To broaden its distribution and agency network in key geographic areas
Florida Peninsula Holdings, the parent company of Florida Peninsula Insurance Company, has entered into an agreement and received Florida Office of Insurance Regulation consent to acquire Edison Insurance Group, including two of its subsidiaries Edison Insurance Company and Edison Insurance Underwriters.
Under the agreement, more than 25,000 Edison policyholders will become part of Florida Peninsula Insurance Company, and their Edison policies will continue to remain in full force.
The company said that the Edison’s customers will continue to work with their existing independent insurance agents, and current customers of the company are not impacted by the acquisition.
Headquartered in St. Petersburg, Florida, Edison Insurance Company will become part of the Florida Peninsula family of companies.
Roger Desjadon, CEO of Florida Peninsula Insurance, said: “The addition of Edison Insurance Company will broaden our distribution and agency network in key geographic areas and expand the range of products we offer. The acquisition provides synergies that will translate into additional opportunities to grow our customer base and spread risk, resulting in an overall stronger foundation for both companies.
“We intend to provide Edison’s policyholders with the same fast, fair and friendly service our insureds have become accustomed to via our high-end customer and agent support and experienced in-house claims department.”