Transaction Overview
Tower Hill announced the sale of its NFIP Flood book of business to Wright Flood in July of 2018
- Wright serviced, administered and issued NFIP flood coverage for Tower Hill policyholders and agents
- Terms of the agreement were undisclosed
Tower Hill was the 6th largest NFIP Flood writer in Florida, with ~$50 million of DPW in 2017
Tower Hill is one of Florida’s largest residential property insurers
- Represented by more than 850 insurance agencies throughout the state
- Tower Hill has been protecting Florida’s home and business owners for nearly half a century
Wright is a leading WYO carrier and a provider of private flood coverages in the U.S.
- Over $600 million of DPW in 2017
- Network of over 17,000 independent agents and 300 NFIP flood-trained associates nationwide
TigerRisk Capital Markets & Advisory Role
TCMA served as financial advisor to Tower Hill Insurance Holdings
- Provided essential financial and structural advice throughout the process
- Key steps led by TCMA included:
- Provided market insights and data analysis to support terms of the agreement
- Assisted in the preparation of financial presentations for potential partners
- Managed a highly competitive process while marketing the partnership to multiple parties
- Recommended specific terms & conditions to ensure an optimal outcome for all parties
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