points, Gallagher Re reported this week.
Gallagher’s Florida Market Watch, crunching numbers from the National Association of Insurance Commissioners and from S&P’s Global Market Intelligence, said the overall weighted average combined ratio, a measure of profitability with lower numbers indicating a better premium to loss ratio, decreased from 104 in 2024 to just under 82 for 2025 for most carriers in the Florida market.