Brief: 1347 Property Insurance Holdings Announces Sale Of Homeowners’ Insurance Operations

Fednat Holding Co

25/02/2019 22:27

Feb 25 (Reuters) - Fednat Holding Co  FNHC.O :
    * 1347 PROPERTY INSURANCE HOLDINGS, INC. ANNOUNCES SALE OF
HOMEOWNERS’ INSURANCE OPERATIONS TO FEDNAT HOLDING COMPANY;
REMAINING OPERATIONS WILL BE TRANSITIONED INTO NEW GROWTH
STRATEGY FOCUSED ON REINSURANCE AND INVESTMENT MANAGEMENT
    * 1347 PROPERTY INSURANCE HOLDINGS INC - CASH AND STOCK
TRANSACTION VALUED AT APPROXIMATELY $51 MILLION
    * 1347 PROPERTY INSURANCE HOLDINGS INC - 1347 PIH INTENDS TO
MAINTAIN ITS NASDAQ LISTING
    * 1347 PROPERTY INSURANCE HOLDINGS INC - EXPECTS TO RETAIN
CFO
JOHN HILL
    * 1347 PROPERTY INSURANCE HOLDINGS INC - EXPECTS
APPROXIMATELY
$1.5 MILLION OF ANTICIPATED CLOSING COSTS

Source text for Eikon:  ID:nBw28Grzna 
Further company coverage:  FNHC.O 

 ((Reuters.Briefs@thomsonreuters.com;))