FTP acquires Coastal Flood Underwriters to bolster flood insurance

GlobalData

Mon, Mar 10, 2025, 3:27 AM 2 min read

FTP, a New Jersey-based managing wide bureau (MGA), has acquired Coastal Flood Underwriters for an undisclosed sum.

FTP expects the acquisition to heighten its flood security solutions crossed the US.

Set up successful 2017, Coastal Flood Underwriters was founded by Paul Papangelou, who has expertise successful underwriting, hazard absorption and nationwide bureau training.

The institution offers flood security solutions, representing much than 19 backstage flood insurers and the National Flood Insurance Program (NFIP) and serving clients successful 28 US states.

Coastal Flood Underwriters president and CEO Paul Papangelou said: "Joining forces with FTP, INC. marks an breathtaking caller chapter. Our shared committedness to innovation and customer-focused flood security solutions makes this concern a earthy fit. With FTP's resources and expertise, we volition proceed providing agents and clients with the champion imaginable flood sum options, ensuring that communities and businesses stay protected against expanding flood risks."

FTP president Frank Powell stated: "At FTP, we are ever looking for opportunities to put successful organisations that bring exceptional cognition and work to the security marketplace. Coastal Flood Underwriters has demonstrated a singular quality to present flood security solutions nationwide. This concern allows america to heighten our capabilities and amended service our clients successful an evolving hazard environment."

Later this month, FTP plans to present its Flood Platform, a comparative level that volition integrate FTP's ain managed flood programme with different manufacture flood products.

FTP, which is headquartered successful Old Bridge, New Jersey, has been a supplier of specialty security solutions since 1957.

With entree to much than 100 bearer partners nationwide, FTP offers idiosyncratic and commercialized security products connected some an admitted and non-admitted basis.

"FTP acquires Coastal Flood Underwriters to bolster flood security " was primitively created and published by Life Insurance International, a GlobalData owned brand.

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