Lighthouse Property Insurance has concluded its previously announced merger with sister carrier Prepared Insurance Company to enter the Florida homeowners market.
The unified company has over $200m of gross written premium.
Go deeper with GlobalData
Prior to the merger, Lighthouse offered property and casualty insurance policies in Louisiana, Texas, North Carolina, and South Carolina. The deal expands the company’s geographic footprint across the Southeast.
Lighthouse also owns Lighthouse Excalibur Insurance Company, a Louisiana domiciled carrier with more than $60m of gross written premium.
Lighthouse president David Howard said: “We’re excited to bring the Lighthouse family to Florida. Now, Prepared joins Lighthouse as one company with over $50 million in policyholder surplus and 170,000 homes insured across the Southeast.”
“Due to the ongoing challenges of Florida’s homeowners insurance industry, now is the perfect time for a financially strong and trusted carrier to enter the market. In a state with 20 million people, carriers in Florida will enjoy an opportunity to write very good business.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAs part of the terms of the agreement, Prepared Insurance has taken the Lighthouse Insurance name while it’s existing servicing, underwriting, and claims process for Florida policies remain unchanged.
