Three new property and casualty (P&C) insurers have entered Florida’s market, according to an announcement last week by Insurance Commissioner Mike Yaworsky.

Builder Reciprocal Insurance Exchange, Frontline Insurance Reciprocal Exchange, and Wingsail Insurance Company entered the market, marking 20 total insurers since Florida’s historic legislative reforms.

Builder Reciprocal Insurance Exchange is based out of Texas and is now approved to write homeowners multi-peril insurance in Florida—focusing on new or newer home communities. The insurer is expected to bring in more than $100 million in capital to the state.

Lake Mary-based Frontline Insurance Reciprocal Exchange is now approved to write insurance in Florida for fire, allied lines, homeowners multi-peril, inland marine, boiler and machinery and other liability.

The Frontline group also provides coastal coverage in Florida, Alabama, Georgia, North Carolina and South Carolina. The reciprocal exchange will provide coverage to all of Florida’s 67 counties.

Wingsail Insurance Company, domiciled in Arizona, is expanding coverage to Florida for homeowners multi-peril insurance. The company is owned by Spinnaker Insurance Company.

The insurers bring in more than $850 million in new capital to the market, Yaworsy’s statement said. The number of condo association writers for wind only policies has also increased since the reforms — from one writer to five in Broward, Miami-Dade and Palm Beach counties.

Florida domestic property companies reported an 83% pooled combined ratio as of year-end 2025, a substantial drop from 94% as of year-end 2024, 99% at year-end 2023, and further improving from 2022’s 109%, 2021’s 110% and 2020’s 116%.

Recent years’ optimal combined ratios signify insurers’ improved operating performance and a market highlighting measurable signs of rebound. Reinsurers are encouraged by Florida’s resurging market and continue to show growing interest in underwriting Florida exposures, he added.

“Florida is becoming more and more of an attractive place to deploy capital. I am proud to announce that since enacting our historic legislative reforms, we now have 20 new companies writing property coverage in our market. The competition is thriving, and the Office of Insurance Regulation encourages consumers to shop around and look into each of these new companies,” Yaworsky added.