The idea that insurance float is a competitive advantage underestimates the constraints of its nature.
It is not free capital but a contingent liability related to premiums collected before claims payments.
It requires discipline management and constant maintenance of reserves, especially during underwriting stress periods.
In France, under the aegis of the AMF, companies must maintain adequate solvency; an unforeseen major claim, such as a natural disaster, can quickly turn this "advantage" into a heavy burden.
Risk control and the ability to honor commitments are the only aspects that matter.