Applied Underwriters' Centauri Insurance Acquires Gulfstream Renewals

Latest in series of Applied acquisitions further deepens the Company's penetration in Southern States

News provided by

Feb 22, 2021, 09:00 ET

OMAHA, Neb., Feb. 22, 2021 /PRNewswire/ -- Mr. Steve Menzies, Chairman, Applied Underwriters, today announced that Centauri Insurance has acquired the renewal rights to approximately 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 to further scale the efficiency of its operations. Regulatory approvals were required in Alabama, Louisiana and South Carolina.

According to Mr. 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: "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. We are confident in the success of the new formula that enables Centauri, with its long-standing market knowledge, to renew these many millions of dollars of Gulfstream premiums working together with Applied's experienced insurance professionals."

Ron "Nate" Natherson, President of Gulfstream, stated: "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. 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."

For further information contact: Ryan Gerding, Public Relations, at +1 (913) 602-8531 or at [email protected].

About Centauri Insurance (www.centauriinsurance.com)

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.

About Applied Underwriters (www.auw.com)

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.

About Gulfstream Property and Casualty Insurance (www.gspcic.com)

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. The company has consistently earned a Financial Stability Rating^® (FSR) of "A Exceptional" by independent rating agency Demotech.

SOURCE Applied Underwriters