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.