Bradenton insurance firm lays down $35M anchor

BRADENTON — The Florida Office of Insurance Regulation licensed Anchor Property & Casualty Insurance Co., a new firm, to write homeowners insurance in Florida.

The Bradenton-based company, founded this past summer, has also been approved to assume around 50,000 policies from Citizens Property Insurance Corp., according to a release. Those policies will shift to Anchor in January.

Anchor, the release states, will open business with a $35 million capital investment. Insurance executives Mitch Sattler and Jennifer Pintacuda, who previously ran Lakewood Ranch-based Gulfstream Property and Casualty Insurance Co., are at the helm of Anchor. Sattler is CEO and Pintacuda is CFO.

Anchor plans to offer a full suite of home insurance products including homeowners, condo, renters, and dwelling fire policies, the release states. “In addition to providing coverage to Citizens' customers,” Sattler says in the release, “we plan to begin writing new homeowners policies in Florida by the end of 2014.”