FTP, Inc. has made headlines with its recent acquisition of Coastal Flood Underwriters, LLC, a well-respected provider of flood insurance solutions. This deal, announced on March 7, 2025, in Old Bridge, New Jersey, is a significant step for FTP as it aims to enhance its flood insurance offerings across the country.
Coastal Flood Underwriters was founded in 2017 by Paul E. Papangelou, who has built a strong reputation in the flood insurance market. Under his guidance, the company has partnered with over 19 private flood insurance providers and the National Flood Insurance Program (NFIP). Coastal Flood Underwriters serves clients in 28 states, thanks to Papangelou’s expertise in underwriting and risk management.
Papangelou expressed his excitement about joining FTP, highlighting the shared vision for innovation and customer-focused solutions. He believes that this partnership will allow both companies to provide better flood coverage options for agents and clients, especially as flood risks continue to rise.
The acquisition aligns with FTP’s strategy to expand its specialty insurance offerings. In addition to this acquisition, FTP is set to launch its Flood Platform later this month. This new platform will combine FTP’s managed flood program with other leading flood products, making it easier for clients to find the coverage they need.
Frank Powell, the President of FTP, emphasized the importance of this partnership. He noted that Coastal Flood Underwriters has a proven track record of delivering flood insurance solutions nationwide. With this acquisition, FTP aims to strengthen its capabilities and better serve its clients in an evolving risk environment.
Moving forward, Papangelou will play a key role in FTP’s flood team, bringing his valuable experience to drive future growth. This acquisition is a clear indication of FTP’s commitment to meeting the increasing demand for comprehensive flood insurance solutions in light of changing climate risks.
For more information about FTP’s flood products, you can visit their website.