FTP, INC. Announces Strategic Acquisition of Coastal Flood Underwriters

PR Newswire

OLD BRIDGE, N.J., March 7, 2025

OLD BRIDGE, N.J., March 7, 2025 /PRNewswire/ -- FTP, INC. announced today its acquisition of Coastal Flood Underwriters, LLC, a premier provider of flood insurance solutions. This strategic move strengthens FTP's commitment to delivering comprehensive and tailored flood insurance solutions throughout the country.

Founded in 2017 by Paul E. Papangelou, ANFI, Coastal Flood Underwriters has earned a reputation as a trusted leader in the flood insurance market. Under Papangelou's leadership, the company represents over 19 private flood insurance providers, along with the National Flood Insurance Program (NFIP). His expertise in underwriting, risk management, and nationwide agency training has positioned Coastal Flood Underwriters as a key player in the industry, serving clients across 28 states.

Paul Papangelou, President & CEO of Coastal Flood Underwriters, shared his enthusiasm for the acquisition:

"Joining forces with FTP, INC. marks an exciting new chapter. Our shared commitment to innovation and customer-focused flood insurance solutions makes this partnership a natural fit. With FTP's resources and expertise, we will continue providing agents and clients with the best possible flood coverage options, ensuring that communities and businesses remain protected against increasing flood risks."

The acquisition aligns with FTP's long-term strategy of expanding its specialty insurance offerings through strategic partnerships and underwriting expertise. In addition to strengthening its position in the flood insurance market, FTP is launching its Flood Platform later this month--an innovative comparative platform that integrates FTP's own managed flood program alongside other industry-renowned flood products.

"At FTP, we are always looking for opportunities to invest in organizations that bring exceptional knowledge and service to the insurance marketplace," said Frank Powell, President of FTP, INC. "Coastal Flood Underwriters has demonstrated a remarkable ability to deliver flood insurance solutions nationwide. This partnership allows us to enhance our capabilities and better serve our clients in an evolving risk environment."

Paul will play a pivotal role in the FTP flood team moving forward, bringing his expertise and leadership to drive future success and growth.

This acquisition reinforces FTP's commitment to meeting the rising demand for comprehensive flood insurance solutions amid evolving climate risks. Together, FTP and Coastal Flood Underwriters will continue to empower agents and clients with innovative products, enhanced service, and cutting-edge technology.

To learn more about FTP, Inc. Flood products visit ftpins.com/flood.

About FTP, INC.

FTP, Inc. is a multi-generational, independent Managing General Agency $(MGA)$ and Wholesale insurance provider headquartered in Old Bridge, New Jersey. Since its founding in 1957, FTP, Inc. has been a trusted leader in specialty insurance solutions, fostering strong partnerships with best-in-class carriers to ensure that every risk is managed with the highest level of service and expertise. With access to over 100 carrier partners nationwide, FTP, Inc. offers a comprehensive portfolio of personal and commercial insurance products across both admitted and non-admitted basis, delivering prompt, reliable, and tailored solutions to meet the diverse needs of its clients. To learn more about FTP, INC visit FTPins.com.

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SOURCE FTP, INC.

(END) Dow Jones Newswires

March 07, 2025 17:34 ET (22:34 GMT)