Company Profile
CYPRESS INSURANCE GROUP
Company Overview
Founded in 1999, The Cypress Insurance Group is a Jacksonville, Florida based holding company that operates two insurance companies (Cypress Property & Casualty Insurance Company and Cypress Texas Lloyds) and an agency (Service First Insurance Group). In 2006, the group had gross revenue of $133 million and anticipates approximately $135 million for year end 2007. The Cypress Insurance Group distributes much of its premium through close relationships with leading captive insurance agents of other insurance companies. The Company also has relationships with independent insurance agents throughout Florida and Texas.
Cypress Property & Casualty Insurance Company writes homeowners, condo, dwelling and renters policies in Florida. Cypress Texas Lloyds insures Texas risks under the same products with the addition of a Dwelling Fire product tailored to Property Managers and Investors. The mission for both companies’ is to provide their policyholders with competitively priced insurance products while maintaining long-term profitability through expert underwriting and product management strategies, focused on niche markets.(www.cypresspropertyinsurance.com, www.cypresstexaslloyds.com)
Service First Insurance Group is a managing general and retail agency providing access to Cypress and other markets’ insurance products for both Commercial and Personal Lines. (www.sfinsgroup.com)
The Florida and Texas insurance companies will complete their initial entry into commercial lines in early 2008.
The majority shareholder in The Cypress Insurance Group is Onex Corporation, through an investment subsidiary. Onex is a diversified company with annual consolidated revenues of approximately $28 billion and consolidated assets of approximately $28 billion as well. Onex is one of Canada's largest companies with global operations in service, manufacturing and technology industries. Its’ shares trade on the Toronto Stock Exchange under the stock symbol OCS.SV (www.onex.com)
Benefits
Competitve package also long and short term disability, and 401k with matching provisions; conpensation includes Performance Incentives.