Florida’s HomeWise Insurance Completes Merger with First Home

HomeWise Insurance Co. and First Home Insurance Co. have completed their previously-announced merger.

The two Florida domiciled companies, with $25 million of surplus, are combined under the HomeWise Insurance Co. name.

Rating firm Demotech Inc. has issued a Financial Stability Rating (FSR) of A, Exceptional , for the combined entity.

Tampa-based HomeWise said it will offer homeowners, tenant and condominium, dwelling fire, flood and small commercial property coverage in Florida, along with homeowners in Louisiana.

The companies said they have also completed the placement of their combined reinsurance program covering multiple events for the 2011 hurricane season.