SAN DIEGO, Feb. 2, 2021 /PRNewswire/ -- K2 Insurance Services, LLC ("K2"), an insurance services holding company, and New York based private equity firm Lee Equity Partners ("Lee"), announced today the formation of American Mobile Insurance Exchange ("AMIE"), a new reciprocal exchange that will protect mobile homeowners in Florida.
AMIE is headquartered in St Petersburg, Florida and has received additional financial support from Hudson Structured Capital Management Ltd., doing its re/insurance business as HSCM Bermuda (“HSCM”), a leading asset manager focused on the re/insurance industry. AMIE has earned a Financial Stability Rating® (“FSR”) of A Exceptional from Demotech. Inc., a leading rating agency that assigns FSRs and monitors insurance companies for financial stability.
AMIE will focus on writing mobile homeowners and mobile homeowner dwelling fire insurance coverages for manufactured homeowners, largely in Adult Parks, across the State of Florida. “AMIE is focused on providing superior protection and exceptional customer service to its subscribers (policyholders) in Florida,” said Jeff LeGare, President of American Mobile Risk Management, LLC (“AMRM”) and former consultant assisting K2 with the formation of AMIE. “With strong financial backing, comprehensive coverage offerings and a commitment to providing an exceptional customer experience, AMIE will offer affordable insurance solutions to a market that historically has been underserved.”
LeGare’s experience in the Florida property market covers almost 30 years and for most of his career, he has focused on catastrophe exposed property markets like Florida, developing a keen awareness of the issues that face companies that are focused on writing personal and commercial lines property insurance.