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Lakewood Ranch insurance firm sold to coastal risk specialty insurer

By Elizabeth King
| 4:15 p.m. April 19, 2024
| 0 Free Articles Remaining!

A property insurer in Lakewood Ranch that has a large footprint in Hawaii and other coastal areas is being sold.

Manatee-Sarasota

A Lakewood Ranch property and casualty insurance company is being sold to a newly formed coastal risk specialty insurer.

Omaha, Nebraska-based Applied Underwriters, which owns Centauri Insurance, announced Thursday it would be selling the company to Lilypad Insurance. Lilypad is a subsidiary of Arbol Inc., which provides a climate-risk coverage platform.

Centauri Insurance, headquartered on Lakewood Ranch Boulevard and founded in 2006, provides catastrophe coverage and financial protection to clients in Alabama, Florida, Hawaii, Louisiana, Massachusetts, Mississippi, North Carolina, Oklahoma, South Carolina and Texas, with a particularly large footprint in Hawaii, according to a statement.

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author

Elizabeth King

Elizabeth is a business news reporter with the Business Observer, covering primarily Sarasota-Bradenton, in addition to other parts of the region. A graduate of Johns Hopkins University, she previously covered hyperlocal news in Maryland for Patch for 12 years. Now she lives in Sarasota County.