Florida’s political campaign to shrink its state-backed property insurer is becoming a material source of business for the catastrophe-bond market.
A new AM Best report says property-catastrophe bond issuance reached a record $17.3 billion in the first half of 2026, driven by abundant investor capital, limited recent losses and declining reinsurance prices.
But among the forces behind the record, AM Best singled out Florida insurers participating in the effort to move policies out of Citizens Property Insurance Corporation and into the private market.
