Centauri Insurance, a subsidiary of risk services firm Applied Underwriters, has acquired the renewal rights to 16,700 policies from Gulfstream Property and Casualty Insurance Company and Gulfstream Select Insurance Company.
Gulfstream is a Florida-based insurance company that provides homeowners’ insurance.
The polices acquired by Centauri relate to business in Alabama, Louisiana, and South Carolina.
According to Jamie Sahara, President of Applied Underwriters and leader of the company’s corporate development efforts, the renewals are strategically positioned both geographically and to include commercial and personal lines of business.
“We are delighted to have completed this transaction giving Centauri new access points that will deepen our market presence and demonstrate our excellence in service, policy design and claims satisfaction to an increasingly wider audience,” said Sahara.
“We are confident in the success of the new formula that enables Centauri, with its long-standing market knowledge, to renew these many millions of dollars of Gulfstream premiums working together with Applied’s experienced insurance professionals.”
Ron Natherson, President of Gulfstream, also commented: “We are very pleased that we can enter into this arrangement with Centauri as it provides our insureds and agency partners the ability to renew their business with a highly respected insurer who will deliver quality service to them.”
“To maximize the benefits of this transaction to all parties, we are committed to working in partnership with Centauri to expediently transfer these accounts to Centauri. The work has already begun apace.”