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Tampa, FL (December 23, 2016) – Safepoint Insurance (Safepoint) today announced the Company has been authorized by the Texas Department of Insurance to write Property business in the state of Texas. Safepoint was launched in November of 2013 to initially write Florida homeowners business and expanded into Louisiana in 2015. The Company has been assigned an AM Best Rating of B and a Financial Stability Rating® of A, Exceptional, from Demotech, Inc., leading providers of financial ratings for insurance companies.
Based in Tampa, FL, Safepoint is led by David Flitman, Chief Executive Officer, who has extensive insurance and reinsurance experience in the coastal markets and beyond. Prior to launching Safepoint, David was based in Bermuda as the Executive Director of Global Property Underwriting and Chief Actuary for Flagstone Reassurance Suisse SA. In this role, David participated on a number of Florida, Louisiana and Texas reinsurance programs.
Initially, Safepoint will participate in the Assumption Reinsurance Depopulation Program of the Texas Windstorm Insurance Association (TWIA) on December 1, 2017. The Company will limit its assumption to policies it intends to write over the long-term. Safepoint is currently evaluating other opportunities in Texas.
Mr. Flitman commented “We are very pleased to add to our Florida and Louisiana businesses and enter the dynamic Texas property insurance market to offer Texans another choice for their insurance. Safepoint is committed to being a long-term partner of the independent insurance agents in Texas by providing high quality service and financial security for their customers.”