NEW YORK – December 20, 2017 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty (P&C), retirement and individual private client solutions, today announced that it has acquired Benefits Network, Inc. The transaction closed on October 30, 2017.
Based in Wexford, Pennsylvania, Benefits Network is an employee benefits broker specializing in group benefits and senior products, including Medicare supplements and Medicare Advantage plans. The company has an additional office location in Somerset, Pennsylvania. Principal of the firm David Straight will become a director of NFP’s Corporate Benefits division, reporting to Jim Dustin, a Managing Director of Corporate Benefits at NFP.
"We’re excited to welcome the Benefits Network team to our NFP family," said Ed O’Malley, President of Corporate Benefits and Individual Solutions at NFP. "The deal will expand our footprint into the Pittsburgh benefits marketplace and assist in solidifying our service offerings and capabilities in the Midwest."
"We look forward to integrating our workforce, culture and competencies right away," said Straight. "This transaction will connect our employees and customers with a wealth of resources and offerings from the NFP network. Further, it will strengthen and reinforce our local, customized services for both our existing clients and prospects. We couldn’t be happier."
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 3,800 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 4th largest U.S.-based privately owned broker and the 5th largest benefits broker by global revenue by Business Insurance, the 9th largest property & casualty agency by total 2016 P&C revenue by Insurance Journal, the 11th largest global insurance broker by Best’s Review and the 12th largest broker of U.S. business by Business Insurance.
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