Homeowners Choice, Inc.,, a Florida-based provider of homeowners’ insurance, today announced that Scott R. Wallace, chief executive officer of Citizens Property Insurance Corporation, has agreed to serve as president of its property and casualty division. State-backed Citizens is Florida’s largest homeowners’ insurance company with approximately 1.5 million policies in force and $3 billion in annual revenue.
Wallace has served as Citizens’ president since January 2007. He delivered notice of his resignation in January of this year and agreed to continue there until April 6, 2012. According to Homeowners Choice Chief Executive Paresh Patel, Wallace’s tenure with Homeowners Choice will begin soon after he leaves Citizens. Among his duties will be to serve as president of Homeowners Choice Property & Casualty Insurance Company, the company’s principal operating subsidiary.
“Scott has extensive and wide ranging experience in the insurance industry, including management of Florida’s largest homeowners’ insurance carrier,” said Patel. “We look forward to benefiting from his experience, professional affiliations, and leadership capabilities.”