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Liquidation of Lighthouse Property Insurance

An insurer is liquidated by a Louisiana court.

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Lighthouse Property Insurance Corporation and its subsidiary Lighthouse Excalibur Insurance was declared insolvent and ordered liquidated by a Louisiana Court on April 28, 2022 after it was determined that any further attempts to rehabilitate the companies were futile.

Lighthouse ceased writing business in Florida in February where it had about 27,000 policies in force. The company was downgraded and its rating withdrawn by the ratings firm Demotech on March 29, 2022, and losses pertaining to Hurricane Ida in Louisiana were cited as contributing to the downgrade. It was placed into receivership shortly thereafter.

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