Ronald Chapman, Lighthouse Property Insurance Corporation’s President, to Retire

ORLANDO, Fla. – March 17, 2014 – Lighthouse Property Insurance Corporation (Lighthouse) announced today that Ronald Chapman will retire in July 2014. Mr. Chapman has held the position of President sine the company’s founding in 2008.

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Lighthouse Property Insurance Corporation Booth Earns 3rd Place at 2013 IIABSC Annual Convention

ORLANDO, November 5, 2013 – Lighthouse Property Insurance Corporation (Lighthouse) is pleased to earn the recognition of third place, in the Independent Insurance Agents & Brokers of South Carolina’s (IIABSC) Exhibit Booth Decorating Contest, during the 2013 Annual Convention.

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Lighthouse Property Insurance Corporation Hires New Marketing Representative

ORLANDO, October 16, 2013 – Lighthouse Property Insurance Corporation (Lighthouse) is pleased to announce that Clarke Kissel joined the company as its new Louisiana Marketing Representative, effective October 7, 2013.

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Demotech Affirms the Financial Stability Rating ® Assigned to Lighthouse Property Insurance Corporation

COLUMBUS, Oh, SEPT. 11, 2013, – For the second consecutive year, Lighthouse Property Insurance Corporation is assigned the A, Exceptional rating. This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.

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Lighthouse Property Insurance Corporation Hires New Executive Vice President

ORLANDO, September 5, 2013 – Lighthouse Property Insurance Corporation (Lighthouse) is pleased to announce that Scot Moore joins the company as the new Executive Vice President, effective September 5th, 2013.

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Lighthouse Property Insurance Corporation Hires New Marketing Representative

ORLANDO, April 30, 2013 – Lighthouse Property Insurance Corporation (Lighthouse) is pleased to announce that Lyle Lejuene, joined the company as the new Louisiana Marketing Representative, effective April 25th.

Click HERE to read the full press release.


Lighthouse Property Insurance Corporation Hires New Sales and Marketing Manager

ORLANDO, April 2, 2013 – Lighthouse Property Insurance Corporation (Lighthouse) is pleased to announce that Loren Gallogly, joined the company to expand their sales and marketing efforts throughout their current territory and further develop new state and product opportunities.

Click HERE to read the full press release.


Demotech, Inc. Affirms Financial Stability Rating ® of A, Exceptional to Lighthouse Property Insurance Corporation

COLUMBUS, Oh., SEPT. 24, 2012, – This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE) and realistic pricing.

Click HERE to read the full press release.


Lighthouse Expands to South Carolina’s Homeowners Market

November 16, 2011 | A.M. Best Company, Inc.

Rick Cornejo

Lighthouse Property Insurance Corp. is looking to expand into South Carolina next year.

The Louisiana-domiciled homeowners insurer recently received its certificate of authority to write in South Carolina, and plans to start there in 2012, according to Lighthouse Vice President Michael Toffoli. The company plans to write throughout the state.

“South Carolina offers us the opportunity to create efficiencies in our catastrophe reinsurance purchase as it has little catastrophe correlation with Louisiana,” Toffoli said in an email. “The biggest challenge we see is in opening a new market from scratch. We’re confident we can meet that challenge however.”

Toffoli said there are similarities between its home market of Louisiana and South Carolina, in that both are coastal, catastrophe-exposed states with stable regulatory and legislative environments. “Louisiana’s stable regulatory and legislative environments have helped us to consistently execute our business plan,” he noted.

Lighthouse, founded in 2008, recently acquired the Louisiana homeowners policies of HomeWise Insurance Co. (Best’s News Service, Nov. 14, 2011). More than 11,000 policies, representing in-force premiums of about $25 million were transferred to Lighthouse. Terms of the deal were undisclosed. Starting Jan. 1, the policies will be renewed on Lighthouse paper, according to Lighthouse.

“Our combined book represents an estimated 1.5 to 2% share of the Louisiana homeowners market,” Toffoli said. Lighthouse was the 25th-largest homeowners insurer in Louisiana last year, with a 0.87% market share, according to BestLink.

The company participates in the depopulation program for Louisiana Citizens Property Insurance Corp., the state’s homeowners insurer of last resort. However, Toffoli said Lighthouse was not founded solely for this purpose. “We also actively write in the voluntary market,” he said.

In Louisiana, Lighthouse sees opportunities to expand its product offering to include companion products such as flood and personal umbrella, he added.

Lighthouse had $22.8 million in direct premiums written in 2010, up from $12.8 million in 2009. It had a net loss of $277,000 in 2010, down from a profit of $328,000 a year prior.

The top five writers of homeowners multiperil in South Carolina last year were: Travelers Group, with 36.04% market share; Nationwide Group, with 20.67%; Ace INA Group, with 19.36%; State Farm Group, with 12.02%; and Great American P&C Insurance Group, with 5.65%, according to BestLink.

(By Rick Cornejo, managing editor, BestWeek: rick.cornejo@ambest.com)

Copyright: (c) 2011 A.M. Best Company, Inc.

Source: A.M. Best Company, Inc.