NFP, a provider of benefits, property and casualty and life insurance and wealth management services, has expanded its property and casualty business in New England with the acquisitions of Poulos Insurance, Inc and Altus Specialty Group, LLC. Poulos, which has 11 offices in Vermont, closed on August 4, 2014 and ASG closed on August 8, 2014. Commenting on today’s announcement, Douglas W Hammond, Chairman and Chief Executive Officer of NFP, said: “Poulos and ASG have a combined New England presence which expands NFP’s national standing and continued dedication to growing our property and casualty insurance practice. We are excited to welcome these high quality firms and all their employees to the NFP family.”
The two firms bring unique specialties to NFP’s comprehensive property and casualty offerings. Poulos, with 19 office locations located throughout Vermont, New Hampshire and Massachusetts, is an independent full-service property and casualty firm providing local businesses and individuals throughout New England with personal and commercial lines coverage.
ASG is headquartered in Boston, MA and provides services in commercial lines, employee benefits and private client risk management. The firm enhances NFP’s Boston based insurance brokerage services to middle-market business clients.
Terrence Scali, CEO of NFP Property and Casualty comments: “As we continue to expand our NFP presence nationally, one of NFP’s main objectives remains enhancing property and casualty offerings to clients. The addition of Poulos and ASG firmly underline the goals and yield additional expertise across the country.”
National Financial Partners Corp. (NFP), along with its benefits, property and casualty and life insurance, and wealth management businesses, provides diversified advisory and brokerage services to companies and high net worth individuals.
NFP operates in three business segments. The Corporate Client Group provides corporate and executive benefits, property and casualty insurance, and retirement plans. The Individual Client Group provides retail and wholesale life insurance brokerage and wealth management advisory services. Advisor Services Group supports independent financial advisors by offering broker/dealer and asset management products and services.
Most recently, NFP was ranked by Business Insurance as the fifth-largest benefits broker by global revenue, fourth-largest U.S.-based privately owned broker and 11th-largest Largest Broker of U.S. Business. Plan Sponsor has named NFP the fifth-largest executive benefits provider of nonqualified deferred compensation plans by number of plans. The company also operates a top 10 independent broker/dealer as ranked by WealthManagement.com.
Source: August 14, 2014 NEW YORK--(BUSINESS WIRE)--NFP