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Applied Underwriters Inc. has agreed to buy Sarasota, Florida-based insurer Centauri Insurance Co., the Omaha, Nebraska-based insurer announced Friday.
Centauri, which was previously known as Universal Specialty Insurance Co., is a unit of Centauri Specialty Holdings Inc. that offers commercial and personal lines property/casualty coverage.
Terms of deal were not disclosed.
Centauri has operations in several southern states and Hawaii, and reports annual premium of $185 million, with about one-third derived from Florida, Applied Underwriters said in a statement.
Applied Underwriters will immediately buy Centauri’s agency facilities, inject capital into the insurer and purchase the insurance operations, pending regulatory approval, the statement said.