Mangrove Property Insurance
Mangrove Property Insurance is a Florida-admitted residential property insurer founded in 2025 that provides HO3 homeowners and DP3 dwelling fire coverage through independent agents across all 67 Florida counties, scaling rapidly through Citizens depopulation policy assumptions and a multi-layered reinsurance program.
- Company typePrivate
- Founded2025
- HeadquartersTampa, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Mangrove Property Insurance does
Mangrove Property Insurance Company is a Florida-domiciled admitted property and casualty insurer that launched in January 2025 following Florida Office of Insurance Regulation approval and a Demotech Financial Stability Rating of A, Exceptional. The company offers a focused residential property portfolio — HO3 homeowners coverage for owner-occupied single-family homes and duplexes, DP3 dwelling fire coverage for rental and seasonal properties, and Protect/Protect Plus+ endorsement packages — distributed exclusively through appointed independent insurance agents operating across all 67 Florida counties.
The company's core technology stack combines data-driven underwriting analytics and catastrophe risk modeling (used for exposure management and named-storm risk assessment) with a modernized digital policy and claims platform that supports 24/7 online claims filing and dedicated agent/policyholder portals. The proprietary Grove Repair Solution connects policyholders to a vetted network of licensed contractors (including ADS, Paul Davis, Neumann Construction, and multiple regional roofing and restoration firms) for claims remediation, with multi-year workmanship warranties differentiating the post-loss experience. Catastrophe risk analytics rely in part on third-party modeling, including Moody's Risk Management Solutions as the modeling agent for the inaugural catastrophe bond.
Mangrove generates revenue through recurring annual, semi-annual, and quarterly insurance premiums paid via ACH and credit card. A substantial portion of policy growth has come through Florida's Citizens Property Insurance Corporation depopulation program, with approximately 65,000+ policies assumed across April, June, and October 2025 cycles (acceptance rates of 86.4% and 84%) and an additional 20,000 approved for June 2026. The company backs its risk exposure with a record-setting reinsurance program featuring nearly 40 global reinsurance markets (37 AM Best rated and/or fully collateralized) and a $111 million inaugural catastrophe bond (Buttonwood Re Ltd. 2026-1) providing multi-year Florida named-storm coverage up to a 1-in-175-year return period. The company reports a 90% retention rate in its first Citizens renewal round, indicating strong early customer outcomes.
Mangrove Property Insurance firmographics
Firmographics- Name
- Mangrove Property Insurance
- Legal name
- Mangrove Property Insurance Company
- Website
- https://mangrove-fl.com
- Company type
- Private
- Founded year
- 2025
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Mangrove Property Insurance is a Florida-admitted residential property insurer founded in 2025 that provides HO3 homeowners and DP3 dwelling fire coverage through independent agents across all 67 Florida counties, scaling rapidly through Citizens depopulation policy assumptions and a multi-layered reinsurance program.
- Ownership category
- akta.pro rank
Mangrove Property Insurance industry classification
Industry- Product category
- Homeowners Property Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Homeowners Insurance (FSAJACAA)
- akta.pro secondary industries
- Landlord / Dwelling Fire (DP) Insurance (FSAJACAD), Renters Insurance (FSAJACAB)
Keywords
Where Mangrove Property Insurance is headquartered
LocationHeadquarters
- HQ city
- Tampa
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Mangrove Property Insurance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain
Revenue model
- Homeowners Insurance Premiums (HO3): Recurring annual insurance premiums from HO3 homeowners policies covering owner-occupied single-family homes and duplexes. Premiums are paid on annual, semi-annual, or quarterly payment plans with credit card and ACH acceptance.
- Dwelling Fire Insurance Premiums (DP3): Recurring annual insurance premiums from DP3 dwelling fire policies covering rental properties and non-owner-occupied residential properties, including landlord and seasonal home coverage.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Standard HO3 Homeowners Policy - Basic coverage with actual cash value personal property, standard liability limits, and hurricane deductible |
| Subscription | Annual | Protect Package - Enhanced coverage with replacement cost personal property and increased limits |
| Subscription | Annual | Protect Plus+ Package - Premium coverage with highest limits and broadest protection |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels7 records
Mangrove Property Insurance product offering
Product offeringCore offering
Mangrove Property Insurance is a Florida-domiciled admitted property and casualty insurance carrier that underwrites and issues HO3 homeowners policies for owner-occupied single-family homes and duplexes, and DP3 dwelling fire policies for non-owner-occupied residential properties including rentals and seasonal homes. Coverage is distributed exclusively through appointed independent insurance agents across all 67 Florida counties, with integrated claims handling via the Grove Repair Solution vetted contractor network and reinsurance protection from nearly 40 global reinsurers including a $111 million catastrophe bond.
