European Insurance News & Views Florida renewals / European Motor CPI May update

Research evidence excerpt

European Insurance News & Views Florida renewals / European Motor CPI May update

Global Research

23 June 2026ab

European Insurance News & Views Equities

Europe including UKFlorida renewals / European Motor CPI May

update Financial

Will Hardcastle, CFA

Analyst

will.hardcastle@ubs.com

Headline: Florida renewals / European Motor CPI May update +44-20-7567 9763

Qian Lu

We provide details on Florida Citizens renewal with read-across to listed European Analyst

Reinsurers. We provide latest Motor insurance pricing vs inflation screens for major qian-za.lu@ubs.com

European markets based on May ECB CPI data. +44-20-7567 4657

Nasib Ahmed, FIA

UBS Summary: Analyst

nasib-za.ahmed@ubs.com

+44-20-7568 8231

Florida renewals: Florida’s Citizens Property Insurance Corporation is a state-backed,

Chloe Ryannon-profit insurer that provides property insurance to homeowners and businesses in

Associate Analyst

Florida who cannot get coverage from the private insurance market. sometimes

chloe.ryan@ubs.com

classified as a lender of last resort. It is very important to the Reinsurance market as, +44-20-7567 3505

given the high concentration of hurricane-exposed property risk, it's a very major buyer

of Reinsurance, both in the traditional and catastrophe bond market. The key headlines

to this year's renewals are that: 1. It has bought more limit YoY, increasing c.$700mn to

$2.8bn, and 2. It is suggested the price achieved is roughly 20-30% lower YoY if they

had bought similar coverage then. This is another sign of supply/demand in balance, in

our view, and we also note could incorporate some 'primary' lean on the El Niño

benefits. While the Traditional European Reinsurers only account for a small proportion

of the total coverage, it is still a renewal, and still coming under increased pressure.