Monday, June 18, 2018
Business

American Strategic Insurance to open new St. Petersburg headquarters

Just in time for hurricane season, one of the fastest growing property insurers in the state is opening its new, three-story headquarters in St. Petersburg.

American Strategic Insurance is planning a ribbon-cutting ceremony for 3 p.m. Tuesday for its 110,000-square foot headquarters at the newly named 1 ASI Way, located near the intersection of Dr. Martin Luther King Jr. Street N and Gandy Boulevard. The complex is part of a 13-acre, $42 million project.

Begun in 1997, ASI now sells insurance in 24 states and the District of Columbia, bringing in nearly $900 million in written premiums. It has about 330 employees, including 275 who work locally.

Unlike many Florida-based insurers that grew mainly by taking policies out of the state-run Citizens Property Insurance, ASI methodically targeted areas across Florida — and outside the state — to sell property insurance. It also struck deals with Geico and Progressive, two top auto insurers that didn't offer property insurance and needed a partner to offer their auto customers a combo, discount package.

Its new building, the first of two slated for the site, is designed to withstand a Category 5 hurricane, the insurer said.

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