Florida DFS files petition to enter FedNat into receivership
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Florida DFS files petition to enter FedNat into receivership

Farhin Lilywala
23 September 2022
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FedNat Insurance logo Fort Lauderdale Florida.jpg

Florida's Department of Financial Services (DFS) has requested the appointment of a receiver for FedNat after the carrier failed to implement a solvent run-off.

The receivership will become an event of default under the company's outstanding $100mn senior unsecured notes due 2029 and $21mn convertible notes due 2026 if not discharged within 60 days.

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Farhin Lilywala
Section Editor, Distribution & Specialty
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