Sarasota-based Centauri serves 10 states, including Massachusetts
OMAHA, Neb. — Mr. Steve Menzies, Chairman, Applied Underwriters, has announced that all regulatory approvals have been realized and that Applied has completed its acquisition of Centauri Specialty Insurance Company and Centauri National Insurance Company. The Centauri companies are based in Sarasota, Florida and serve independent agents and brokers in 10 states:
- North Carolina,
- South Carolina and
The Centauri companies also offer private flood insurance in Florida, Hawaii, and South Carolina. Regulatory approvals were required in Florida, Louisiana, and Texas. The purchase of Centauri is the latest in a string of acquisitions completed by Applied in the US, UK and EU.
According to Mr. Menzies, the acquisition is strategically suited to the Company’s growth plans and allows Centauri to join with the other Applied facilities to take advantage of its exceptional capacities: “We see in Centauri strong market potential, solid leadership and excellent build out possibilities. Even though we just had a record-breaking hurricane season, Centauri came out well, and together, we have made great strides in expanding Centauri’s infrastructure as a competitive advantage.” Mr. Menzies concluded, “We continue on our plans to grow Centauri and to enhance ROE through complementary acquisitions that scale operations efficiently and enhance exposure diversification.”
Mr. Rick Espino, President and CEO of Centauri Insurance, added: “We are delighted that more than nine months of diligent work by all involved has now resulted in bringing this transaction to fruition. Having an experienced and well-capitalized partner such as Applied enables Centauri to build balance sheet strength and to build upon our sound platform to deliver new solutions to our independent agents and brokers.”
More about Centauri Insurance
Centauri Specialty Insurance Company and Centauri National Insurance Company are rated A by Demotech. Formed in 2006 and based in Sarasota, FL, Centauri Insurance is a property and casualty insurance company licensed to serve policyholders in 10 states including Alabama, Florida, Hawaii, Louisiana, Massachusetts, Mississippi, North Carolina, Oklahoma, South Carolina and Texas. Centauri is well known for providing catastrophe coverage and for its ability to provide financial protection to its policyholders, through innovative solutions and personalized service.
More about Applied Underwriters
Applied Underwriters® is a global risk services firm that helps businesses and people manage uncertainty through its business services, insurance, and reinsurance solutions. As a company, Applied Underwriters has been distinguished by its innovative approaches to client care and by its strong financial strength. Applied Underwriters operates widely throughout the US, UK, and EU. Its operational headquarters is located in Omaha, Nebraska.