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FedNat Voluntarily Seeks Chapter 11 Bankruptcy Protections, Explores ‘Strategic Alternatives’
Shares of FedNat Holding Co. (NASDAQ: FNHC) traded on the afternoon of Dec. 12 at $0.02, up 90% from the previous close. (By Terrence Dopp, senior associate editor, Best's Review: ...
Source: BestWire   Date: December 12, 2022
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FedNat Plans Voluntary Nasdaq Delisting, Doubting Ability to Regain Compliance
Commission on or about Nov. 7, FedNat said in a statement. The delisting would take effect 10 days later. The company was in noncompliance with Nasdaq listing rules because of an ...
Source: BestWire   Date: October 26, 2022
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Florida Regulator Declares FedNat Insurance Insolvent
Form 10-Q and FedNat Holding Co. Chief Executive Officer Michael Braun resigned in July (BestWire, July 26, 2022). Regulators used the tools they had to keep the company afloat, ...
Source: BestWire   Date: September 26, 2022
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FedNat Gets Nasdaq Listing Warning Due to Late Second-Quarter Earnings
Monarch to assume about 78,000 FedNat Insurance Co. policies in Florida, FedNat said earlier (BestWire, July 6, 2022). FedNat and its sister companies were also allowed to shed ...
Source: BestWire   Date: August 22, 2022
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Florida-Based FedNat Delays Second-Quarter Regulatory Filing
...Nat subsidiary Monarch National Insurance Co. The company said in a U.S. Securities and Exchange Commission filing that it would complete the required report within five days of ...
Source: BestWire   Date: August 11, 2022
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FedNat CEO Resigns; Interim Chief Executive Named
Securities and Exchange filing. Braun also resigned as a FedNat director and remains, at the request of the board, a limited consultant to the company through year end. Also in the ...
Source: BestWire   Date: July 26, 2022
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Sure Expands to South Carolina, Assumes 14,000 FedNat Insurance Policies
The risk is reinsured, he added. The MGA expedited the transfer while honoring its commitments to reinsurers, SageSure co-founder and Chief Executive Officer Terry McLean said in a ...
Source: BestWire   Date: July 6, 2022
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Hale General Acquires Majority Stake in Monarch, Partner Eyes More Florida Insurance Expansion
Monarch National Insurance Co. Hale Partnership Capital Management LLC injected $15 million in the company, which helped Monarch to assume about 78,000 FedNat Insurance Co. ...
Source: BestWire   Date: July 6, 2022
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Firm to Invest in FedNat Subsidiary, Take 83,000 of Its Florida Policies
Monarch National Insurance Co. and will also assume 83,000 policies in Florida on June 1 from subsidiary FedNat Insurance Co. The Florida Officer of Insurance Regulation has ...
Source: BestWire   Date: May 24, 2022
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FedNat CFO Resigns in Florida; Nasdaq Gives Notice Over Late First-Quarter Filings
Form 10-Q for the first quarter. Jordan's resignation is effective June 10, the company said in a U.S. Securities and Exchange Commission filing. Erick Fernandez will serve as ...
Source: BestWire   Date: May 18, 2022
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FedNat Holding Group Shedding 68,200 Policies in Florida
Monarch National Insurance Co. will drop 8,400 policies and Maison Insurance Co. will cancel all of its approximately 3,300 residential policies within 45 days. The policies are ...
Source: BestWire   Date: May 16, 2022
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BestWeek: AM Best Webinar Finds Recent D&O Improvements May Stall Amid Market Challenges
White Mountains Insurance Group Ltd. agreed to sell NSM Insurance Group to investment funds affiliated with global investment firm Carlyle Group in a deal that values NSM at $1.78 ...
Source: BestWire   Date: May 13, 2022
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Record-Setting 2020 Hurricane Season Materially Impacted FedNat, Prompted Non-Florida Withdrawal, CEO Says
Executive Officer Michael Braun. FedNat was hurt by claims from storms making landfall outside of Florida, leading to the company's decision to withdraw from other states and ...
Source: BestWire   Date: May 10, 2022
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FedNat CEO Says Regulatory Approval for Downsizing Sought as 1Q Net Loss Widens to $31.3 Million
Chief Executive Officer Michael Braun. The company made progress on shedding business outside of its home state and refocus on Florida, Braun said in a statement, a move that ...
Source: BestWire   Date: May 9, 2022
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FedNat: $29 Million of Estimated First-Quarter Cat Losses Add to Doubtful Future
Form 10-K with the SEC. It has refocused on Florida homeowners, saying in the 10-K that the market improved in recent years due to legislative reform and significant rate increases ...
Source: BestWire   Date: April 28, 2022
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Update: Florida Homeowners Writer FedNat Doubts Solvency in SEC Filing
Securities and Exchange Commission filing. If so, it could join three other Florida-based carriers that went into receivership this year: St. John's Insurance Co., Avatar Property ...
Source: BestWire   Date: April 26, 2022
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Update: Nasdaq Warns Florida Carrier FedNat for Failing to File Annual Report
...Adds comment from FedNat in the third paragraph.) FedNat Holding Co. said it received a delinquency notification letter from Nasdaq because the company failed to file a Form 10-K ...
Source: BestWire   Date: April 4, 2022
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FedNat Narrows Quarterly Loss to $8.6 Million as It Pulls Back in Some States
Florida homeowners market. The company reported a net loss of $8.6 million for the quarter, compared with a loss of $38.1 million in the same period a year earlier, it said. FedNat ...
Source: BestWire   Date: March 3, 2022
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FedNat Reports $12 Million in Fourth-Quarter Cat Losses, Reserve Strengthening
Securities and Exchange Commission filing. Seven notable storms that hit Florida, Texas and Louisiana largely drove the catastrophe weather losses. The company said in November it ...
Source: BestWire   Date: February 23, 2022
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FedNat to Refocus on Florida Market, Exit Louisiana and Texas; 3Q Loss Reaches $24.8 Million
Texas and Louisiana starting next month. "The geographic expansion strategy that FedNat launched in 2013 to write homeowners insurance in coastal markets outside of Florida, and ...
Source: BestWire   Date: November 8, 2021
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