Tampa insurer transitions
February 25, 2019 - 1347 Property Insurance Holdings (Nasdaq: PIH) in Tampa is selling its homeowners’ insurance operations to FedNat Holding Co. for $51 million in cash and stock. FedNat also will repay $18 million in debt. 1347 PIH will use the proceeds for a new growth strategy focused on reinsurance, investment management and investment opportunities.