SUNRISE, Fla., Sept. 11, 2012 (GLOBE NEWSWIRE) -- 21st Century Holding Company (Nasdaq:TCHC), a Florida-based provider of insurance, announced today that its corporate name has been changed to Federated National Holding Company ("Federated National"), after receiving shareholder approval for the name change at the Company's 2012 Annual Shareholder meeting held on September 11, 2012. The Company's Nasdaq trading symbol has also changed to "FNHC."
Mr. Michael H. Braun, the Company's Chief Executive Officer and President, said, "The Company's management team and Board of Directors agreed to change the name to Federated National since the majority of the Company's business is conducted through its insurance subsidiary, Federated National Insurance Company, which is known to its policyholders and agents as "Federated National" or "Federated." The names Federated National and Federated have developed goodwill over the years with its agents and policyholders. The name change to Federated National should allow the Company to better streamline its marketing efforts and relay its vision to its shareholders, agents and policyholders ."
About the CompanyThe Company, through its subsidiaries, underwrites homeowners' property and casualty, commercial general liability, commercial residential property, flood, personal automobile and commercial automobile. Additionally, the Company is licensed to and has the facilities to market and underwrite policies for other insurance carriers' lines of business such as, inland marine, workers' compensation and personal umbrella insurance in the state of Florida. The Company is licensed as an admitted carrier in the states of Alabama, Georgia, Louisiana and Texas to offer coverage for more than 300 classes of commercial general liability business, including special events. The Company, through its subsidiaries, is also approved to operate as a surplus lines/non-admitted carrier in the states of Arkansas, Kentucky, Maryland, Missouri, Nevada, Oklahoma, South Carolina, Tennessee, and Virginia and offers the same general liability products. The Company, through its subsidiaries, adjusts claims for itself and is licensed to process and adjust claims for third party insurance carriers as well.
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