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Kingsway forms new homeowners insurance company in Louisiana

Kingsway has successfully completed its startup of new property and casualty insurance company, Maison Insurance, in Louisiana.

On behalf of Kingsway, Maison will write wind and hail homeowners coverage in the state after it received certificate of authority from the Louisiana Department of Insurance.

Led by president and chief executive officer Doug Raucy, the new business is expected by Kingsway to be immediately accretive to operating income and cash flow.

In recent years, Raucy also led the successful startup of two similar homeowners insurance.

Kingsway’s president and chief executive officer Larry Swets said that Maison is expected to continue to focus on rebuilding the company’s shareholder value.

The new company has earlier this month also participated in the Louisiana Citizens Property Insurance’s depopulation program.