S&P Global Market Intelligence analyzed 51 insurance subsidiaries of which 36 reported net losses during Q2 2021. (Photo: Sean Pavone/Adobe Stock) S&P Global Market Intelligence analyzed 51 insurance subsidiaries, of which 36 reported net losses during Q2 2021. (Photo: Sean Pavone/Adobe Stock)

Insurers that provide residential property insurance in the Sunshine State reported aggregate net income losses of $285.3 million during the second quarter of 2021, according to an S&P Global Market Intelligence analysis of regulatory filings. The period represents the fifth-straight quarter of triple-digit aggregate losses for insurers operating in the Florida homeowners market, with year-to-date losses totaling more than $500 million.

The analysis examined 51 insurance subsidiaries and excluded national carriers. Of the carriers analyzed, 36 reported net losses for Q2 2021, with Southern Fidelity Insurance Co. citing the most significant net loss for the quarter at $40.4 million. However, S&P did note that Southern Fidelity was among a small group of companies that received regulatory approval to cancel or non-renew policies this year.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Heather A. Turner

Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].

More from this author



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.