Lighthouse Property Insurance Corp. has acquired Excalibur National Insurance Co., based in Louisiana.
Lighthouse CEO and President Patrick White said in a press release that the acquisition “reaffirms Lighthouse’s commitment to the Louisiana market, where we have served independent agents and policyholders for the past 11 years,”
Excalibur is a Louisiana domiciled property insurance carrier with approximately $20 million of mostly homeowners’ premium throughout Southern Louisiana. The integration of the two companies will take several months. Excalibur will be a wholly owned subsidiary of Lighthouse and will continue to provide competitive product offerings to Louisiana homeowners.
Combined, Lighthouse and Excalibur write approximately $75 million of homeowners’ premium in Louisiana as part of a $265 million consolidated book, including affiliated carrier Prepared Insurance Company, across Florida, Texas, Louisiana, North Carolina, and South Carolina.
Propel Advisory Group Inc. served as financial advisor for Lighthouse in the transaction.
Source: Lighthouse Property Insurance Corp. (Lighthouse)
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