Mangrove Property Insurance, which received approval as a property and casualty insurance provider in the state in mid-January, has achieved a renewal rate of approximately 90%, according to its initial round of policy renewals assumed from Citizens Property Insurance Corporation.

Mangrove believes the initial results reflect its strong acceptance among independent agents and policyholders.

“We believe our targeted underwriting, policyholder commitment, and vision of providing a stable source of renewal capacity in partnership with the incumbent agents are the key factors driving these successful renewals,” Mangrove CEO Stephen Weinstein said.

“We will be consistent in our approach in the fourth quarter Citizens assumption process, continuing our focus on policies which meet our robu

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