King’s Bay Reinsurance Licensed as Florida MGA

Intendant Holding Corporation of Vedra Beach, Fla. has received a license from the Florida Department of Financial Services for its insurance services subsidiary King’s Bay Insurance Services Inc., to operate as a managing general agency. KBIS, along with King’s Bay Reinsurance Intermediaries Inc. are the principle operating subsidiaries of IHC.

“KBIS is positioned to provide managing general agency services in addition to consulting services to clients that are engaged in start-up situations or the strategic expansion into new opportunities in their target markets,” explained Bruce K. Howson, IHC president and CEO. “Our strategic alliance with a major insurance industry IT provider gives KBIS a core policy management and claims system capability that enables new companies or those seeking to restructure the opportunity to enter the marketplace with a technology advantage over traditional legacy driven company systems.

“Management has over 40 years experience in the property casualty business with a focus in the past 12 years on Florida and the Southeastern States,” Howson said. “Expertise includes both personal and commercial lines management, underwriting and claims experience.”

In a further development, Philip C. Cawley, President of KBRe announced the formal completion of the agreement for all reinsurance support services for KBRe.

“The completion of this agreement allows KBRe to partner with a strong institution that will offer full back office capabilities and support including catastrophe modeling, fiduciary accounting and reinsurance claims handling,” Cawley said. “We are excited about this alliance and look forward to working with our new colleagues.”