Lighthouse Management LLC has raised $65 million in capital, the company announced.
The senior notes, issued in a private placement, will be used to refinance debt held by the group’s managing general agent, provide growth funding for the affiliated carrier, Lighthouse Property Insurance Corp., and expand distribution to third-party carriers.
TigerRisk Capital Markets and Advisory acted as placement agent in the transaction. The Foley and Lardner firm served as legal counsel.
Established in 2008, the Lighthouse group includes an MGA and two insurance carriers focused on homeowners’ insurance in the Southeast. Lighthouse Management is licensed to write business in Louisiana, Texas, Florida, Mississippi, South Carolina, and North Carolina. The company said in a news release that it expects to write about $220 million of direct premium in 2021, through its network of 3,000 independent agencies.
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