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- National property insurers continue to reduce their exposure to Louisiana and other coastal markets.
- Premiums have skyrocketed in certain states allowing Maison to cherry-pick high margin policies.
- The volatile insurance climate as it pertains to more weather losses has been overrated and biased by Katrina.
- Lower reinsurance rates should be a nice tailwind in the near-to-medium term.
- Specialized local property and casualty insurer in Louisiana.
- Major insurers are withdrawing from hurricane coverage in Louisiana.
- PIH expects to fill the gap.
- As a new property and casualty insurance company PIH has no legacy liabilities.
- PIH, a property and casualty insurance firm with principal offices in Baton Rouge, Louisiana, plans to raise $25.0 million in its upcoming IPO.
- PIH will offer 2.3 million shares at an expected price range of $10-$12 per share.
- We plan to avoid this IPO, as PIH is not making money and the insurance climate in Louisiana is volatile.