Artemis ILS NYC 2020

Menu

Reinsurance News

FedNat’s $51m Maison Insurance acquisition gets regulatory nod

14th August 2019 - Author: Charlie Wood

Florida-based FedNat Holding Company has received regulatory approval from the Florida Officer of Insurance Regulation and the Louisiana Department of Insurance to move forward with its acquisition of the homeowners insurance operations of 1347 Property Insurance Holdings.

FedNat HoldingThe previously-announced transaction is expected to close as soon as practicable following November 30, and will see FedNat take control of Maison Insurance Company, Maison Managers, Inc., and ClaimCor LLC (collectively, Maison).

Maison is a property and casualty insurer focused on the coastal homeowners’ markets in Louisiana and Texas, with additional operations in Florida.

For the nine months ended September 30, 2018, Maison reported gross written premium of $70.6 million and total statutory surplus of $35.6 million as of that date.

Michael Braun, FedNat’s Chief Executive Officer, has said that the deal represents a unique opportunity to accelerate the diversification of the companys’ predominantly Florida homeowners’ book into Louisiana and coastal Texas.

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous article:
Regulator applies additional capital requirement to Allianz Australia

After conducting a self-assessment in 2018, Allianz Australia, a division of global re/insurer Allianz, has had an additional $250 million...

Close