Latest News Archives - Narragansett Bay Insurance Company

Tackling Hunger: Narragansett Bay Insurance, a Heritage Company, Works with Community to Raise Nearly $300,000 for Food Bank at Souper Bowl Event

February 18, 2025
No Comments on Tackling Hunger: Narragansett Bay Insurance, a Heritage Company, Works with Community to Raise Nearly $300,000 for Food Bank at Souper Bowl Event

[February 17, 2025] This month, Narragansett Bay Insurance (NBIC), a Heritage Insurance Company, participated in a ‘Souper Bowl of Caring’ event in Cranston, Rhode Island. This annual event, scheduled around the NFL’s Super Bowl Championship, raises money to fight hunger and support food charities nationwide. NBC 10 Rhode Island hosted a telethon to collect donations for the Rhode Island Food Bank as part of the event.

NBIC and other organizations sponsored the event to contribute to the total amount of donations received. Through the event, $284,299 total was raised for the Food Bank. Volunteers at the live telethon, including representatives from NBIC, raised $109,000 of the total.

CEO of The Heritage Companies Ernie Garateix said, “Heritage understands the importance of fostering resiliency and is proud to have representatives from our company, Narragansett Bay Insurance, at a community event to fight hunger. As a Souper Bowl of Caring event, this event plays a big role in the millions of dollars collected annually to fight hunger and support food charities across the country. Heritage is glad to have partners who find new ways to give back to their community and make a difference.”

President of Narragansett Bay Insurance Company Timothy Moura said, “At Narragansett Bay, we are committed to making a positive impact in our communities beyond just providing insurance. I’d like to thank the NBIC employees who volunteered at the telethon and those who consistently volunteer their time to support the Food Bank throughout the year. We were proud to sponsor and take part in this year’s Souper Bowl of Caring event in support of the Rhode Island Food Bank, and we will continue to stand with the community in the fight against hunger for years to come.”

Watch the full clip by clicking the photo above.

Credit: NBC 10 Rhode Island

Christmas Giving! Heritage Companies Across US Fulfills 320 Wishlists Through Salvation Army Angel Tree Program

[December 12, 2024] Today, the Salvation Army will be picking up more than 300 gifts from The Heritage Companies across the US that have come from the Angel Tree program. The Salvation Army Angel Tree program provides an opportunity for community partners to come together to fulfill hundreds of thousands of children’s Christmas wishlists around the country.

Timothy Moura Named President of Narragansett Bay Insurance Company

February 13, 2018

PAWTUCKET, R.I. (February 13, 2018) — Timothy Moura has been named President of Narragansett Bay Insurance Company (“NBIC”) and will be responsible for directing the operations of the company and leading its strategic initiatives to drive continued profitable growth. NBIC is one of the largest coastal homeowners insurance carriers in the Northeast with approximately $330 million in total premiums, and is focused on providing valuable products and services to agents and customers in the markets it serves. Mr. Moura’s new role follows the recent announcement of the acquisition of NBIC by Heritage Insurance Holdings, Inc. (NYSE: HRTG) (“Heritage”). Together, the combined organization operates as a superregional property insurer with almost $1 billion in total premiums across twelve states.

Heritage Insurance Obtains Regulatory Approval to Acquire Narragansett Bay Insurance Company

November 27, 2017

Heritage Insurance Holdings, Inc. (NYSE:HRTG) (“Heritage” or the “Company”), a property and casualty insurance holding company, today announced that it has secured regulatory approval from the Insurance Division of the Rhode Island Department of Business Regulation to proceed with its acquisition of NBIC Holdings, Inc., the parent company of Narragansett Bay Insurance Company (“NBIC”). Heritage has set the closing date for the transaction as of the close of business on November 30, 2017. The combined entity will be a leading super regional personal lines carrier, with a presence in 12 states and over $900 million of gross premiums written.

Heritage to Acquire Narragansett Bay Insurance for $250 million

August 8, 2017

Heritage to Acquire Narragansett Bay Insurance for $250 million to Create Leading Super Regional Personal Lines Carrier

Clearwater, Fla., August 8, 2017 – Heritage Insurance Holdings, Inc. (NYSE:HRTG) (“Heritage” or the “Company”), a property and casualty insurance holding company, today announced that it has signed a definitive agreement to acquire NBIC Holdings, Inc., the parent company of Narragansett Bay Insurance Company (“NBIC”), a leading specialty underwriter of personal residential insurance products and services in states along the Eastern seaboard. The purchase price for the acquisition will be $250 million, subject to post-closing adjustments. The acquisition will be financed with $210 million in cash and $40 million of the Company’s common stock. The combined entity will be a leading super regional personal lines carrier, with a presence in 12 states and over $900 million of gross premiums written. The transaction is expected to be immediately accretive to earnings per share and ROE.