Highlights include joining the Lady Mayor of London, Dame Susan Langley, for a fireside chat on Florida's insurance market and resiliency efforts
LONDON, UNITED KINGDOM-As part of Florida's ongoing Business Development Mission to the United Kingdom, Governor DeSantis and Insurance Commissioner Mike Yaworsky participated in a series of meetings with leaders in Britain's insurance and reinsurance industry-capped off by joining Lady Mayor Dame Susan Langley for a fireside chat to discuss insurance and reinsurance. These discussions build on the successful and productive partnership established between the U.K. and Florida during the Governor's April 2023 visit-further bolstered by the signing of the Memorandum of Understanding in November 2023 to increase bilateral investment, strengthen business ties, and grow academic partnerships while ensuring economic opportunities that promote resilience and increase opportunity for innovative industries.
"Florida represents the 7th largest insurance market in the world," said Governor Ron DeSantis. "We had great discussions furthering the UK-Florida partnership established in 2023. This partnership has informed Florida's game-changing industry reforms-supporting Florida's insurance market and highlighting the importance of continued collaboration between Florida and the United Kingdom."
"The UK and Florida already enjoy a strong and growing economic relationship and nowhere is that partnership more important than in insurance and reinsurance," said the Lady Mayor of the City of London, Dame Susan Langley. "Today's discussions demonstrate the value of closer collaboration between Florida and the UK as we work together to strengthen resilience, foster innovation and ensure businesses and communities are equipped to navigate an increasingly complex global risk landscape. I was delighted to welcome Governor DeSantis, Commissioner Yaworsky and the Florida delegation to the City of London as we continue to deepen a partnership that supports investment, drives growth and advances solutions to the challenges of the future."
"The symbiotic relationship between Florida and the City of London has evolved over history and has shown great friendship and loyal economic partnership. That collaboration also greatly extends its hand to the insurance landscape. It was an honor to moderate discussions between the Governor and Lady Mayor today to further expound on Florida and the City of London's strong insurance and reinsurance partnership," said Commissioner Mike Yaworsky.
"Thanks to the leadership of Governor Ron DeSantis, Florida's insurance and reinsurance market has seen important reforms that are improving stability and providing relief for Floridians," said FIU President Jeanette M. Nuñez. "Throughout the mission, I have been proud to share that at Florida International University, through assets like our Wall of Wind and the Florida Public Hurricane Loss Model, we are conducting research that simulate hurricane-force winds on buildings and estimate potential losses and generating critical data. This research helps inform the state of Florida as it evaluates policies and informs the Florida Office of Insurance Regulation as it evaluates risk and reviews insurance rates to ensure they are actuarially sound for homeowners."
"The Governor's discussions today with Lady Mayor Langley and leading industry stakeholders are a part of an ongoing partnership established in 2023 that has bolstered Florida's insurance, reinsurance, and financial services industries, attracting leading financial and insurance industry leaders to locate and expand in Florida," said Secretary of Commerce J. Alex Kelly. "Florida offers incredible partners-like Florida International University and the University of Central Florida-for mitigation, insurance, environmental resiliency, water quality and quantity, and testing innovation."
To start the day, Governor DeSantis and Commissioner Yaworsky met with Lloyd's of London leadership to discuss insurance and reinsurance market collaboration between Florida and the U.K., including forging a path toward a research partnership through the Lloyd's lab incubator and the State of Florida.
The Governor and Commissioner were then joined by Florida International University (FIU) President Jeanette Nuñez to discuss Florida's leadership in mitigation and resiliency, including through the Wall of Wind (WOW). FlU is a testbed of innovation and home to the nation's only university-based facility capable of simulating a Category 5 hurricane and testing structures at full scale.
To cap off the day, the Governor and Commissioner joined the Lady Mayor of London and UK insurance leadership to discuss shared economic priorities, strengthen bilateral relationships, and advance collaboration between Florida and the U.K. capital markets.
Additionally, Florida and U.K. delegates met today for the fifth U.K.- Florida MOU Working Group Meeting to discussing aerospace and aviation, emerging technologies, life sciences, and photonics.
