ShoreOne Insurance Managers has been acquired by Totalis Program Underwriters

Home and flood insurance provider ShoreOne Insurance Managers has been acquired by Totalis Program Underwriters . Terms of the transaction were not disclosed.

Founded in 2019 by Cameron Rhodes and Nick Steffey, ShoreOne will continue to operate as an independent business unit within Totalis and Cameron Rhodes will succeed Nick Steffey as CEO. Rhodes will report to John Mahoney, head of Programs, Totalis.

BrightShore Insurance Company, founded by ShoreOne, is not part of the transaction and will retain its current ownership. BrightShore will continue to support ShoreOne as a key carrier partner, alongside American European Insurance Company and Trisura Specialty Insurance Company.

“Totalis’ underwriting-first philosophy and entrepreneurial culture are a natural fit for ShoreOne. As a long-term capital partner, Totalis enables us to focus on disciplined, profitable growth while continuing to deliver value to our insurer, reinsurer, and distribution partners.” – Cameron Rhodes, ShoreOne.

“Totalis is the ideal partner to support our next phase of growth. I look forward to continuing my involvement with ShoreOne as Executive Advisor, while maintaining my role as Chairman of BrightShore.” – Nick Steffey, ShoreOne.

“We are delighted to welcome Cameron, Nick, and the ShoreOne team to Totalis. ShoreOne has developed an important solution to address a significant protection gap for coastal homeowners. Our platform is designed to empower program businesses like ShoreOne to operate independently while benefiting from shared capital, resources, and strategic support. With our growing portfolio of specialty businesses, Totalis is well positioned to serve the evolving needs of our distribution and carrier partners.” – John Mahoney, head of Programs, Totalis.