Insurance firm acquiring two others
By BEATRICE E. GARCIA
Florida Peninsula Holdings has won approval from state regulators to acquire Edison Insurance Group, which operates two property insurers with more than 25,000 policies.
The policies from Edison Insurance Company and Edison Insurance Underwriters will become part of Boca Raton-based Florida Peninsula and remain in force.
Edison policyholders will maintain their current independent insurance agents and policy numbers.
Though the acquisition hasn’t closed yet, the Florida Office of Insurance gave it the green light on Dec. 31.
Roger Desjadon, Florida Peninsula’s chief executive, said the acquisition will help expand the company’s distribution and agency network.
Florida Peninsula, founded in 2005, is one of the 10 largest property insurers in the state.
Edison was licensed in 2006 and is based in St. Petersburg.