Applied Underwriters has announced that its subsidiary, Centauri Insurance, has acquired the renewal rights to about 16,700 policies across Alabama, Louisiana, and South Carolina from Gulfstream Property and Casualty Insurance Company and Gulfstream Select Insurance Company (collectively, “Gulfstream”). The transaction is expected to diversify Centauri’s presence as it expands.
The renewals are strategically positioned both geographically and to include a mix of personal and commercial lines business, said Jamie Sahara, president of Applied Underwriters.
“We are delighted to have completed this transaction, giving Centauri new access points that will deepen our market presence and demonstrate our excellence in service, policy design and claims satisfaction to an increasingly wider audience,” Sahara said. “We are confident in the success of the new formula that enables Centauri, with its longstanding market knowledge, to renew these many millions of dollars of Gulfstream premiums working together with Applied’s experienced insurance professionals.”
“We are very pleased that we can enter into this arrangement with Centauri, as it provides our insureds and agency partners the ability to renew their business with a highly respected insurer who will deliver quality service to them,” said Ron “Nate” Natherson, president of Gulfstream. “To maximize the benefits of this transaction to all parties, we are committed to working in partnership with Centauri to expediently transfer these accounts to Centauri. The work has already begun apace.”
Source : Insurance Business | Insurance News