FTP Acquires Coastal Flood Underwriters, Strengthening Flood Insurance Offerings

FTP, INC., a notable player in the insurance industry, has acquired Coastal Flood Underwriters, LLC, to bolster its flood insurance offerings. This move aligns with FTP's broader strategy of enhancing its specialty insurance offerings through strategic acquisitions and partnerships. Coastal Flood Underwriters, established by Paul E. Papangelou, provides extensive flood insurance solutions, including the National Flood Insurance Program (NFIP), and represents over 19 private flood insurance providers. Papangelou will continue to play a significant role within FTP, leveraging his skills to drive growth and innovation. FTP is set to launch a new Flood Platform, integrating its managed flood programs with other industry-leading products, which underscores its commitment to offering robust and comprehensive flood insurance solutions. The acquisition signifies FTP's proactive approach to addressing increasing flood risks and enhancing client service.