Maison Insurance, a wholly owned subsidiary of specialty insurer 1347 Property Insurance Holdings, has announced the completion of its strategic capital allocation review process, which was started in October 2016.
Among other conclusions, the company decided that it will refine its focus on catastrophe exposure, noting that it will adopt a strategy that responds to specific markets and the dynamics that interplay in these markets. The company also expects to “write business in targeted property insurance markets,” a report was quoted as saying.
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“Our strategic direction leverages the core competencies we’ve cultivated in our organization,” added Doug Racey, president and chief executive, speaking in a Business Wire report. “Building on the specialty focus we have had from the beginning, I am confident our plan will allow us to expand in a focused and profitable manner.”
Meanwhile, the company also announced the election of Larry G. Swets, Jr. as board chairman.
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