Olympus Insurance homeowners insurance

Overview

Olympus Insurance Company is a Jacksonville-based homeowners insurer that writes only in Florida. It has sold homeowners coverage since 2007 and is known for aiming at the upper end of the Florida market: an HO-5 called Griffin Premier, an enhanced HO-3 package called Spartan, coverage for homes under construction up to $5 million of insured value, and a managed-repair claims program. Policies are sold through independent agents. Olympus Insurance Company is its own NAIC group, and it ranked #60 among U.S. homeowners insurance groups by 2025 direct premiums written, with $383.9 million (0.20% of the national market), according to NAIC market share data. Because the business is all Floridian, that equals roughly 2% of Florida's $18.83 billion homeowners market, based on NAIC data.

Ownership changed at the start of 2026. On January 2, 2026, SageSure, the large coastal managing general agent, closed its purchase of Gemini Financial Holdings Corporation and its Olympus subsidiaries, while Valence Insurance Holdings, the parent of SageSure carrier partners Auros and Interboro, bought the Olympus Insurance Company carrier itself. Olympus says it insures more than 80,000 homeowners with more than $74 billion of insured value.

History

Olympus wrote its first HO-3 policy in 2007. It began a flood partnership with the National Flood Insurance Program in 2008, introduced the Spartan package in 2013, brought claims and underwriting in-house in 2015, added Neptune Flood as a private flood partner in 2018 and launched its Elite Repair Program in 2022. In 2023 it moved its headquarters to Jacksonville. Through 2025 the company was held by Gemini Financial Holdings; Tim Stroble is chief executive and Keith Graham chief financial officer.

SageSure announced the Olympus deal on September 10, 2025 and closed it on January 2, 2026, funded in part by an expanded debt facility with Ares Management. The arrangement mirrors how SageSure works elsewhere: SageSure runs the management and distribution side, while a separately owned carrier, here Valence's Olympus Insurance Company, holds the policies and the capital. SageSure said the combined Florida franchise has about 130,000 in-force policies, roughly $700 million of gross written premium and about 1,500 independent agents. See SageSure and Auros and Interboro for the other parts of that structure.

Homeowners coverage

The standard Olympus homeowners policy is an HO-3 that the company says includes broad water damage coverage, replacement cost on covered roof losses, coverage for docks and boat lifts as other structures, and attached pool screen enclosures settled on a replacement basis without a separate endorsement. Optional add-ons include water and sewer backup, equipment breakdown coverage, buried utility line coverage, a solar panel endorsement, golf cart coverage, animal liability and scheduled personal property.

The Spartan Enhanced Coverage package raises the standard policy's limits sharply. Compared with the standard form it lifts personal liability from $100,000 to $500,000 and medical payments from $1,000 to $5,000, raises personal property to up to 70% of the dwelling limit with replacement cost, and adds $5,000 of water backup and sump overflow, $100,000 of equipment breakdown, identity fraud expense and personal injury coverage. Theft limits on jewelry and furs go from $1,000 to $5,000, and credit card coverage from $500 to $10,000.

Griffin Premier is the HO-5 form: personal property is covered against any cause of loss not specifically excluded, and it adds wind-driven rain, pool enclosures, water backup and liability limits up to $1 million. Condo, townhouse, landlord (DP-3), dwelling under construction and condominium association policies round out the line, and flood coverage is available through Olympus's flood partners.

Every Olympus home policy carries a hurricane deductible that applies to named storms and is usually a percentage of Coverage A. Olympus's own example: a 2% deductible on a $400,000 dwelling limit is $8,000 out of pocket per hurricane season before the policy pays for wind damage.

Discounts and savings

Olympus says it offers several premium credits, naming a qualifying roof type or a roof built in 2002 or newer, home security systems and burglar alarms, upgraded locks, smoke and carbon monoxide detection, fire extinguishers, sprinkler systems, impact-resistant glass and hurricane shutters. As with every Florida insurer, the largest savings usually come from wind mitigation credits documented on the state's uniform inspection form: opening protection, roof-to-wall connections, roof deck attachment and roof shape. Olympus does not publish credit percentages or a multi-policy discount.

Where it sells and recent market moves

Olympus writes only in Florida. The defining move is the SageSure and Valence transaction that closed in January 2026; for policyholders, the carrier on the declarations page is still Olympus Insurance Company, but the company that manages and distributes Olympus policies is now owned by SageSure. Watch renewal paperwork for changes in forms, deductibles or the claims process as the businesses are combined.

Olympus does not appear among the companies on the Florida Office of Insurance Regulation's 2023 to 2025 Citizens takeout lists. Its 2025 direct homeowners loss ratio was 12.1%, according to NAIC data, in a low-loss year for the whole Florida market (OIR put domestic property insurers' combined ratio at 83% for 2025), so it is not a guide to a year with a major hurricane.

Claims

Report a claim through the Insured Portal at insuredportal.oiconnect.com, by phone at 866-281-2242 or by email to [email protected]. Flood claims are reported separately at 866-931-1306. Olympus assigns an adjuster and, through its Elite Repair Program, a Certified Elite Member contractor; it aims to make contact within one business day and to update you every 72 hours. When a contractor is assigned, you pay only the deductible on approved repairs, Olympus pays the contractor directly, and the contractor's repairs carry a 10-year workmanship warranty. Olympus asks policyholders not to sign repair contracts before speaking with the company. Florida law requires insurers to acknowledge a claim within 7 days, begin an inspection within 30 days and pay or deny within 60 days.

Ratings and reputation

Demotech affirmed Olympus Insurance Company's Financial Stability Rating of A (Exceptional) on September 14, 2026, and lists its reinsurance utilization measure at 90% to 100% of premium. Olympus also displays a BBB+ insurer rating from Kroll Bond Rating Agency (KBRA) on its website as of October 2026. Olympus says its catastrophe reinsurance program is bought beyond a 1-in-100-year storm with reinsurers rated A- or better by AM Best or fully collateralized. It has no AM Best rating and is not ranked by J.D. Power.

Who it suits

Olympus suits Florida owners of higher-value homes who want more than a basic HO-3: an HO-5, water backup, higher liability limits and a contractor-managed repair process, bought through a local agent. It suits less well buyers who want a large national brand or an AM Best rating, or who prefer to hire their own contractor after a loss without a managed-repair arrangement.

• Strengths: Demotech A (Exceptional), affirmed September 2026, plus a KBRA BBB+; HO-5 Griffin Premier and the Spartan package with $500,000 liability and water backup; Elite Repair Program with a 10-year workmanship warranty; now backed by SageSure's management platform.
• Weaknesses: Florida only; no AM Best rating, and Demotech's reinsurance utilization measure is 90% to 100% of premium; ownership and management changed in January 2026, so forms and processes may shift; discount amounts are not published.

How to contact Olympus Insurance