Florida US reinsurer losses topped $1bn in 2021 despite no significant storms: AM Best
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Florida US reinsurer losses topped $1bn in 2021 despite no significant storms: AM Best

Aerial drone image of hotels and resorts on St Pete Petersburg Beach Florida USA

Losses paid by US reinsurers to Florida personal property specialist insurers increased more than fourfold in the last three years and exceeded $1bn in 2021, despite limited hurricane activity, according to an AM Best report.

AM Best added that insurers it labels as Florida specialists have continued to cede more premium to reinsurers, reaching over $7bn in 2021.

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