Infinity Auto Insurance Company will return more than $46 million in excess profits to Florida policyholders within 60 days, according to a November 2 announcement from the Florida Office of Insurance Regulation.

The refunds cover calendar-accident years 2023, 2024 and 2025.

Under Florida’s excess-profits law, auto insurers must return profits when their combined underwriting gains for the three most recent calendar-accident years exceed anticipated underwriting profit plus 5% of earned premiums for those years.

Commissioner Mike Yaworsky said other auto insurers are approaching the statutory threshold and that additional refund announcements are expected.

Infinity will attempt to locate policyholders whose refund checks are returned. Any remaining unclaimed funds will be handled under Florida’s unclaimed-property law.