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Rescue Efforts Fell Short for Gulfstream Insurance Plagued by worsening financial issues and under pressure from credit rating agencies, Gulfstream Property and Casualty Insurance Co. entered the first months of 2021 determined to increase its capital contributions. The Sarasota-based personal residential insurer had just come off a bleak 2020 calendar year and was struggling to maintain the minimum $10 million surplus. Gulfstream believed it had finally found an adequate investor by early 2021. The suitor had approximately $3 billion in assets and was deep in due diligence with the Sarasota-based residential insurer when disaster struck. Severe winter storms hit the south-central region, where the company has thousands of policies in Texas and Louisiana. Gulfstream, which also operates in Florida, Alabama, Mississippi and South Carolina, was forced to demand higher required contributions. The suitor pulled out.

United statesSouth carolinaJoseph petrelliBarry gilwayMichael peltierFlorida office of insurance regulationCasualty insurance coGulfstream propertyCasualty insurancePresident joseph petrelliFlorida officeInsurance regulationCitizens propertyHurricanes ermaBlack swanஒன்றுபட்டது மாநிலங்களில்