Palomar Holdings Acquires Renewal Rights for Hawaii Residential Hurricane Business from GeoVera

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Palomar Holdings Obtains Revival Civil Liberties for Hawaii Residential Storm Service from GeoVera

Palomar Holdings Inc. has actually concurred authorized onto to a contract in between Palomar Specialized Insurance Coverage Co., a wholly-owned subsidiary of Palomar, and also GeoVera Holdings Inc., to obtain the revival legal rights to GeoVera’s Hawaii household storm plans.

The purchase is anticipated to more strengthen Palomar’s visibility in Hawaii, a market that the firm has actually offered because 2015.

With a continuous collaboration in between Palomar and also GeoVera, Palomar Specialized Insurance policy Co. will certainly release substitute deals at the time of plan revival to all insurance holders of household storm insurance coverage released by GeoVera Insurance policy Co. and also Coastal Select Insurance Coverage Co., which are both leaving the Hawaii market.

TigerRisk Resources Markets & Advisory is functioning as special monetary consultant and also McDermott Will & Emery LLP is functioning as lawful consultant to GeoVera. DLA Piper LLP is functioning as lawful consultant to Palomar.

Palomar Holdings is the holding firm of subsidiaries Palomar Specialized Insurance policy Co., Palomar Specialized Reinsurance Firm Bermuda Ltd., Palomar Insurance Coverage Firm Inc. and also Palomar Surplus and also excess Insurance policy Co.

GeoVera Insurance Coverage Holdings, the moms and dad of GeoVera Insurance policy Co. and also Coastal Select Insurance Coverage Co., is a supplier of specialized home insurance policy items, concentrated on disaster revealed home in the property owners and also household quake markets, operating both a confessed and also excess lines basis. GeoVera is headquartered in Fairfield, Calif.

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