What Manatee Insurance Exchange does

Manatee Insurance Exchange is a Florida-domiciled reciprocal insurance exchange headquartered in Tampa, Florida, that writes admitted property and casualty insurance specializing in coastal and hurricane-exposed property risks. The company operates as a reciprocal exchange managed by Manatee Risk Management as Attorney-in-Fact, meaning it is owned by its policyholders (subscribers) who sign a Subscriber Agreement and Limited Power of Attorney and contribute 10% of each premium as a Subscriber Surplus Contribution applied directly to the Exchange's surplus. Coverage is distributed exclusively through a network of appointed independent insurance agents organized into four Florida regions (Panhandle, Northern & Central, Southwest, Southeast), with no direct-to-consumer channel.

The product portfolio spans personal lines — Homeowners (HO-3), Condo (HO-6), Dwelling Fire (DP1/DP2/DP3), Mobile Home (MHO-3/MDP-1), Equipment Breakdown, Mini-Farm Endorsement, and Personal Flood — and commercial lines — Main Street Property Business, Houses of Worship, Mini Warehouses, Office Buildings, Shopping Centers (Lessor's Risk), Commercial Equipment Breakdown with enhancements, and Commercial Flood. Flood coverage is placed through sister company SafePoint Insurance Company (a Write-Your-Own carrier). The core technology stack is SafePoint's policy administration systems (Safepoint DC for personal lines, Safepoint Commercial for commercial lines, SafepointFlood for flood), with no disclosed proprietary AI/ML, public APIs, or developer-facing integrations. Vendor integrations include SDII Global for sinkhole inspections and National Risk Services for 4-point inspections.

Manatee was founded in 2024, received its Certificate of Authority from the Florida Office of Insurance Regulation in January 2024, and was approved in March 2025 to assume approximately 240,000 policies from Citizens Property Insurance Corp. as part of Florida's depopulation program. The company holds a Demotech Financial Stability Rating of A (Exceptional) and a KBRA BBB rating, both accepted by Fannie Mae, Freddie Mac, and HUD programs. Revenue is generated through subscription-style recurring insurance premiums with payment plans (full pay, 2-pay, 4-pay); pricing is quote-based and not publicly disclosed.

Name

Manatee Insurance Exchange

Legal name

Manatee Insurance Exchange Company

Website

https://manatee-insurance.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

101–250 employees

Short description

Manatee Insurance Exchange is a Florida-domiciled reciprocal insurance exchange specializing in coastal property insurance, distributing personal and commercial lines through appointed independent agents statewide and assuming policies from Citizens Property Insurance Corp.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Landlord / Dwelling Fire (DP) Insurance (FSAJACAD)

akta.pro secondary industries

Flood Insurance (FSAJACAG), Real Estate / Lessors Risk BOP (FSAJAFAI)

Keywords

• Property insurance
• Reciprocal insurance exchange
• Coastal property insurance
• Hurricane insurance coverage
• Florida property insurance

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Premium Revenue: Manatee Insurance Exchange collects insurance premiums from policyholders for property and casualty coverage. Each policy includes a Subscriber Surplus Contribution of 10% of premium, which is applied directly to the Exchange's surplus. Policyholders have payment options including full pay, 2-pay, and 4-pay plans. The company operates as an admitted carrier with policies protected by the Florida Insurance Guarantee Association (FIGA).

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Manatee Insurance Exchange is a Florida-domiciled admitted property and casualty reciprocal insurance exchange that writes personal and commercial property insurance in Florida, specializing in coastal and hurricane-exposed properties. Coverage is delivered exclusively through a network of appointed independent insurance agents across four Florida regions, with policy administration and claims handling operated on Safepoint Insurance systems. The company offers 24/7 hurricane claims reporting and catastrophe response deployment for its policyholders.

