FedNat Announces $15 Million Investment by Hale Partnership in Monarch National Insurance Company
Following completion of the Hale transaction, which has been approved by the
Policy servicing and claims administration with respect to the policies transferred to MNIC will continue to be performed by a wholly owned subsidiary of
About the Company
Factors that could affect forward-looking statements
This press release contains statements that may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally may be identified by the use of forward-looking terminology such as "anticipate," "believe," "budget," "contemplate," "continue," "could," "envision," "estimate," "expect," "forecast," "guidance," "indicate," "intend," "may," "might," "outlook," "plan," "possibly," "potential," "predict," "probably," "pro-forma," "project," "seek," "should," "target," "will," "would," "will be," "will continue" or the negative thereof or other variations thereon or comparable terminology and, in this report includes our statements regarding the expected continuation of the credit rating of MNIC, the assumption/cancellation of FNIC and Maison policies (including those being assumed by SageSure) and the remitting of unearned premiums, the continuation of policy servicing and claims administration and the expectation of the retention of loss reinsurance. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve a number of risks and uncertainties, many of which are beyond the Company's control. Management cautions that any such forward-looking statements are not guarantees of future performance, and readers cannot assume that such statements will be realized or that the forward-looking events and circumstances will occur. Factors that might cause such a difference include, without limitation, approval of regulatory authorities, final results regarding catastrophe losses, our ability to make reinsurance purchases, as well as the risks and uncertainties discussed under “Risk Factors” in the Company's 2021 Form 10-K, and discussed from time to time in the Company's reports filed with the
ContactsMichael H. Braun , CEO (954) 308-1322Erick Fernandez , Interim CFO (954) 308-1341Bernard Kilkelly , Investor Relations (954) 308-1409, or [email protected]
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