wright flood insurance and brown and brown

#Wright flood insurance and brown and brown free#

Best said these factors are expected to significantly contribute to the company’s overall profitability. View a propertys past, present, and future climate projections based on peer-reviewed research from the worlds leading flood, fire, and climate modelers. WNFIC derives significant revenue and fee-based income from its book of non-risk-bearing National Flood Insurance Program (NFIP) business, as well as from its excess flood coverage. Offsetting these positive rating factors is the potential concentration of risk derived from excess flood policies, albeit small in nature, and changes in the macroeconomic environment, the rating agency said. Best said the ratings of WNFIC reflect its adequate risk-adjusted capitalization and relatively favorable operating results, as well as governmental support. under review with developing implications.Ī.M. Wrights public entity/program services/specialty operations in New York will report to Tony Grippa, regional vice president, and Wrights flood program. announces the asset acquisition of Brownlee Agency, Inc. has placed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Wright National Flood Insurance Co. Wright Flood is an insurance company that provides federal and excess. enters into agreement to acquire Kentro Capital Limited d/b/a Nexus Underwriting and Xenia Broking Brown & Brown, Inc. The total consideration does not reflect any one-time transaction expenses, according to Brown & Brown.Ī.M.

#Wright flood insurance and brown and brown free#

The transaction will be a cash acquisition (utilizing free cash and existing debt sources) and is not subject to financing conditions. The transaction is expected to close in April of 2014 and is subject to customary closing conditions.

In addition, contingent consideration of up to $37.5 million may be payable if Wright completes certain agreed upon acquisitions prior to closing.

(WNFIC) and $7.5 million for WNFIC statutory surplus, according to Brown & Brown.īrown & Brown said it anticipates the transaction will yield future tax benefits in the amount of $108 million. Florida-based Brown & Brown will pay 587.5 million in cash for Wright's programs business, 7.5 million for Wright National Flood Insurance Co., and 7.5 million for WNFIC statutory. This amount is comprised of cash payments of $587.5 million for the program business, $7.5 million for Wright National Flood Insurance Co. The total net consideration to be paid for the ownership interests of Wright is $602.5 million. Doug Croley Insurance Services Is Your Complete Insurance Solution. Wright’s public entity/program services/specialty operations in New York will report to Tony Grippa, regional vice president, and Wright’s flood program operations will report to Chris Walker, regional executive vice president. Wright’s operations will become part of Brown & Brown’s National Programs Division. The announcement said that Wright’s current leadership team will remain in place and will continue to operate from offices in Uniondale and Albany, New York, and St.