Four Florida insurance companies are slated to assume thousands of policies from Citizens Property Insurance, taking the state-backed insurer, Florida's largest, back to its pre-2007 numbers.

American Integrity, Argus Fire & Casualty, First Home and Landmark One will begin Dec. 17 to "take out" a total of 173,000 policies, the Florida Office of Insurance Regulation said Monday. Affected consumers will be notified Nov. 7, although they can choose to keep their Citizens policies.

Tampa-based American Integrity will take the largest share of the Citizens policies -- 75,000 homeowners, mobile home and fire policies -- during the next six months. Landmark One, of Miami, will take about 50,000 homeowners policies during an 18-month period. Jacksonville-based First Home will immediately take out 30,000 homeowners and fire policies, while Argus, of North Miami Beach, will take 18,000 fire and homeowners policies during the next 18 months.

"[This] is proof that the private insurance industry believes it can succeed and be profitable in Florida," Florida Insurance Commissioner Kevin McCarty said in a news release. "And, consumers will be offered policies at rates that are at or below Citizens' current rates."

In a measure to preserve Florida's private insurance industry, the Florida Legislature created a depopulation program for Citizens that has returned nearly 500,000 policyholders to private insurers since 2003.

Citizens is Florida's largest property insurer. The company had nearly 1.38 million policies as of Sept. 30, according to its Web site.

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By Anika Myers Palm - Sentinel Staff Writer

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