Florida Casualty Insurance Co. (FCIC), formerly Ashmere Insurance Co., has been acquired by Applied Underwriters and will become part of Applied’s national and international development plan. The newly re-branded, Ft. Lauderdale-based insurer, licensed in 41 states, will carry North American Casualty’s “A” rating. Regulatory approvals were required in Florida.
Jamie Sahara, president of Applied, said companies like Florida Casualty Insurance Co. fit in its target profile for further development and for integration in the company’s structural architecture and plans, adding that Applied sees “newly re-incarnated FCIC as a sound platform in select, critical areas,” for the company.
Ashmere Insurance Co. is a workers’ compensation specialty insurance company that was founded in 2016. A past affiliate of Patriot National, it was acquired in 2017 by New York-based Bedrock Insurance Group Holdings, along with Deerfield Insurance Holdings after Patriot National underwent bankruptcy and reorganization in 2018.
The FCIC acquisition is the latest in a series of expansion moves undertaken by Applied as it furthers its presence in key national and international markets, according to Jamie Sahara, president of Applied. Most recently, Applied Underwriters acquired Centauri Centauri Specialty Insurance Co. and Centauri National Insurance Co., based in Sarasota, Fla.
Applied Underwriters is a global risk services firm offering business services, insurance and reinsurance products. Applied Underwriters operates widely throughout the US, UK, EU and Middle East. Its operational headquarters is located in Omaha, Nebraska.
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