The Real Deal Miami

Edison Insurance taken over

January 05, 2010 11:01AM

The shaky state of small property insurers has prompted Florida Peninsula Holdings to get approval from Florida regulators to acquire St. Petersburg-based Edison Insurance Group, which operates Edison Insurance Company and Edison Insurance Underwriters. The two property insurers have more than 25,000 policies, which will become Florida Peninsula policies. Edison policy holders will sustain their own agent network and policy numbers. The deal was approved by the state on Dec. 31. [Miami Herald]