Fednat Hldg Co. (FNHC)

Federated National Holding Co., was formerly known as 21st Century Holding Company. The Company is an insurance holding company and authorized to underwrite, and place through its wholly owned subsidiaries, homeowners' multi-peril, and commercial general liability, personal and commercial automobile, personal umbrella, fire, allied lines, workers' compensation and commercial inland marine insurance in Florida and various other states. It markets and distributes its own and third-party insurers' products and its other services through a network of independent agents. It also utilizes a select number of general agents for the same purpose. Its main insurance subsidiary is Federated National Insurance Company ('FNIC'). FNIC is licensed as an admitted carrier in Florida. An admitted carrier is an insurance company that has received a license from the state insurance regulator for authority to write specific lines of insurance in that state. Through contractual relationships with a network of approximately 3,000 independent agents, of which approximately 600 actively sell and service its products, FNIC is authorized to underwrite homeowners', commercial general liability, fire, allied lines and personal and commercial automobile insurance in Florida. FNIC is also licensed as an admitted carrier in Alabama, Louisiana, Georgia and Texas, and underwrites commercial general liability insurance in those states and personal automobile insurance in Georgia. FNIC operated as a non-admitted carrier in Arkansas, California, Kentucky, Maryland, Missouri, Nevada, Oklahoma, South Carolina, Tennessee and Virginia, and could underwrite commercial general liability insurance in all of these states. It faces competition from national, regional and residual market insurance companies in the homeowners', commercial general liability, and automobile markets.