News Column

Sunshine State Insurance Company Increased Policyholders Surplus

Aug 26 2013 12:00AM



JACKSONVILLE, FL -- (Marketwired) -- 08/26/13 -- Sunshine State Insurance Company is pleased to announce the receipt of a $2 million cash contribution to surplus from its parent company, Sunshine State Insurance Holdings Corporation. The contribution brings Sunshine State's policyholders' surplus to in excess of $17 million, the highest level in the Company history.

Stephen Korducki, President and Chief Executive Officer, commented that the surplus contribution is part of a continuing effort to strengthen the Company's balance sheet. Korducki reported the Company's policyholders' surplus has increased by 60 percent over the past three years through a combination of earnings and capital contributions, while its modeled probable maximum 1-in-100-year hurricane loss has decreased by over 40 percent during the same time span.

Sunshine State Insurance Company is based in Jacksonville and has served Florida policyholders since 1997.

Add to Digg Bookmark with Add to Newsvine

Media contact:
Mechlin Moore
MDM Communications
Email Contact

Source: Marketwire

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters