ShoreOne Acquired by Totalis Program Underwriters — Financial Services M&A

Totalis Program Underwriters, a New York specialty insurance platform within NFP (an Aon company), has acquired ShoreOne Insurance Managers, a Massachusetts-based managing general agent focused on homeowners and flood insurance. The transaction is structured as an add-on acquisition, with terms not disclosed. ShoreOne will continue to operate as an independent business unit within Totalis, and its carrier partner BrightShore Insurance Co. is not included in the deal, retaining its existing ownership.

ShoreOne is known for underwriting coastal homeowners risks and offering a combined homeowners product that incorporates flood coverage, aiming to reduce the need for separate policies in flood-exposed markets. The acquisition is positioned to strengthen Totalis’ presence in underserved, complex niche risks, leveraging ShoreOne’s coastal underwriting expertise and tools for risk selection, analytics, and portfolio management across states including South Carolina, New Jersey, New York, Massachusetts, and Rhode Island.

Operationally, ShoreOne’s leadership will transition as Cameron Rhodes is set to succeed Nick Steffey as CEO and report to John Mahoney, head of programs at Totalis. Steffey will remain involved as an executive advisor, while continuing as chairman of BrightShore. The deal announcement does not specify a closing date or additional financial terms, and BrightShore is expected to continue supporting ShoreOne as a key carrier partner alongside American European Insurance Co. and Trisura Specialty Insurance Co.