WRM America Holding Company, a specialty lines property and casualty insurance and risk management holding company, has acquired Fidelity National Indemnity Insurance Company (FNIIC), the flood insurance business of Fidelity National Financial.
FNIIC offers NFIP flood insurance as well as excess flood insurance through its national network of independent agents and brokers, and has consistently achieved an industry-leading renewal rate through its customer-focused approach.
Upon the completion of this aqusition, FNIIC will operate as a wholly-owned subsidiary of WRM America and will continue to be led by Patty Templeton-Jones and Michael Sloane.
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 worked closely with its lead shareholder Aquiline Capital Partners to consummate the transaction, according to company.
WRM America CEO and chairman William Fishlinger said combining federal flood insurance provider with WRM America’s expertise in specialty lines insurance along with building successful public-private partnerships presents extraordinary growth opportunities for both companies.