The Florida Office of Insurance Regulation (FOIR) has signed a consent order that allows underwriters at the Bermuda-based Validus Reinsurance to operate in Florida as a reinsurer.The official stamp of approval makes Validus the 20th non-US company to offer reinsurance in the state — the majority of those are Bermuda companies.Florida has not had a hurricane in six years, since Wilma hit in October 2005. Over the last six months, reinsurers have created additional capacity for the Florida homeowners insurance market and seek to capitalise on demand in the state and rising rates for the Florida hurricane season.The State of Florida allows ceding insurance companies to receive full credit on their financial statements for reinsurance purchased from non-US-based reinsurers that are highly rated and financially sound.Validus reported capital and surplus of $3.3 billion on its year-end financial statement, exceeding Florida’s $250 million requirement, according to the FOIR.The company is the 18th company from Bermuda. The other two foreign companies are from Germany and the United Kingdom.Other eligible reinsurers in Florida include: Ace Tempest Reinsurance Ltd; Allied World Assurance Company Ltd; Alterra Bermuda Limited; Arch Reinsurance Ltd; Ariel Reinsurance Company Ltd; Aspen Insurance Limited; Axis Specialty Limited; DaVinci Reinsurance Ltd; Endurance Specialty Insurance, Ltd; Hannover Re (Bermuda) Ltd; Hannover Ruckversicherung AG; Hiscox Insurance Company (Bermuda) Limited; Montpelier Reinsurance Ltd; Partner Reinsurance Company Ltd; Platinum Underwriters Bermuda Ltd; Renaissance Reinsurance Ltd; Tokio Millennium Re Ltd; Underwriters at Lloyds, London; and XL Re Ltd.