Mangrove Property Insurance, a technology-driven property insurance company, today announced the launch of Grove Re, its captive reinsurance entity. This strategic move marks a significant milestone in Mangrove’s mission to provide stable, long-term property insurance solutions in underserved markets.

Grove Re will serve as a key component of Mangrove’s reinsurance strategy, allowing the company to retain a portion of the risk it underwrites and build long-term capital efficiency. By establishing its own reinsurance vehicle, Mangrove gains greater control over its risk management framework while reducing dependency on the traditional reinsurance market.

“The launch of Grove Re represents a pivotal step in our growth strategy,” said Josh Gibbons, CEO of Mangrove Property Insurance. “By internalizing a portion of our reinsurance, we are building a more resilient and capital-efficient business that can better serve our policyholders and distribution partners over the long term.”

Grove Re is structured to align with Mangrove’s broader goal of becoming a leading technology-enabled property insurer in catastrophe-exposed regions. The captive reinsurer will initially focus on supporting Mangrove’s existing book of business, with plans to expand its role as the company scales.

“This is about building durability into our model,” said Andrew Levine, President of Mangrove Property Insurance. “Grove Re gives us the tools to manage volatility more effectively and to continue growing in markets where reliable insurance is critically needed.”

Mangrove Property Insurance leverages advanced data analytics and technology to underwrite and manage property risk in regions that have historically been difficult to insure. The company is committed to expanding access to quality coverage while maintaining disciplined underwriting standards.