Mangrove Completes Reinsurance Program
Mangrove Property Insurance Company [Mangrove] recently completed its catastrophe reinsurance program for the 2026-2027 cycle, ensuring its policyholders are protected with the record-setting reinsurance capacity.
A spokesperson said, “Mangrove’s reinsurance program exceeds all regulatory and rating agency requirements, protects Mangrove and its policyholders to the 175-year return period and for events exceeding any in the historical record, and includes all perils coverage as well as subsequent event protection.”
“Mangrove’s all-star team of experienced professionals, our clean balance sheet, underwriting culture and our strong risk management capabilities make us an attractive Florida-based property and casualty company to partner with and to set a new standard of reinsurance protection for our policyholders,” said Mangrove founder and CEO Stephen Weinstein.
“We’re thankful for this record setting level of support from global market reinsurers and appreciate the partnership-oriented approach reflected in our market acceptance,” Weinstein added.
The spokesperson said, “Mangrove received substantial capacity from several of the largest and strongest reinsurers in the world, including more than 30 individual reinsurers that supported their program. This level of capacity builds on Mangrove’s vision of market leadership in Florida, their collaborative ethos, and their strategy of being an optimized partner for global reinsurers across market cycles.
“Earlier this week, Mangrove announced the establishment of Grove Re Ltd., a Bermuda-domiciled Class 3A insurance company to support its long-term risk management and underwriting strategy. The formation of Grove Re further reflects Mangrove’s disciplined, data-driven approach to underwriting, its strategic vision to operate for the long-term across market cycles, and the company’s commitment to building a resilient, scalable platform focused on Florida – one of the world’s most significant and complex property insurance markets.”
