Insurance Executives Become Billionaires in Risky Florida Market

A trio of insurance executives have minted billion-dollar fortunes by betting big on a risk few others are willing to touch: Florida’s volatile property and casualty market.

First, it was husband-and-wife duo Bruce and Shannon Lucas, whose combined net worth briefly topped 10 figures in June after shares of their Slide Insurance Holdings Inc. soared 37% in its first three days of trading. On Wednesday, Trevor Burgess saw his wealth reach $1.2 billion as his St. Petersburg-based Neptune Insurance Holdings Inc., which calls itself the country’s largest private flood insurance provider, jumped 24% in its New York debut. ...