The community of Steinhatchee, Fla., returned to their small town after the Cat. 4 Hurricane Helene battered the West Coast of Florida in September 2024, only to find it devasted by the storm's destructive winds and over ten-foot storm surge. (Credit: Brigida Sanchez/U.S. Army Corps of Engineers, Jacksonville District)
Recent premium increases, surplus growth and legislative changes in Florida have reinsurers well positioned for the 2025 hurricane season, Fitch Ratings reports. According to Fitch’s data, industry policyholders’ surplus grew 6.5% in 2024 to $1.1 trillion, and they predict that surplus will continue to show modest growth in 2025.
The NOAA predicts this year's Atlantic hurricane season, which began June 1 and runs through the end of November, will bring above-average activity. They expect the U.S. will see somewhere between 13 and 19 named storms with 6 to 10 of them becoming hurricanes. Of those hurricanes, they expect somewhere between 3 and 5 of them will become major hurricanes of Category 3 or higher.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
