Zephyr Insurance: Florida-based Heritage Insurance to acquire Hawaii's Zephyr Insurance Co. for $120M

Property and casualty insurance holding company Heritage Insurance Holdings, Inc. has agreed to acquire Zephyr Insurance Co., one of largest hurricane insurance providers in Hawaii, for nearly $120 million by the end of this year. "The acquisition creates significant reinsurance synergies and enables us to expand into an attractive geographic market," Heritage Chairman and CEO Bruce Lucas said in a statement on Tuesday. "The combination of our complementary business models will be immediately accretive...