Overview
NormanMax Insurance Holdings, Inc. is a Miami-based parametric (re)insurance group that positions itself as a global leader in parametric catastrophe insurance solutions. Founded in September 2022 by Bradley I. Meier, the former founder, chairman, and CEO of Universal Insurance Holdings (NYSE: UVE), NormanMax was created to bridge the natural disaster protection gap using data-driven, technology-led parametric products. The company's name honors Meier's father.
NormanMax operates through multiple entities: NormanMax Insurance Solutions (a licensed MGA and Lloyd's coverholder based in Miami), NormanMax Syndicate 3939 at Lloyd's (the first dedicated parametric natural catastrophe syndicate in the Lloyd's market, managed by Apollo Syndicate Management), and NormanMax Strategic Parametrics Limited (a capital vehicle providing 59% of Syndicate 3939's capacity). The company acquired New Paradigm Underwriters in mid-2024 and FloodFlash, a UK-based parametric flood insurtech with proprietary IoT sensor technology, in early 2025.
Unlike traditional indemnity-based insurance, NormanMax's parametric products trigger payouts based on objective, third-party-verified physical parameters such as wind speed, earthquake magnitude, and flood depth rather than damage assessments. This enables rapid claims settlement in weeks rather than months, with no deductibles, limited exclusions, and transparent coverage. Through Lloyd's Syndicate 3939, NormanMax holds approximately 80 insurance licenses and can write reinsurance business in over 200 territories globally.
Products & Services
Hurricane PM (Parametric Hurricane Insurance)
Parametric hurricane and tropical cyclone insurance that pays out predetermined amounts based on windspeed and storm size triggers selected by the insured.
Key Features
- Payouts triggered by third-party verified wind speed data
- No deductibles, limited exclusions
- Rapid claims process in weeks not months
- Uses WeatherFlow anemometer network for US wind data
- Available for commercial and residential risks
Target Users: Insurance carriers, reinsurers, commercial businesses, residential property owners
Shake and Pay (Parametric Earthquake Insurance)
Parametric earthquake insurance that pays out based on seismicity triggers including magnitude and Peak Ground Acceleration.
Key Features
- Objective trigger-based payouts
- No deductibles, limited exclusions
- Covers apparent and hidden expenses from earthquake damage
- Available for commercial and residential markets
Target Users: Insurance carriers, property owners in seismic zones
FloodFlash Parametric Flood Insurance
Sensor-based parametric flood insurance using proprietary IoT flood depth sensors installed in homes and businesses.
Key Features
- Proprietary IoT flood depth sensors
- Simple trigger: if flood waters reach set depth, payout activates
- Real-time flood water measurement
- Available in UK, US, and other markets
Target Users: Commercial businesses, residential property owners
Parametric Reinsurance (via Syndicate 3939)
Parametric quota share and facultative reinsurance, embedded white-labeled reinsurance, and parametric retrocession products.
Key Features
- Quota share reinsurance scalable to any portfolio size
- Facultative reinsurance for individual risk transfer
- Embedded white-labeled reinsurance for MGA expansion
- Retrocession to protect reinsurers using parametric triggers
Target Users: Insurance carriers, reinsurers, MGAs
At a Glance
- Founded
- 2022
- Headquarters
- Miami, Florida
- Employees
- 11-50
- Funding
- PE-Backed
Category & Focus
- Category
- Specialty Solutions
- Subcategories
- Parametric Insurance Catastrophe Risk Transfer Climate Risk Embedded Insurance
- Insurance Verticals
- P&C Reinsurance Specialty
- Target Customers
- Carriers, Brokers, MGAs
Customers
- Rokstone (global specialty MGA)
- London Underwriters
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Last updated: 2026-03-25