Two insurers have received regulatory approval to assume more than 90,000 policies from Citizens Property Insurance Corp., Florida's state-backed insurer of last resort.
The Florida Office of Insurance Regulation issued orders authorizing the transfers as part of ongoing efforts to shift policies to the private market.
American Integrity Insurance Co. received approval to assume 29,756 residential multiperil policies by April 21. The company had also been authorized, in late 2025, to take on up to 37,804 residential multiperil policies and 433 commercial residential wind-only policies.
Manatee Insurance Exchange, which has participated in previous takeout rounds, was approved to assume up to 60,000 personal residential multiperil policies. The order also permits the company to take on 5,000 personal residential wind-only policies.
Citizens' policy count has continued to decline, reaching levels not seen in recent years. In November, the insurer's book of business fell to 427,097 policies, according to the Florida Association of Insurance Agents. As of Jan. 16, the count stood at 398,861, based on data from Citizens' website.
The pace of decline has been notable. Citizens' policy count stood at 1,407,805 in September 2023, according to Kyle Ulrich, president and CEO of the Florida Association of Insurance Agents.
The drop to 427,097 by November 2025 represents a reduction of about 70% over a period of just over two years, reflecting the cumulative effect of depopulation efforts and private market expansion.
The shrinking policy count has coincided with rate adjustments for the insurer. Citizens was recently approved for an 8.7% statewide average rate decrease, according to regulatory filings.
The depopulation of Citizens has been a long-standing objective for Florida policymakers, who have sought to reduce the state's exposure to catastrophic losses through the insurer.
Industry observers, state officials and regulators have attributed the changes in Florida's insurance market to legislative reforms enacted in recent years. These reforms targeted issues such as litigation costs and claims practices that had contributed to insurer losses and market exits.
