QBE’s Praetorian Insurance Company has received approval to withdraw from South Carolina’s homeowners insurance market, affecting 6,937 policyholders and approximately $9.55 million in written premium.

The insurer plans to discontinue writing homeowners coverage and nonrenew all existing homeowners policies in the state. The South Carolina Department of Insurance approved the filing as amended on October 22, following its submission on October 9.

The withdrawal follows a 19.1% rate increase effective May 15, 2025. The filing does not explain the business rationale for the exit.

The approval covers Praetorian’s homeowners multi-peril business in South Carolina. The available filing materials do not specify when policyholder nonrenewals will begin.