Lighthouse enters Florida homeowners market through merger

US-based property and casualty insurance company Lighthouse Property Insurance Corporation has completed its planned merger with sister carrier Prepared Insurance Company.

The combined company allows Lighthouse to write directly in the state of Florida.

Prior to the merger, Lighthouse offered property and casualty insurance policies in Louisiana, Texas, North Carolina, and South Carolina. With the acquisition of Prepared, Lighthouse will begin to offer its portfolio of insurance products to the residents of Florida.

Lighthouse also owns Lighthouse Excalibur Insurance Company, a Louisiana domiciled carrier.

“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,” said David Howard, president of Lighthouse. “In a state with 20 million people, carriers in Florida will enjoy an opportunity to write very good business.”

“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,” he added.

Bruce Bessire, director of sales, added: “Lighthouse now has diversity across five states. That should give both our agents and policyholders the confidence that we are here, and we are here to stay. We’re going to be a good partner today, and a good partner 10 years from now.”