Product overview
Mangrove Property Insurance offers a focused portfolio of Florida homeowners insurance products centered on two core offerings: HO3 Homeowners Insurance for owner-occupied single-family homes and duplexes, and DP3 Dwelling Fire Insurance for non-owner-occupied properties including rental and seasonal homes. The company supplements its core insurance products with the Grove Repair Solution, an integrated repair program that connects policyholders with a vetted network of contractors for claims handling. Optional Protect and Protect Plus+ endorsement packages provide enhanced coverage tiers with expanded limits and additional protections.
Differentiator
Problem solved
Functional benefit
Brands
- GROVE Repair Solution: Mangrove's integrated repair and rebuild program utilizing a handpicked network of licensed contractors to help return policyholders to pre-loss condition.
Products and services
- HO3 Homeowners Insurance Standard homeowners insurance policy covering owner-occupied single-family homes and duplexes in Florida, protecting dwelling structure, personal belongings, liability, and loss of use with windstorm and hurricane coverage tailored to Florida's coastal risks. Available through appointed independent agents across all 67 Florida counties, with optional Protect and Protect Plus+ endorsement packages for enhanced replacement-cost and valuables coverage.
- DP3 Dwelling Fire Insurance Dwelling fire insurance policy for non-owner-occupied residential properties in Florida, including rental properties and seasonal or secondary homes. Provides dwelling coverage with replacement cost options and named-peril protection including windstorm and hurricane, designed for landlords and owners of properties not occupied full-time.
- Grove Repair Solution Integrated repair and rebuild program offering Guaranteed, Responsive, Optimum, Vested, and Efficient repair services through a handpicked network of licensed contractors across Florida, helping policyholders return to pre-loss condition after covered events with multi-year workmanship warranties.
Quantifiable outcome
- 90% policy retention rate in initial Citizens depopulation renewal round
- +4 more outcomes
Companies that use Mangrove Property Insurance
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Mangrove Property Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Mangrove Property Insurance partnerships and signals
Strategic signalPartnerships
20 partnerships are on record, tiered core and supporting.
- Gallagher RecoreMangrove's reinsurance broker of record, providing reinsurance placement, advisory, and analytics services. Gallagher Re played an instrumental role in Mangrove's successful market entry and record-setting inaugural reinsurance program. Gallagher Securities acted as sole structuring agent and sole bookrunner for Mangrove's inaugural $111 million catastrophe bond transaction (Buttonwood Re Ltd. 2026-1).
- Willkie Farr & Gallagher LLPcoreLegal counsel to Mangrove for the inaugural catastrophe bond transaction (Buttonwood Re Ltd. 2026-1), providing legal guidance on the $111 million ILS transaction.
- Appleby BermudasupportingBermuda counsel providing legal services for Mangrove's inaugural catastrophe bond transaction.
- Moody's Risk Management Solutions, Inc.supportingModeling agent for Buttonwood Re Ltd. 2026-1 catastrophe bond transaction, providing catastrophe risk modeling and analytics.
- Artex Capital SolutionssupportingInsurance manager for the Buttonwood Re Ltd. 2026-1 catastrophe bond structure.
- Bermuda Stock ExchangesupportingListing exchange for the Buttonwood Re 2026-1 catastrophe bond notes.
- ADS (Advanced Drying Systems)supportingWater, mold, and restoration company serving as Grove Repair Solution partner for emergency mitigation and restoration services.
- Entrusted RestorationsupportingRestoration company serving as Grove Repair Solution partner providing water damage and restoration services in the Central East Florida region.
- Paul Davis Property RestorationsupportingNational restoration company serving as Grove Repair Solution partner providing property damage restoration services in Northeast Florida.
- Neumann Construction & RoofingsupportingRoofing contractor serving as Grove Repair Solution partner for roof repair and replacement in Northeast Florida.
- Robinson Roofing & RestorationsupportingRoofing and restoration contractor serving as Grove Repair Solution partner in Northeast and Panhandle Florida regions.
- 3 Lotus RoofingsupportingRoofing contractor serving as Grove Repair Solution partner in Northeast Florida.
- Triton Roofing and RestorationsupportingRoofing and restoration contractor serving as Grove Repair Solution partner in Northeast Florida.
- Southern Safe ConstructionsupportingConstruction contractor serving as Grove Repair Solution partner in Northeast Florida.
- JCM Roofing & RestorationsupportingRoofing and restoration contractor serving as Grove Repair Solution partner in Central East Florida.
- Rellim ContractingsupportingContractor serving as Grove Repair Solution partner in Florida Panhandle region.
- Massey ContractingsupportingContracting company serving as Grove Repair Solution partner in Northeast Florida.
- Florida Association of Insurance Agents (FAIA)coreFlorida's primary independent insurance agent association with nearly 2,000 member agencies. Mangrove is a Platinum Sponsor of the 2026 FAIA Annual Convention. Mangrove's leadership participates in FAIA events and the association provides endorsements for Mangrove in the Citizens depopulation program.
- Latin American Association of Insurance Agencies (LAAIA)supportingAssociation representing independent insurance agents with over $3 billion in premiums. Mangrove sponsors and participates in the LAAIA Annual Convention, connecting with agents to build partnerships.
