Real Estate Developer The St. Joe Co. Forms Watersound Insurance Agency in Florida

January 26, 2021

The St. Joe Company, a Northwest Florida-based real estate developer and asset manager, has formed Watersound Insurance Agency, LLC, a new venture offering personal and commercial insurance services in Northwest Florida. St. Joe has entered into a co-broker agreement with a global industry group to access the resources services of a national insurance brokerage and risk management services firm.

Will Andre, previously of Arthur J. Gallagher & Co. has been hired as the agency manager for Watersound Insurance, which will offer property and casualty insurance brokerage services to both individuals and businesses throughout Northwest Florida. Personal insurance lines include homeowner’s, auto, watercraft, umbrella and others. General liability, workers compensation, inland marine, commercial umbrella and commercial auto are among the commercial lines brokered by the company.

According to Jorge Gonzalez, president and CEO of St. Joe, the formation of Watersound Insurance aligns with St. Joe’s strategy of vertically integrating to create new recurring revenue streams. “Watersound Insurance is positioned to grow locally and regionally and gives the company another opportunity to diversify our portfolio of revenue producing assets,” he said.

Watersound Insurance is now writing policies with new customers.

The St. Joe Company, together with its consolidated subsidiaries, is a real estate development, asset management and operation company. The company owns land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process.

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