Applied Underwriters’ Centauri Insurance Acquires Gulfstream Renewals
Applied Underwriters’ Centauri Insurance has acquired the renewal rights to approximately 16,700 policies across Alabama, Louisiana, and South Carolina from Gulfstream Property and Casualty Insurance Co. and Gulfstream Select Insurance Co. (collectively, Gulfstream).
The transaction is expected to diversify Centauri’s presence as it expands to further scale the efficiency of its operations, the company said. Regulatory approvals were required in Alabama, Louisiana and South Carolina.
Founded in 2004, Gulfstream Insurance, a Sarasota, Florida-based insurance company, provides homeowners’ insurance and related services to customers in Alabama, Florida, Louisiana, South Carolina and Texas.
According to Jamie Sahara, president of Applied Underwriters and leader of the company’s corporate development efforts, the renewals are strategically positioned both geographically and to include commercial and personal lines of business.
Ron “Nate” Natherson, president of Gulfstream, said the acquisition gives its insureds and agency partners the ability to renew their business with Centauri.
“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,” he said.
Applied Underwriters announced last year it would acquire Florida-based Centauri Specialty Insurance Co. and Centauri National Insurance Co., and the acquisition was completed earlier this month. Terms were not disclosed.
Formed in 2006 and based in Sarasota, Fla., 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.
Applied Underwriters operates widely throughout the U.S., U.K. and EU. Its operational headquarters is located in Omaha, Nebraska.