Mangrove Property Insurance in Florida
Mangrove Property Insurance is the newest name on Florida’s admitted homeowners shelf: approved by the state in January 2025, rated A (Exceptional) by Demotech before it wrote its first policy, and writing statewide since that April from a St. Petersburg home office with a reinsurance program built by a former RenaissanceRe executive. If a Citizens takeout letter carrying Mangrove’s name just arrived, or you are weighing a young carrier against the ones you know, this page lays out the record and how we put Mangrove’s price beside 20+ other Florida homeowners carriers before you decide anything.
Mangrove at a glance
Carrier ratings verified directly with each rating agency.
Approved in January 2025, writing by April: the newest carrier on Florida’s admitted shelf
Mangrove Property Insurance Company received its certificate of authority from the Florida Office of Insurance Regulation on January 15, 2025, one of eleven new insurers the state announced that month as fresh capital returned to Florida after the 2022 and 2023 reforms. Three weeks later, on February 3, 2025, Demotech assigned it a Financial Stability Rating of A (Exceptional) before a single policy was on the books, and the company began writing in April 2025 with its first Citizens assumption.
The name was chosen on purpose. Demotech’s release noted that mangroves symbolize the insurer’s intent to focus on resilience, with a company built to help policyholders, in the rating agency’s words, “flourish and survive” hurricane events. Mangrove’s own statement of purpose runs the same direction: robust claims management, modern systems, and repair programs aimed at restoring homes to their original condition.
For a company this young, the story is less about years in the state and more about what stood it up: the capital, the reinsurance discipline, and the people. Those are the parts of the record worth reading before you compare its price, and they are laid out below with dates and sources.
The reinsurance résumé behind it
Mangrove was founded and is led by Stephen Weinstein, who spent 2002 to 2020 at RenaissanceRe, the Bermuda reinsurer that has priced Florida hurricane risk for three decades, as executive vice president and group general counsel. He is also chairman of Itasca Re Ltd., a Bermuda specialty reinsurer. A Florida homeowners carrier lives or dies on its reinsurance program, and this one was designed by someone who spent a career on the other side of that table.
The company said from the start that it would invest in reinsurance and risk-transfer protection “at levels which will set a new standard in Florida.” In August 2026 it went a step further and formed Grove Re Ltd., a Bermuda-domiciled Class 3A sidecar built to support Mangrove’s risk management and underwriting; Weinstein said the vehicle would enhance the company’s risk-transfer efficiency and reflected its commitment to long-term policyholder and agent partnerships. Bermuda’s Royal Gazette reported the same month that Mangrove had placed two record-setting reinsurance programs and issued its first catastrophe bond since its April 2025 launch.
None of that is a promise about any future storm, and no rating agency treats it as one. It is the structure a carrier puts in place so that the policy you buy is backed by more than one company’s balance sheet, and it is the first thing we look at when a new name asks for shelf space beside carriers we have placed for years.
What Mangrove writes, with the state’s counts as proof
Mangrove writes two policy forms and writes them everywhere: the HO-3 homeowners policy and the DP-3 dwelling-fire policy for rental and secondary homes, in all 67 Florida counties, through independent agents. Its first-quarter 2026 filing put the book at 48,283 homeowners policies and 15,042 dwelling-fire policies as of March 31, 2026, with just over $212 million of direct written premium for the quarter.
Florida OIR’s monthly market data told the same story from a different angle: roughly 61,700 personal residential policies in force by May 2026, which placed Mangrove among the larger of the carriers licensed in the 2024–2025 wave. Most of that book arrived through Citizens depopulation, and a growing share now comes through everyday voluntary quotes.
For you the practical question is the price and the coverage for your address. Cornerstone quotes Mangrove beside 20+ other Florida homeowners carriers on the same answers, so its number earns its place on your comparison rather than arriving alone.
The Citizens takeout record: a top-three assumer in its first year
Mangrove’s first Citizens assumption landed on April 15, 2025, when it took on roughly 30,000 policies after 86.4 percent of the policyholders it selected accepted the offer; by June the running total was close to 50,000. In October 2025 it assumed another 15,991 policies, about 40 percent of the 39,000 it had identified, and Citizens’ year-end statistics recorded 68,299 policies assumed by Mangrove for 2025, the third-largest total of any carrier in the program.
The number we watch more closely is what happens at the first renewal. In September 2025 the company reported a 90 percent renewal rate on the policies it had assumed in the first half of the year, which is a stronger signal about pricing and service than the assumption counts themselves. The 2026 season is smaller by design: 3,671 policies assumed through July 21, 2026, with additional tranches scheduled for August 18 and September 15, 2026.
If a takeout letter with Mangrove’s name is in your hands, the rules are the same as for any carrier in the program: an offer within 20 percent of your Citizens premium means you leave Citizens, and if more than one carrier bids you choose among them. Our Citizens takeout guide walks through the deadlines and the choices, and we will read the letter with you. One more thing that matters after a move: a loss that happened before your assumption date stays with Citizens, and its claims line is 866-411-2742.
How Mangrove is rated, plainly
Demotech assigned Mangrove a Financial Stability Rating of A (Exceptional) on February 3, 2025, and that is the rating on file. Demotech is the agency that rates most Florida-only residential carriers, including eight of the ten insurers licensed in Mangrove’s cohort, and its A is the mark most Florida mortgage lenders accept.
