A Timeline of the Lighthouse Insurance Collapse

Lighthouse Insurance

The collapse of Lighthouse Insurance is a tale of financial mismanagement, alleged fraud, and the downfall of a once-prominent company. Central to this narrative are key figures such as Patrick L. White, the former President and CEO, and his father Lawrence E. White, the former owner of Lighthouse Insurance Companies. Their alleged actions, along with those of TigerRisk representatives Tim Fox (VP at TigerRisk), Kyle Menendez (Partner at Howden Tiger and Head of Reinsurance Broking, NYC), and Jarad Medea (Head of Howden Capital Markets & Advisory), together played significant roles in the company’s downfall. 

This timeline will delve into the series of events that led to the collapse, from early financial struggles and significant losses to the devastating impact of Hurricane Ida and the eventual liquidation of Lighthouse Insurance. We’ll explore how these individuals allegedly misled investors, concealed crucial financial information, and ultimately contributed to the collapse that left thousands of policyholders in Florida and Louisiana without insurance coverage. Join us as we unpack the intricate details of this financial debacle, revealing the broader implications and consequences of corporate deception in the insurance industry.

2018-2020: Early Struggles and Losses

  • 2018-2019: Lighthouse Insurance began facing significant financial difficulties, reporting considerable losses over these years. Despite the challenges, the company continued its operations and sought additional capital investments.
  • 2020: The financial troubles intensified as Lighthouse Insurance reported a net loss of $72 million. This staggering loss was exacerbated by three major storms hitting Louisiana, further straining the company’s resources​​.

July 2021: Conservation Proceedings

In an effort to stabilize Lighthouse Insurance, the Louisiana Department of Insurance placed the company into a confidential conservatorship. This move was designed to give the company time to find potential buyers and address its financial issues. However, this critical information was not disclosed to potential investors​​.

August 2021: Hurricane Ida

Hurricane Ida struck Louisiana in August 2021, causing extensive damage and pushing Lighthouse Insurance deeper into financial distress. The company’s projected losses from the hurricane exceeded $300 million, further complicating its financial recovery​.

September 2021: Financial Instability

As the financial situation worsened, Demotech, a financial rating agency, planned to downgrade Lighthouse’s financial strength rating due to the escalating losses from Hurricane Ida. Despite these dire circumstances, Lighthouse’s management, led by Patrick White, continued to seek additional investments​ ​.

November 2021: Investment from Outside Creditor

An outside creditor decided to invest $65 million in Lighthouse Insurance in November 2021. According to court documents, this investment was made based on assurances from Lighthouse’s management, including Patrick White, and representatives from TigerRisk, such as Tim Fox, Kyle Menendez, and Jarad Medea. These assurances claimed that the company’s losses were manageable and covered by reinsurance​​.

Early 2022: Disclosure of Financial Distress

In February 2022, Patrick White informed investors that Lighthouse was in financial distress. This revelation came just months after securing the investment from the outside creditor group. In March 2022, Demotech withdrew its financial rating for Lighthouse, and by April, the Louisiana Commissioner placed the company into liquidation proceedings​.

Impact on Policyholders

The collapse of Lighthouse Insurance had far-reaching consequences, leading to thousands of homeowners in Florida and Louisiana losing their insurance coverage in the spring of 2023. This situation highlighted the broader impact of the company’s financial mismanagement and the alleged fraud orchestrated by its leadership and associated entities​​.

Key Figures in the Scandal

Lawrence E. White

Lawrence White, the father of Patrick White, is a central figure in the allegations. As the former owner of Lighthouse Insurance Companies and the principal of White Family Enterprises, Lawrence was involved in the founding and investment of One Florida Bank. This bank received a significant portion of the misappropriated $65 million, which is a focal point of the fraud allegations​.

Patrick L. White

Patrick White, the former President, CEO, and Director of Lighthouse Insurance Companies, played a pivotal role in the negotiations with the outside creditor group. He is accused of deliberately withholding critical financial information about the company’s deteriorating state, leading to the investment under false pretenses. 

Tim Fox, Kyle Menendez, and Jarad Medea

These representatives from TigerRisk, now Howden Re, are also implicated in the fraud. Tim Fox, Kyle Menendez, and Jarad Medea are accused of misrepresenting the financial stability of Lighthouse Insurance, reassuring investors about the company’s stability despite knowing the true extent of its financial problems​​.


The collapse of Lighthouse Insurance serves as a stark reminder of the dangers of financial mismanagement and alleged corporate fraud. The actions of Patrick L. White, Lawrence E. White, and the representatives from TigerRisk—Tim Fox, Kyle Menendez, and Jarad Medea—illustrate the complexities and far-reaching consequences of deception within the insurance industry. 

This case underscores the importance of transparency and integrity in financial dealings, highlighting the severe impact on both policyholders and investors when these principles are disregarded. The downfall of Lighthouse Insurance not only left thousands without coverage but also exposed the vulnerabilities in regulatory oversight and corporate governance​. 

Article Editor

Article Editor

Dale Mills is a freelance journalist with a passion for uncovering the stories that matter most. With over 10 years of experience in the field, Dale has a talent for investigating complex issues and distilling them into clear and concise reports. His writing is insightful and thought-provoking, providing readers with a deeper understanding of the world around them. Whether covering breaking news or in-depth features, Dale brings a unique perspective and a commitment to accuracy to his work. He is dedicated to impartial and ethical reporting, delivering the news with a sense of responsibility and a passion for the truth.