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Oakbridge partners with Northeast Underwriters to enter Tampa Bay
The partnership keeps Northeast’s St. Petersburg team in place while expanding Oakbridge’s coastal property and condominium association specialty amid Florida’s harder insurance market.
Oakbridge Insurance Agency has partnered with Northeast Underwriters, a St. Petersburg-based commercial insurer specializing in coastal property and condominium association risks, to establish Oakbridge’s first presence in the Tampa Bay market, Insurance Business reported.
Under the deal, Northeast will continue operating from St. Petersburg with its existing client-facing team, while gaining access to Oakbridge’s expanded specialty capabilities and operational resources. Oakbridge CEO Matt James said local market knowledge is essential for underwriting coastal property, and framed the partnership as a way to strengthen what the firm can offer in Florida.
Insurance Business also noted that coastal Florida has become a more difficult property placement environment, following carrier exits, rising reinsurance costs, and repeated hurricane losses. Condominium association coverage has been further affected by state legislative changes in 2022 and 2023 that tightened reserve and insurance requirements, increasing both complexity and demand for specialist brokers.
Northeast Underwriters president Ken Kijowski said the partnership was structured to preserve what he described as the agency’s fundamentals, including continuing client relationships with teams that understand the market. Oakbridge president Trae Vaughan added that the integration approach is designed to keep producers focused on clients, using stronger support behind that work without changing who clients trust.