HG Holdings subsidiary enters advisory and reinsurance deals with FedNat entities

HG Holdings, Inc.

HGMA to assist FedNat Underwriters in restructuring non-statutory entities; fee = 1.5% of gross earned premium of Monarch and Maison (TX) per annum.
Term of advisory agreement through July 2025; requires OIR approval.
Protected Cell formed; $7.8M excess cat reinsurance for Maison on ~7,650 TX policies, $6.63M premium, $1.17M capital at risk.
Reinsurance contract effective July 1 to Dec 31, 2022; retention $5M, limit $7.8M.
Monarch (83k policies) is 60% owned by HPCM, 40% by FNHC after $15M investment.

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