Aon Affinity, the consumer, association and group program business of Aon Risk Solutions, the global risk management business of Aon plc (AON: Quote), Friday announced that Aon US Holdings Inc, a subsidiary of Aon, has agreed to acquire StoneRiver National Flood Services Inc from StoneRiver Group L.P.
According to Aon, National Flood Services is a leader in U.S. flood insurance processing and technology. Financial terms were not disclosed. The acquisition is subject to customary closing conditions.
"The acquisition of National Flood Services will allow Aon Affinity to meet the growing client demand for enhanced flood insurance solutions and expertise in the U.S.," said Bill Vit, president and CEO of Aon Affinity.
"By combining Aon Affinity's extensive knowledge of insurance solutions and affinity program management capabilities with National Flood Services' industry-leading flood risk assessment technology for commercial and residential markets, Aon Affinity is expected to continue to expand its flood solutions to a larger client base within this growing sector."
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by RTT Staff Writer
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