ShoreOne Insurance Managers, Inc. has been acquired by Totalis Program Underwriters, according to a recent announcement from both organizations. The transaction brings ShoreOne into the Totalis platform while maintaining its existing structure and leadership continuity. Terms of the deal were not disclosed.
Leadership and Organizational Structure
ShoreOne will continue to operate as an independent business unit within Totalis. Cameron Rhodes, co-founder of ShoreOne, will assume the role of chief executive officer, succeeding co-founder Nick Steffey. Rhodes will report to John Mahoney, head of Programs at Totalis.
Mahoney welcomed the ShoreOne team and emphasized the company’s role in addressing a protection gap for coastal homeowners. Rhodes noted that Totalis’s underwriting-first philosophy and entrepreneurial culture align with ShoreOne’s approach. He added that Totalis provides long-term capital support, allowing ShoreOne to focus on disciplined, profitable growth while continuing to serve insurer, reinsurer, and distribution partners.
Steffey will remain involved with ShoreOne as Executive Advisor. In addition, he will continue his role as chairman of BrightShore Insurance Company.
ShoreOne’s Market Focus and Capabilities
ShoreOne, founded by Rhodes and Steffey, offers a homeowners insurance product that integrates comprehensive flood coverage. The company serves coastal markets in South Carolina, New Jersey, New York, Massachusetts, and Rhode Island.
The ShoreOne product combines traditional homeowners coverage with flood insurance into a single policy. This approach addresses a coverage gap that often requires homeowners to secure multiple policies. ShoreOne distributes its policies through independent insurance agents with technical expertise in coastal risk.
The company supports its underwriting strategy through advanced analytics, proprietary risk-selection tools, and disciplined portfolio management. These capabilities allow for more precise pricing and underwriting performance in flood-exposed markets.
ShoreOne wrote its first policy in 2021. It is backed by reinsurers and insurance-linked securities markets. The company also emphasizes experienced leadership and proprietary technology in its operations.
Role of Carrier Partners
BrightShore Insurance Company, which ShoreOne founded, is not included in the transaction and will retain its current ownership. However, BrightShore will continue to support ShoreOne as a key carrier partner. American European Insurance Company and Trisura Specialty Insurance Company will also remain carrier partners.
Totalis Platform and Strategy
Totalis Program Underwriters operates as an integrated platform focused on specialty insurance solutions in complex and underserved market segments. The company supports program businesses by providing shared capital, resources, and strategic support while allowing them to operate independently.
Mahoney stated that Totalis continues to expand its portfolio of specialty businesses. He noted that the platform is positioned to meet the needs of distribution and carrier partners as market demands change.
Totalis emphasizes disciplined underwriting, customer service, and long-term profitability across its programs. The organization also focuses on expanding its expertise and capabilities to support business growth and address complex risks.
About ShoreOne Insurance Managers
ShoreOne Insurance Managers, Inc. focuses on addressing coverage gaps for flood-exposed coastal homeowners. The company offers a single policy that combines traditional homeowners coverage with flood protection. It distributes policies through independent agents and relies on reinsurance and capital markets support. ShoreOne integrates leadership experience, proprietary technology, and a family-oriented business approach in its operations.
About Totalis Program Underwriters
Totalis Program Underwriters provides specialty insurance solutions through a scaled and integrated platform. The company works across multiple industries and focuses on underserved market segments. Its programs emphasize underwriting expertise, customer service, and sustainable profitability for distribution partners, carrier partners, and insureds.
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