Product overview

Manatee Insurance Exchange is an admitted property and casualty insurance reciprocal exchange headquartered in Tampa, Florida, specializing in coastal property insurance. It operates as a reciprocal insurance exchange managed by Manatee Risk Management (Attorney-in-Fact), distributing products exclusively through independent insurance agents. The portfolio consists of two distinct lines: Personal Lines (Homeowners HO-3, Condo HO-6, Dwelling Fire DP1/DP2/DP3, Mobile Home MHO-3/MDP-1, Personal Flood Coverage via sister company Safepoint Insurance WYO, Equipment Breakdown Coverage with off-premises protection, and Mini-Farm Endorsement) and Commercial Lines (Main Street Property Business covering retail/office/restaurant classes, Houses of Worship, Mini Warehouses, Office Buildings, Shopping Centers Lessor's Risk, and Commercial Equipment Breakdown with enhanced coverages). The company also operates a 24/7 claims handling operation with hurricane catastrophe response deployment and an approved water damage restoration contractor network. Manatee received its Certificate of Authority in January 2024 and has been assigned a Financial Stability Rating of A (Exceptional) by Demotech and a BBB rating by KBRA.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Insurance (HO-3) Owner-occupied homeowners policy providing protection for damage to the home and personal property, along with liability coverage for the policyholder.
• Condo Insurance (HO-6) Condo Unit Owners policy covering damage to the condominium interior, flooring, additions and alterations within the unit, personal belongings, liability, and additional living expenses.
• Dwelling Fire Insurance (DP1, DP2, DP3) Named-perils (DP1, DP2) or open-peril (DP3) coverage for dwellings, suitable for investment properties, rental homes, or vacation properties, covering the structure and personal property within.
• Mobile Home Insurance (MHO-3, MDP-1) MHO-3 policy for owner-occupied mobile/manufactured homes as primary residence; MDP-1 for tenant-occupied properties, covering dwelling, personal property, other structures, and loss of rent.
• Main Street Property Business Special form property coverage including wind for main street business classes (offices, retail, restaurants), covering fire, lightning, explosion, smoke, theft, vandalism, wind/hail, and other perils. Eligible classes include a wide range of retail operations, offices, and restaurants.
• Houses of Worship Package policies designed for small house of worship operations (temples, churches, synagogues, mosques), covering free-standing, storefront, strip mall, and community-based structures for all denominations.
• Mini Warehouses Insurance for traditional self-storage and mini-storage operations providing segregated units. Coverages include building insurance (structure of storage units and office), business personal property, equipment breakdown for climate-controlled units, and liability.
• Office Buildings Building coverage paying for damages to office buildings and other structures on the premises, as well as business personal property. Coverage includes wind for all coastal counties, limits up to $10,000,000, and ordinance and law coverage.
• Shopping Centers (Lessor's Risk) Lessor's Risk policies providing liability and property protection for building owners who lease their buildings. Admitted package includes commercial property insurance and general liability with coverage for building, business personal property, business income, employee theft, equipment breakdown, exterior signs, and cyber.
• Hurricane Claims Handling 24/7 claims reporting and catastrophe response service. In the event of a hurricane, Manatee deploys to centralized locations to assist agents and customers with disaster recovery efforts.
• Water Damage Restoration Services Approved contractor network for water mitigation and restoration services, providing residential water damage restoration and moisture control to assist customers through the restoration process.

Quantifiable outcome

• Financial Stability Rating A (Exceptional) from Demotech, Inc. and BBB from KBRA, accepted by Fannie Mae, Freddie Mac, and HUD programs

