No.assessor.100521.0001.jpg

A home was heavily damaged by a fallen oak tree during Hurricane Ida. FedNat Holding Company, the fourth largest homeowners insurance company in Louisiana, said it will stop renewing policies in January because of the hurricane related losses it experienced over the past 15 months. (Staff photo by David Grunfeld, NOLA.com | The Times-Picayune | The New Orleans Advocate)

FedNat Holding Company, the fourth largest homeowners insurance company in Louisiana, said it will stop renewing policies because of the hurricane related losses it experienced over the past 15 months.

FedNat said it is focusing on the Florida market and leaving Louisiana and Texas, said Michael H. Braun, the company’s chief executive officer. “The impact of these significant catastrophe weather events has put a strain on FedNat’s capital position and further action is now appropriate,” Braun said in a statement. “We are therefore exiting the non-Florida markets and refocusing on the improving Florida homeowners market.”

The company will stop renewing policies on their anniversary dates, beginning in January. 

FedNat has $81.3 million in premiums between its FedNat Insurance Company and Maison Insurance businesses, according to figures from the Louisiana Department of Insurance.

This story has been changed since it was first published to correct the value of premiums FedNat and Maison Insurance have written in Louisiana. 


Email Timothy Boone at tboone@theadvocate.com.