Coastal Flood Underwriters Joins Forces with FTP, INC. in Strategic Acquisition

Deal News | Mar 07, 2025 | EIN

Coastal Flood Underwriters Joins Forces with FTP, INC. in Strategic Acquisition

FTP, INC., a reputable Managing General Agency (MGA) based in New Jersey, has announced its strategic acquisition of Coastal Flood Underwriters, LLC, a prominent provider of flood insurance solutions founded by Paul E. Papangelou in 2017. Known for its expertise in underwriting, risk management, and client-focused services across 28 states, Coastal Flood Underwriters strengthens FTP's commitment to delivering exceptional flood insurance offerings. This acquisition aligns with FTP's long-term strategy to enhance its specialty insurance capabilities and demonstrates its dedication to addressing increasing climate risks. By integrating Coastal Flood Underwriters into its operations, FTP aims to broaden its impact, launching its innovative Flood Platform this month to better serve its nationwide clientele. The partnership will leverage the skills and leadership of Paul Papangelou, ensuring robust growth and superior service delivery, catering to the evolving needs in the flood insurance industry.

Sectors

  • Insurance
  • Mergers and Acquisitions

Geography

  • United States – Both FTP, INC. and Coastal Flood Underwriters operate nationwide in the United States, providing services across multiple states.

Industry

  • Insurance – The article focuses on the acquisition of Coastal Flood Underwriters by FTP, INC., both of which operate within the insurance sector, particularly specializing in flood insurance solutions.
  • Mergers and Acquisitions – This industry classification is relevant due to the article discussing the strategic acquisition of Coastal Flood Underwriters by FTP, INC.

Financials

    Participants

    NameRoleTypeDescription
    FTP, INC.Bidding CompanyCompanyA multi-generational, independent Managing General Agency (MGA) and Wholesale insurance provider based in New Jersey, known for offering specialty insurance solutions.
    Coastal Flood UnderwritersTarget CompanyCompanyFounded in 2017, this company specializes in flood insurance solutions and represents multiple private providers along with the National Flood Insurance Program (NFIP).
    Paul E. PapangelouPresident & CEO, Coastal Flood UnderwritersPeopleFounder of Coastal Flood Underwriters, known for his expertise in underwriting, risk management, and agency training.
    Frank PowellPresident of FTP, INC.PeopleLeader of FTP, INC., involved in strategic expansion of the company's insurance offerings.