Beverly Rawlings, whose late husband pioneered a multibillion-dollar insurance-adjacent industry, sold her oceanfront Palm Beach condo for $17.2 million in an off-market deal.
It marks one of the island’s most expensive condo sales ever. Records show Rawlings sold the condo at 102 Gulfstream Road to a Delaware entity named for the address. The true buyer is unknown.
Rawlings’ late husband, George Rawlings, founded the Rawlings Group in 1977, according to his obituary. His methods formed the basis of the multibillion-dollar subrogation outsourcing industry, according to a 2018 Associated Press profile that described him as a “bounty hunter” for health insurance companies. Subrogation refers to an insurer’s right to recover money it paid for a loss from the third party that inflicted the loss, such as an at-fault driver.
The company is headquartered in La Grange, Kentucky. The couple founded the Crab Orchard polo team, which thrice won the U.S. Open, according to published reports. They have also been significant supporters of the private Christian university, Liberty University in Lynchburg, Virginia, George Rawling’s obituary shows. Rawlings’ father, Dr. John Rawlings, was a friend and adviser to the school’s founder, Dr. Jerry Falwell.
The Rawlings split their time between the Palm Beach condo and a 180-acre farm in Oldham County, Kentucky, until he died in 2023, according to published reports. Records show in 2016 they sold an equestrian estate in Wellington to former Dodgers owner Frank McCourt for $20 million.
They bought the Palm Beach unit for $13.9 million in 2016, property records show. It was built in 2009, and spans 4,900 square feet, with four bedrooms, four bathrooms and two half-bathrooms.
It was previously listed asking $19.5 million before Beverly Rawlings pulled the listing in May, Zillow shows.
The off-market deal makes it the third-most expensive sale ever in Palm Beach. The record is held by billionaire Robert Kraft’s $23.8 million penthouse purchase in 2022. In 2023, car dealer Terry Taylor dropped $18 million on the 9,900-square-foot condo in the Tiffany & Co. building on Worth Avenue.