Aon US Holdings Inc. has agreed to acquire StoneRiver National Flood Services Inc. from StoneRiver Group.
Financial terms were not disclosed. The acquisition is subject to customary closing conditions.
National Flood Services offers policy administration, claims processing, customer service and agency support for clients in all 50 states and every U.S. territory. It manages 3 million flood policies and $2.3 billion of flood insurance premium annually. The firm has more than 800 employees in offices in Kalispell, Montana; Overland Park, Kansas and Lakeland and Coral Springs, Florida.
Bill Vit, president and CEO of Aon Affinity, said NFS will help Aon Affinity, which is the consumer, association and group program business of Aon Risk Solutions, meet increasing demand for flood insurance expertise and expand in this sector.
Keith Brown, president and CEO of National Flood Services, will remain in his position at National Flood Services, reporting directly to Vit.
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