LUBA Workers' Comp Buys Florida-Based FHM Insurance
Friday, January 8, 2021 | 833 | 0 | 30 min read
LUBA Workers' Comp has purchased Florida-based FHM Insurance Co., expanding its reach to 13 states across the South.
The Baton Rouge Advocate reported Wednesday that LUBA, which started in 1991 as Louisiana United Business Association, had acquired FHM for an undisclosed amount.
“This alignment will enable us to offer competitive options across a combined geographical footprint,” said David Bondy, founder and chief executive officer of LUBA.
LUBA was launched as a group self-insurance fund and became a property-casualty insurance company in 2006, according to its website. Since then, it has expanded into Mississippi, Arkansas, Texas, Alabama, Oklahoma and Tennessee. The carrier insures more than 4,000 policyholders and covers 157,000 workers, and has $80 million in direct premiums.
FHM, based in Jacksonville, began in 1954 and calls itself one of the oldest comp insurers in the Southeast.