GeoVera’s Florida-domiciled subsidiary SafePort Insurance declared an ordinary dividend of nearly $8 million to its parent company, GeoVera Specialty Insurance Company, according to a filing submitted to the Florida Office of Insurance Regulation.

The dividend totals $7,994,449 and was approved by SafePort’s board on May 11, 2026, with payment scheduled on or after the same date, subject to regulatory non-objection requirements.

According to the explanatory memo, the dividend is intended to distribute excess surplus, optimize the company’s capital structure, and maintain financial efficiency while preserving solvency. The filing states that the board reviewed the insurer’s capital position, liquidity, liabilities, and projected business needs before approving the payment.