Citizens slashes exposure by 22% as benign hurricane season ends

Florida's state-backed insurer Citizens has reduced its policy
count and exposure by more than a fifth since 1 June as it
continues to aggressively downsize and transfer risk back to the
private market.
In a statement today (2 December) marking the official end of
the 2014 hurricane season, Citizens said that it was benefiting
from a property insurance market that has stabilized through a
nine-year respite from major storms.
It said that since 1 June it has slashed its policy...