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It is understood that the company aims to launch in Q3 or Q4 of this year.
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AM Best recently downgraded the insurer after Gallatin Point acquired a majority stake last January.
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The body’s budget committee is again pressing Citizens over solvency concerns.
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May and June takeout requests for Citizens are exceeding expectations.
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Overall rate expectations are flattish to single digit increases.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The closing of the Interboro sell-off was postponed to nearer the end of the year.
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Sources said preparations for a 2024 IPO were halted, but work could resume later this year.
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The downgrades reflect Gallatin Point’s recent acquisition of a majority stake in TRUE.
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A hearing with the Florida Office of Insurance is scheduled for February 21.
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The increase in limit reflects the carrier’s growing exposure.
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The company is aiming for a 2024 Florida rollout, offering HO-3 and DP-3 policies.