FOR IMMEDIATE RELEASE
AUSTIN, TX. (May 3, 2019) - Lighthouse Property Insurance Corporation has officially acquired Excalibur National Insurance Company in Louisiana. “This acquisition reaffirms Lighthouse’s commitment to the Louisiana market, where we have served independent agents and policyholders for the past 11 years,” says Patrick White, Chief Executive Officer & President, Lighthouse Property Insurance Company.
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.
ABOUT LIGHTHOUSE PROPERTY INSURANCE CORPORATION
Established in 2008, Lighthouse Property Insurance Corporation (Lighthouse) is an admitted property and casualty insurance company authorized to write in North Carolina, South Carolina, Texas, and Louisiana. Lighthouse sells and distributes its policies through an exclusive network of licensed, professional independent agencies. We have been assigned a Financial Stability Rating of A, Exceptional, from Demotech, Inc. For more information about Lighthouse, please visit the company website at https://www.lighthouse.insurance.