NEW YORK – July 24, 2017 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty (P&C), retirement and individual private client solutions, announced today it has acquired Associated Insurance Centers, LLC (AIC). The transaction closed on June 21, 2017.
Headquartered in Onancock, Virginia, AIC is a full-service P&C insurance agency providing commercial and personal coverage to businesses and individuals throughout the Mid-Atlantic region. Denny Mears, president of the firm, will join NFP as a managing director, reporting directly to Terry Scali, CEO of NFP P&C. The collective local management teams of Michael Wheaton, Joe Drury, Rick Raley, Dustin Mears, Kylie Mears and Steve Zumpano will all join NFP and continue to lead their respective offices.
"We’re thrilled to welcome Denny, his leadership team and almost 100 employees across 15 office locations to the NFP family," said Scali. "This acquisition allows NFP to strategically expand its presence in the Mid-Atlantic region, with a focus on Virginia, West Virginia and Maryland. AIC brings a wealth of expertise in the commercial and personal space and a strong servicing platform that we’re thrilled to utilize."
Mears commented, "Joining NFP gives AIC a new range of access, offering more sophisticated marketing resources and capital necessary to grow our platform. We are excited to join a premier firm like NFP, strengthening our current offerings and delivering added value to the Mid-Atlantic region."
At NFP Corp., our solutions and expertise are matched only by our personal commitment to each client’s goals. We’re a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates.
NFP has more than 3,400 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients’ needs. We’ve become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was ranked the 2nd fastest-growing US large-group employee benefits brokers by Employee Benefit Adviser. In addition, Business Insurance ranked us as the 5th largest global benefits broker by revenue, the 4th largest U.S.-based privately owned broker and the 11th largest broker of US business. PlanSponsor ranked us the 5th largest executive benefits provider of nonqualified deferred compensation by number of plans, and we were ranked 11th in personal lines P&C revenue by Insurance Journal.
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