- Florida Chamber of CommercesupportingState business organization hosting the Annual Insurance Summit. CEO Stephen Weinstein is a featured speaker, and the Chamber supported Florida's legislative reforms that enabled Mangrove's market entry.
Scale indicators7 records
Recent moves8 records
Expansion highlights5 records
Mangrove Property Insurance competitors and assessment
Company assessmentDirect peers
- Universal North America Insurance Company: Florida property insurance carrier writing HO3 and DP3 — Eduardo Miranda joined Mangrove from this carrier. Comparable in core products and Florida market focus.
- TypTap Insurance Group: Florida homeowners carrier built around data-driven underwriting and digital agent tools, also participating in Citizens depopulation. Comparable in technology-enabled point-of-sale underwriting and FL-only P&C focus.
- Slide Insurance: Florida-focused homeowners and dwelling fire carrier that scaled rapidly through Citizens depopulation and aggressive independent agent appointments. Highly comparable in product mix, distribution model, and customer segment.
- Tower Hill Insurance Group: Established Florida-domiciled property insurer writing HO3, DP3, and wind-only products through independent agents statewide. Comparable in product portfolio and exclusive agent distribution, though larger and longer-tenured than Mangrove.
- Security First Insurance Company: Florida-domiciled homeowners carrier distributing exclusively through independent agents across all 67 counties. Comparable in product line, channel model, and Florida-only footprint.
- Universal Property & Casualty Insurance Company (UPCIC): Florida-focused residential property carrier writing HO3 and DP3 through independent agents; one of the larger pure-play FL residential P&C writers. Direct product and channel comparable.
- Heritage Property & Casualty Insurance: Florida-focused residential property insurer writing HO3 and DP3 through independent agents, with significant Citizens depopulation participation. Direct product and channel overlap with Mangrove.
- Florida Peninsula Insurance Co. Florida-domiciled homeowners and dwelling fire carrier that, like Mangrove, participated in the Citizens depopulation program and was approved to assume up to 20,000 policies alongside Mangrove in the May 2026 OIR process. Closest direct comparable in product, geography, and acquisition strategy.
Others
- Citizens Property Insurance Corporation: Florida's state-backed insurer of last resort and Mangrove's principal counterparty in the depopulation program. Not a competitor but a feeder relationship that defines Mangrove's customer acquisition economics.
Emerging players
- Prepared Insurance / Prepared Hero: Tech-forward Florida homeowners insurtech focused on catastrophe-prone markets with data-driven underwriting. Emerging player with overlapping Florida HO3 focus and digital agent/policyholder experience.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Mangrove Property Insurance social profiles
Digital presenceMangrove Property Insurance compliance and trust
Trust signalCompliance1 record
Mangrove Property Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mangrove Property Insurance leadership team
Management profileNumber of profiles
Profiles5 records
Mangrove Property Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mangrove Property Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mangrove Property Insurance
What does Mangrove Property Insurance do?
Mangrove Property Insurance is a Florida-domiciled admitted property and casualty insurance carrier that underwrites and issues HO3 homeowners policies for owner-occupied single-family homes and duplexes, and DP3 dwelling fire policies for non-owner-occupied residential properties including rentals and seasonal homes. Coverage is distributed exclusively through appointed independent insurance agents across all 67 Florida counties, with integrated claims handling via the Grove Repair Solution vetted contractor network and reinsurance protection from nearly 40 global reinsurers including a $111 million catastrophe bond.
Is Mangrove Property Insurance a public or private company?
Mangrove Property Insurance is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Mangrove Property Insurance founded?
Mangrove Property Insurance was founded in 2025. It employs 11 to 50 people.
Where is Mangrove Property Insurance based?
Mangrove Property Insurance is headquartered in Tampa, United States, in the North America region.
How does Mangrove Property Insurance make money?
Two revenue lines are on record. Homeowners Insurance Premiums (HO3) is the primary driver. The others are dwelling Fire Insurance Premiums (DP3).
Who are Mangrove Property Insurance's main competitors?
Direct peers on record are Universal North America Insurance Company, TypTap Insurance Group, Slide Insurance, Tower Hill Insurance Group, Security First Insurance Company, Universal Property & Casualty Insurance Company (UPCIC), Heritage Property & Casualty Insurance and Florida Peninsula Insurance Co.. Citizens Property Insurance Corporation is listed as an others. Prepared Insurance / Prepared Hero is listed as an emerging player.
Does Mangrove Property Insurance have an API?
No public API is recorded for Mangrove Property Insurance.
What industry is Mangrove Property Insurance in?
Mangrove Property Insurance's product category is Homeowners Property Insurance. Its primary akta.pro industry code is FSAJACAA, Homeowners Insurance, with a secondary code of FSAJACAD, Landlord / Dwelling Fire (DP) Insurance. Its NAICS code is 524126 and its SIC code is 6331.