Executives of the Florida homeowners insurer, Mangrove Property Insurance Co, are on the island this week to talk to the Bermuda reinsurance community about the way forward as the state rebounds from years of market difficulties.

The talks, led by Stephen Weinstein, the founder and chief executive of Mangrove, will include discussions on market reforms in the state.

Mr Weinstein has a long and prominent history in the Bermuda insurance market, primarily through his significant roles at RenaissanceRe Holdings and the Bermuda Business Development Agency.

His Bermuda market leadership has long included promotion of Bermuda and its critical role in the catastrophe reinsurance market because island reinsurers provide a large percentage of hurricane reinsurance in catastrophe-prone areas such as Florida and Texas.

Also familiar to the Bermuda market is Mangrove board member David Hart, who was the chief executive of the BDA after many years as executive vice-president of government affairs and political operations at the Florida Chamber of Commerce.

Mr Weinstein opened Mangrove in St Petersburg in January to offer admitted homeowners’ insurance in Florida. Through partnerships with local independent agents in all 67 Florida counties, Mangrove is committed to providing sustainable, long-term capacity tailored to Florida’s unique market.

Rated “A” (exceptional) by Demotech Inc, Mangrove provides homeowners coverage on a voluntary basis throughout the state.

Mr Weinstein will also be a featured speaker in Orlando on December 4 and 5 at the Florida Chamber of Commerce Annual Insurance Summit.

He will join other property insurance chief executives to provide perspectives on Florida’s improving insurance landscape.

The state’s recent legislative and regulatory reforms, supported by the chamber, harmonised aspects of Florida’s insurance and tort regime with national standards and succeeded in stabilising its insurance market, attracting new entrants, competition and capacity to help Floridians reliably meet their property insurance needs.

Mr Weinstein said: “Last week, I attended [Florida] Governor Ron DeSantis’s keynote address at the PwC Bermuda Insurance Summit covering the impacts of the legislative and regulatory reforms to stabilise Florida’s market, afford policyholders expanded choice and restore reinsurer confidence in Florida.

“This week, the broader Mangrove leadership team has returned to Bermuda for private dialogue with global market leaders and to celebrate our record-setting inaugural reinsurance programme. I look forward to sharing some of the takeaways from these exchanges with the Florida Chamber’s Insurance Summit audience.”

The summit is a longstanding professional gathering that brings together members of the state’s business community, lawmakers, insurance professionals and regulators for interactive and important discussions on where the Florida insurance market is today, as well as what is on the horizon.

The summit, which is attended by business leaders, insurance professionals, independent agents, reinsurers and legislative officials, is a marketwide engagement opportunity.