The number of Citizens Property Insurance policies in Florida changed little last week

homeowner's insurance — Property insurance. by designer481 via iStock for WMNF News.

The number of policies in the state’s Citizens Property Insurance Corp. was virtually unchanged last week.

Citizens had 939,376 policies as of Friday, up from 938,845 policies a week earlier, according to data posted on its website.

Citizens, which was created as an insurer of last resort, grew to 1.4 million policies in 2023 amid financial problems in the private market, but its policy count has decreased because of what is known as a “depopulation” program and improvements in the overall market.

The depopulation program is designed to shift policies to private insurers.

Citizens President and CEO Tim Cerio told lawmakers this month that Citizens forecasts it will end 2025 with about 771,000 policies.

State Insurance Commissioner Michael Yaworsky on Monday touted approval of the newly formed Mangrove Property Insurance Co. to provide coverage in Florida.

Yaworsky also has approved a proposal by Mangrove to assume up to 81,040 Citizens policies in April as part of the depopulation program.