Reinsurance News
1347 Property Insurance Holdings
1347 PIH reinsurance unit secures first contract
24th November 2020
1347 Property Insurance Holdings, Inc has announced that its recently established reinsurance subsidiary, Fundamental Global Reinsurance, Ltd. (FGRe), has entered into its first reinsurance contract. Earlier this year, 1347 PIH announced plans to change its name to Fundamental Global Financial Corporation as well as forming its own reinsurance subsidiary. The proposed rebrand ... Read the full article
1347 PIH posts Q3 loss, updates on rebrand
24th November 2020
1347 Property Insurance Holdings has released its financial results for the third quarter of 2020, which show a net loss attributable to common shareholders of $9.9 million. The holdings company’s loss is due to the change in fair value of the company’s investment in the common stock of FedNat Holding Company. Its ... Read the full article
1347 PIH appoints Larry Swets as Interim CEO
22nd June 2020
1347 Property Insurance Holdings, Inc. has announced the appointment of current Board Member and former Chairman, Larry G. Swets Jr., as its Interim Chief Executive Officer (CEO), effective immediately. In his new role, Swets will be responsible for leading the firm through the formative stages of launching its diversified holding company ... Read the full article
1347 PIH warns of Q1 net loss as value of FedNat investment declines
14th April 2020
1347 Property Insurance Holdings, Inc. (1347 PIH) has announced that it expects to report a net loss of $8.6 million for the first-quarter of 2020, primarily driven by non-cash losses related to the change in fair value of its investment in FedNat Holding Company. FedNat completed the acquisition of 1347 ... Read the full article
1347 PIH announces name change, reinsurer launch
31st March 2020
1347 Property Insurance Holdings is set to change its name to Fundamental Global Financial Corporation and is in the process of forming its own reinsurance subsidiary, Fundamental Global Reinsurance. Under its new name the company plans to carry out its business via three primary avenues, insurance, asset management, and real estate. Fundamental ... Read the full article
Fednat completes takeover of 1347’s insurance operations
3rd December 2019
Florida-based FedNat Holding Company has successfully completed its acquisition of the homeowners insurance operations 1347 Property Insurance Holdings, Inc. (1347 PIH) for $51 million. The deal, first announced in February 2019, sees FedNat take over Maison Insurance Company, Maison Managers, Inc., and ClaimCor LLC (collectively Maison). Maison is a property and ... Read the full article
1347 Property Insurance expects Harvey impact of below $5mn, net of reinsurance
4th September 2017
Property and casualty insurance holding company, 1347 Property Insurance Holdings, Inc., has announced that it expects pre-tax losses from hurricane Harvey, net of reinsurance, to come in below $5 million. Based on its own analysis, the company has announced that it expects the overall losses to exceed the $5 million per ... Read the full article
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