Insight and Intelligence on the London & International Insurance Markets 20 Feb 2018

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Opinion: Beyond Florida

  • David Bull 11 August 2017
  • Heritage chairman and CEO Bruce Lucas says the deal to buy Narragansett Bay for $250mn is a game changer for the Florida-based carrier.

    He believes a valuation of 2.1x book, that for some might look a little rich, will turn out to be a bargain.

    That's because of the huge growth potential unlocked by adding an established northeast US footprint to Heritage's Florida, southeast and Hawaiian presence.

    The deal will also bring significant reinsurance synergies, and as such, Lucas believes...

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