In another measure of the remarkable turnaround of the Florida insurance market, Citizens Property Insurance Corporation’s share of the market has dropped to just 2% for the first time in more than 15 years, Citizens’ president said at a board meeting Tuesday.
As of the end of March 2026, Florida-based carriers held 70% of the market in the state, with “pups”—Florida subsidiaries of national writers—taking 15%, President Tim Cerio’s report explained. Citizens’ share has dropped from a high of 23% in 2011, as 2022 legislative changes have made a difference, rates have stabilized and more than 20 new private carriers have entered the state.
Citizens’ overall policy count stood at 293,772 policies at the end of May, down sharply from a high of 1.4 million in 2023. New personal-lines structures written each year have dropped from 571,375 in 2022 to just 31,871 so far this year. For Citizens’ commercial lines, new buildings written have fallen from a high of almost 35,000 in 2023 to 131 this year.
The commercial lines number may drop further in coming years, partly because of a new commercial clearinghouse mandated by the Florida Legislature this spring.
In a measure of one of the biggest drivers of property insurers’ costs, the share of Citizens’ claims that were litigated in 2025 fell to its lowest level since 2018—to 5%, Cerio’s report noted. The number of lawsuits dropped to 4,353 for Citizens in 2025, marking a steady decline from 2022 when Florida lawmakers clamped limits on one-way attorney fees and ended assignment-of-benefits agreements.
Citizens staff also track litigation for all other insurers in Florida, and the drop in the trend line is even starker: All other insurers had seen lawsuits climb from 18,077 in 2013 to a high of 127,915 in 2021. But by 2025, the number had dropped to 86,618, Cerio’s presentation pointed out.
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