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• Citizens Property Insurance Corp.minorOthers · 1 March 2026Manatee Insurance Exchange was approved by the Florida Office of Insurance Regulation to assume approximately 240,000 policies from Citizens Property Insurance Corp., Florida's state-backed insurer of last resort, as part of the state's ongoing depopulation drive.
• SafePoint Insurance CompanycoreStrategic or Co-development Partner · 1 January 2024SafePoint Insurance Company transferred policies to Manatee Insurance Exchange and is transitioning policy administration. Manatee's coverage options mirror SafePoint's offerings. SafePoint provides claims handling, policy administration systems (Safepoint DC, Safepoint Commercial), and customer support infrastructure. Safepoint's Anti-Fraud plan and Special Investigations Unit (SIU) operates under the same framework.
• SDII GlobalminorImplementation/ SI/ Consulting PartnerSDII Global is Manatee's approved vendor for sinkhole inspections. They conduct inspections for properties requesting sinkhole coverage endorsement. Pre-arranged fee of $70 due from policyholder at time of inspection.
• National Risk Services (NRS)minorImplementation/ SI/ Consulting PartnerNRS is Manatee's partner vendor for 4-point inspections at new business based on age of home. Inspection ordered through https://www.inspectionorders.com/manateeins at reduced cost to policyholder.
• Insurance Institute for Business & Home Safety (IBHS)minorStrategic or Co-development PartnerManatee Insurance is a member of IBHS since its inception. This partnership provides access to current disaster preparedness, recovery, and insurance industry research, which Manatee shares with customers through its resources section.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Slide Insurance Company: Slide is a Florida-focused personal and commercial property carrier that was approved alongside Manatee to assume Citizens policies in the same depopulation round. It competes head-to-head with Manatee for Florida coastal property risks and agent relationships.
• Tower Hill Insurance Group: Tower Hill is a Florida-headquartered mutual-style group of insurers writing homeowners, dwelling fire, mobile home, and commercial property across hurricane-exposed counties. It is directly comparable to Manatee in product mix, geography, distribution (independent agents), and admitted-carrier positioning.
• Olympus Insurance Company: Olympus is a Florida-focused admitted P&C carrier writing homeowners, dwelling fire, and commercial property, distributed through independent agents. It targets the same hurricane-exposed Florida segments as Manatee and is a frequent co-bidder in Citizens depopulation cycles.
• Heritage Property & Casualty Insurance Company: Heritage P&C is a large Florida-focused admitted homeowners and coastal property carrier. Both Heritage and Manatee target the same hurricane-exposed residential property market in Florida, distribute through independent agents, and participate in Citizens depopulation.
• SafePoint Insurance Company: SafePoint Insurance is Manatee's sister company and provides policy administration (Safepoint DC, Safepoint Commercial), claims handling, and SIU/anti-fraud infrastructure. Manatee's product set mirrors SafePoint's, and policies are transitioning from SafePoint to Manatee — making SafePoint the closest operational and product analogue.
• Southern Oak Insurance Company: Southern Oak is a Florida-domiciled homeowners and coastal property insurer that was also approved in the same Citizens depopulation round as Manatee. It overlaps directly with Manatee on product lines (HO-3, dwelling fire, mobile home) and target customer (hurricane-exposed Florida property owners).
• Federated National Insurance Company (FedNat): FedNat is a Florida-domiciled P&C carrier concentrated on homeowners and windstorm-exposed properties, often accessed through Citizens takeouts. It competes directly with Manatee for the same coastal-Florida policyholders and agent appointments.
• One Alliance North America Insurance Company: One Alliance NA is a Florida property carrier approved alongside Manatee in the Citizens depopulation round. It writes personal and commercial property in Florida and overlaps directly with Manatee on coastal product lines and agent distribution.

Others

• Citizens Property Insurance Corp. Citizens is Florida's state-backed insurer of last resort and the source of the ~240,000 policies Manatee is assuming. While not a competitor (its role is residual-market coverage), Citizens' depopulation pipeline is the central growth channel for Manatee and a key benchmark for Florida P&C capacity.

Broad incumbents

• Universal Insurance Holdings (UPC): Universal Property & Casualty is a publicly traded Florida-anchored P&C carrier writing homeowners, dwelling fire, and commercial property across hurricane-exposed states. It is a broader incumbent in the same Florida coastal P&C niche as Manatee.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/manatee-insurance-exchange

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Manatee Insurance Exchange