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17 June 2014
Chicago
Reporter Stephen Durham

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Aon to acquire flood specialist

Aon US Holdings is buying StoneRiver National Flood Services and related entities from StoneRiver Group.

Financial terms of the deal were not disclosed and the acquisition remains subject to customary closing conditions.

National Flood Services provides US flood insurance processing and technology.

"The acquisition of National Flood Services will allow Aon to meet the growing client demand for enhanced flood insurance solutions and expertise in the US," said Bill Vit, president and CEO of the consumer, association and group programme business of Aon Risk Solutions, Aon Affinity.

"By combining Aon Affinity's extensive knowledge of insurance solutions and affinity programme 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."

Aon Affinity is a provider of customised insurance and voluntary benefits for large groups such as associations, franchises and organisations with a common profession, interest, transaction or event.

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