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Parent of Homeowners Choice Insurance to buy another Florida property insurance

HCI Group, the Tampa-based parent of property insurer Homeowners Choice Property & Casualty, has signed a letter of intent to buy Prepared Holdings LLC and its subsidiaries for $27 million.

The deal includes Florida-based Prepared Insurance Co., which covers about 21,500 homeowners statewide with $48 million of annualized premiums.

The deal, announced after the close of market Monday, must be approved by Florida insurance regulators.

Parent of Homeowners Choice Insurance to buy another Florida property insurance 06/23/14 [Last modified: Monday, June 23, 2014 5:15pm]
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