LIGHTHOUSE ACQUIRES PREPARED INSURANCE AND ENTERS FLORIDA MARKET

US property/casualty insurer Lighthouse Property Insurance has acquired Prepared Insurance, enabling it to write business directly in the Florida market. Terms of the deal were not disclosed. Lighthouse controlling shareholder Patrick White had initially acquired a majority stake in Prepared in 2017 and served as chief executive of both companies. Prior to the acquisition, Lighthouse wrote business in Louisiana, Texas and the Carolinas. With Prepared as part of the group, Lighthouse will tally more than $275m in annual gross written premiums and more than $50m in policyholder surplus. The acquisition of Prepared comes 13 months after Lighthouse acquired Louisiana-based Excalibur National Insurance and relaunched it as Lighthouse Excalibur Insurance.