FedNat gains approval for $51m Maison deal
US insurer FedNat Holding Company has secured regulator approval to close the acquisition of Maison Insurance Company and other homeowners insurance entities from 1347 Property Insurance Holdings (1347 PIH) in a $51 million deal.
The approval is granted by the Florida Office of Insurance Regulation and the Louisiana Department of Insurance.
FedNat announced in February 2019 that it will acquire all 1347 PIH’s homeowners insurance operations, consisting of Maison Insurance Company, Maison Managers, and ClaimCor.
Maison is a property and casualty insurer focused on the coastal homeowners’ markets in Louisiana and Texas, with additional operations in Florida.
FedNat said the acquisition is expected to close following November 30, 2019, which is the end of the 2019 hurricane season, subject to satisfaction of all closing conditions.
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