Arkansas Insurance Commissioner Allen Kerr has granted a Certificate of Authority to a Florida insurer to begin selling residential property insurance products in Arkansas.
Gainesville, Fla.-based Tower Hill Signature Insurance Co. (THS) was formed in 2006 and currently writes residential property products in Texas and Florida.
THS is a wholly-owned subsidiary of Tower Hill Signature Insurance Holdings Inc., which is owned by Tower Hill Insurance Holdings, the largest writer of full coverage, single family homes in Florida. The Tower Hill group is primarily held by majority owner William Shively.
The Tower Hill group includes five insurers writing residential property business with approximately 80 percent in homeowners coverage and 20 percent in mobile home and commercial insurance. THS uses an affiliated managing general agent to write and administer all of its homeowners business.
Tower Hill Prime Insurance Co., the lead company in the group, maintains an A.M. Best rating of A- (excellent).
Tower Hill is the 29th new company Kerr has granted authority to in 2017. Since becoming commissioner in 2015, Kerr has welcomed 64 new companies to Arkansas.
Source: Arkansas Insurance Department
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