WRM America Holding Company, a specialty lines P/C insurance and risk management holding company, completed the acquisition of Fidelity National Indemnity Insurance Company (FNIIC), the flood insurance business of Fidelity National Financial.
FNIIC is the nation’s largest provider of federal flood insurance through the National Flood Insurance Program, capturing over 17 percent of the total “Write Your Own” program market in 2010. It offers flood insurance as well as excess flood insurance through its national network of independent agents and brokers.
With the deal now completed, FNIIC will begin operating as a wholly-owned subsidiary of WRM America. FNIIC will continue to offer flood insurance and excess flood insurance to its existing agency partners and will retain its 220 in-house policy processing, customer service, claims management, and marketing professionals.
WRM America stated that combining its expertise in specialty lines insurance with a leading federal flood insurance provider presents growth opportunities for both companies. WRM America said it is anticipating significant synergies emerging from the deal.
Headquartered in Uniondale, N.Y., WRM America Holding Company is a specialty lines P/C insurance and risk management holding company offering services for public and private sector entities. WRM America’s operating companies are: Wright Risk Management, which manages the New York Schools Insurance Reciprocal, the New York Municipal Insurance Reciprocal, and the New York State Municipal Workers’ Compensation Alliance; RMI Consulting; and WRM America Indemnity Co.
Fidelity National Indemnity Insurance Company is the nation’s largest provider of flood insurance, with over 20 years of experience as a leading “Write Your Own” company through the National Flood Insurance Program.
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