Bradenton insurance firm lays down $35M anchor

BRADENTON — The Florida Office of Insurance Regulation licensed Anchor Property & Casualty Insurance Co., a new firm, to write homeowners insurance in Florida.

The Bradenton-based company, founded this past summer, has also been approved to assume around 50,000 policies from Citizens Property Insurance Corp., according to a release. Those policies will shift to Anchor in January.

Anchor, the release states, will open business with a $35 million capital investment. Insurance executives Mitch Sattler and Jennifer Pintacuda, who previously ran Lakewood Ranch-based Gulfstream Property and Casualty Insurance Co., are at the helm of Anchor. Sattler is CEO and Pintacuda is CFO.