Praetorian unit to write surplus property in Fla.Posted On: Apr. 16, 2007 12:00 AM CST
NEW YORK--Praetorian Financial Group said Monday that its Praetorian Specialty Insurance Co. unit received approval from the Florida Office of Insurance Regulation to write surplus lines business in the state.
New York-based Praetorian plans to provide surplus lines capacity for various commercial property risks in Florida, a company spokeswoman said. The capacity will be provided through managing general agents and will serve small and midsize market accounts.
Praetorian did not disclose the amount of capacity it will make available in Florida.
In late 2006, QBE Insurance Group Ltd. agreed to purchase Praetorian Financial Group from Hannover Re. The transaction is pending.