Mangrove renews catastrophe reinsurance program for 2026-27

Mangrove Property Insurance says it completed its 2026-2027 catastrophe reinsurance program, expanding protection for Florida homeowners and reinforcing its capital base after launching in 2025. The program adds new reinsurers, exceeds regulatory requirements, and covers events beyond Florida’s historical record.

Why it matters: - Mangrove says the renewed program strengthens protection for Florida policyholders against severe hurricane and catastrophe losses. - The reinsurance tower is designed to support policy claims after major events and to help Mangrove maintain long-term capacity in Florida. - The company says the structure also reflects broader confidence from reinsurers in Florida insurance reforms and Mangrove’s underwriting approach.

What happened: - Mangrove Property Insurance announced the successful completion of its catastrophe reinsurance program for the 2026-2027 cycle. - The announcement came Aug. 14, 2026, from St. Petersburg, Florida. - Mangrove founder and CEO Stephen Weinstein said the company completed its first renewal after launching in 2025. - The company said the renewal expanded its reinsurance panel with new partners from both traditional and insurance-linked securities markets.

The details: - Mangrove said the program exceeds regulatory and rating agency requirements. - The coverage protects Mangrove and its policyholders to the 175-year return period. - The program also covers events exceeding any historical record and includes all-perils coverage. - The reinsurance tower includes subsequent event protection. - The renewal included increased aggregate cover. - Mangrove said its panel includes 44 individual reinsurers supporting the catastrophe treaty. - The company said it has 77 current incumbent capital partners when including the Buttonwood Re catastrophe bond and other third-party covers. - The panel includes 36 new partners, including 11 new reinsurers supporting the catastrophe reinsurance treaty. - Mangrove said all reinsurance providers are rated A- or higher or have provided fully collateralized capacity. - Mangrove said it received substantial capacity from several of the largest reinsurers in the world. - Mangrove was launched in January 2025 to offer admitted homeowners insurance in Florida. - The company works through local independent agents in all 67 Florida counties. - Demotech rates Mangrove “A, Exceptional.” - Mangrove’s website is Mangrove-FL.com. - The company’s LinkedIn page is Mangrove Property Insurance.

Between the lines: - The broader and more diversified panel suggests Mangrove is trying to reduce reliance on any single market segment or capital source. - The addition of new partners after the launch year may signal improved market confidence in Mangrove’s business model and Florida’s post-reform insurance environment. - The company’s emphasis on record-level protection is a signal to agents, regulators and consumers that Mangrove wants to position itself as a durable carrier rather than a short-term entrant.

What's next: - Mangrove said it has already started discussions for future reinsurance periods. - The company is positioning itself for continued growth with incumbent reinsurers and new market partners. - Mangrove said its goal is to remain a long-term capacity provider across market cycles.

The bottom line: - Mangrove’s latest reinsurance renewal gives the Florida carrier deeper protection, broader backing and a stronger platform heading into the next hurricane seasons.