Investment firm acquires flood insurance services provider from Aon
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PEAK6 Investments L.P. has acquired National Flood Services from Aon P.L.C., PEAK6 said in a statement Monday.
Terms of the transaction were not disclosed.
NFS is a provider of business process services in flood insurance, according to the statement. The company provides services including technology platforms and data and analytics, according to its website.
The company employs 550 supporting some 87,000 active flood agents managing roughly 1.8 million flood policies in force and $1.5 billion of National Flood Insurance Program premium annually, the statement said.
“We see significant opportunity to leverage NFS’s deep expertise and longstanding client relationships to further strengthen its presence in the flood insurance market,” George Ruhana, a partner at PEAK6 Investments, said in the statement.
Aon retained its private flood insurance business consisting of NFS Edge, a managing general agent and the provider of EZ Flood, the statement said.
“As we considered the next phase of the journey for both Aon and NFS, we sought to identify a new owner for NFS who would bring significant operational capabilities, IT innovation, and capital to drive growth for the business and its clients,” said Liam Caffrey, CEO of Affinity for Aon.
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