Mangrove has not published an AM Best or KBRA rating, which is the norm for a Florida-only carrier in its second year rather than a gap in the record. Manatee, licensed a year earlier, carries a KBRA rating alongside its Demotech rating; some carriers add one as they grow. When we place a home with a young carrier, the rating is one input; the reinsurance program, the claims operation, and how the first renewal cycle went are the others, and Mangrove’s record on each is set out on this page.
Ratings are opinions about financial strength at a point in time, and we verify them with the agency directly rather than repeating them from memory. What a policy pays in any particular loss is governed by its own terms, and no rating changes that.
Claims, payments and the practical details
Claims go straight to the carrier: 877-700-3727 is staffed around the clock, and the same number reaches customer service on weekdays from 8 to 5 Eastern. Mangrove also takes first notice of loss online through its claim form, and policyholders manage documents and payments through its portal at my.mangrove-ins.com. Payment plans run annual, semi-annual, or quarterly.
Mailed payments go to Mangrove Managing Agency, LLC, P.O. Box 5130, Deptford, NJ 08096, by standard mail only; that box does not accept overnight deliveries. Our claims and payments page keeps the same details next to every other carrier we place.
Your agent’s part comes before any loss: what the policy is designed to do, where the deductibles sit, whether the coverage still fits the home. Call or text 813.920.8181 with those questions on any quiet day. What a policy covers in a particular loss comes down to its own terms, which is why that conversation belongs long before you ever need the claims number.
Two ways to use this page
If a Citizens takeout letter brought you here, the useful move is to see Mangrove’s offer beside the rest of the market before the deadline, not after. Send us the letter and we will show you what 20+ Florida homeowners carriers would charge for the same home, and whether the offer is the one to take.
If you are simply weighing a new carrier against the names you know, the same comparison answers it. We do not favor the youngest carrier or the oldest; we place the one whose price and coverage fit your home, and then we stay with you through the year and at every renewal. Switching Florida home carriers often means new inspections and fresh paperwork, so getting it right the first time is the point.
Either way, one entry prices your home across our markets, Mangrove among them, and a licensed Florida agent walks you through where it lands.
Mangrove Property Insurance: your questions, answered
Is Mangrove Property Insurance a good company?
Here is the public-record footing. Mangrove was licensed by Florida’s Office of Insurance Regulation on January 15, 2025, rated A (Exceptional) by Demotech on February 3, 2025, and reported 48,283 homeowners and 15,042 dwelling-fire policies in force as of March 31, 2026, with just over $212 million of premium written that quarter. It was the third-largest Citizens assumer of 2025 at 68,299 policies and reported a 90 percent renewal rate on its first-half-2025 assumptions. It is led by a former RenaissanceRe executive and backed by a Bermuda sidecar formed in 2026. Whether it is the right carrier for your home is a price-and-coverage question we answer by quoting it beside 20+ other Florida carriers.
Who owns and runs Mangrove?
Mangrove Property Insurance Company was founded and is led by Stephen Weinstein, its chief executive, who was executive vice president and group general counsel of RenaissanceRe from 2002 to 2020 and chairs Itasca Re Ltd., a Bermuda specialty reinsurer. The company is based in St. Petersburg, Florida, and its policies are administered by Mangrove Managing Agency, LLC.
What does Mangrove write in Florida?
Two forms: the HO-3 homeowners policy and the DP-3 dwelling-fire policy for rental or secondary homes, sold through independent agents in all 67 Florida counties. Condo unit-owner, renters, and flood policies are not part of its current lineup, so a household that needs those is placed with other carriers we represent.
I received a Citizens takeout letter from Mangrove. What happens now?
Citizens’ depopulation rules apply: if Mangrove’s offer is within 20 percent of your current Citizens premium you are required to leave Citizens, and if more than one carrier made an offer you choose among them by the deadline on the letter. Bring us the letter and we will compare the offer against 20+ other Florida homeowners carriers before you respond. Any loss that occurred before your assumption date stays with Citizens, whose claims line is 866-411-2742.
How is Mangrove rated?
Demotech assigned Mangrove a Financial Stability Rating of A (Exceptional) on February 3, 2025, and that remains the rating on file. Mangrove has not published an AM Best or KBRA rating, which is typical for a Florida-only carrier in its second year. We verify carrier ratings with each agency directly.
How do I file a claim with Mangrove?
File directly with the carrier: call 877-700-3727, which is staffed 24 hours a day, or use the online claim form at mangrove-fl.com. Filing with the carrier is the fastest path to an adjuster. Your agent’s part comes before a loss, in making sure the policy is designed for how you live in the home; what a policy pays in any particular claim is governed by its own terms.
How do I pay a Mangrove bill?
Online through the policyholder portal at my.mangrove-ins.com, or by mail to Mangrove Managing Agency, LLC, P.O. Box 5130, Deptford, NJ 08096, standard mail only. Billing questions go to 877-700-3727 on weekdays from 8 to 5 Eastern. Payment plans are annual, semi-annual, and quarterly.
Can I get a Mangrove quote through Cornerstone?
Yes. Cornerstone is appointed with Mangrove and quotes it beside 20+ other Florida homeowners carriers on one set of answers, so you see where its price lands for your address rather than taking it alone. Call or text 813.920.8181 or request a quote online, and a licensed Florida agent will walk you through the comparison.