NEW YORK – February 1, 2018 – 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 Heritage Benefits, LLC. The transaction closed effective November 1, 2017.
Located outside of Baltimore, Maryland, Heritage Benefits is a benefits broker that serves corporate clients primarily located in the Mid-Atlantic region. It serves various industries, including manufacturing, defense contractors, municipalities, universities and schools. Principal of the firm Bill Spotts will join as a senior vice president, reporting to Ethan Foxman, the regional managing director for NFP’s Mid-Atlantic region.
"We’re happy to welcome Bill and his seasoned team to our NFP family," said Foxman. "The acquisition expands our footprint into Baltimore, solidifies our benefits offerings and reinforces our ongoing commitment to invest and grow in the region."
"We’re excited to join NFP and drive robust growth for the company’s Mid-Atlantic region," said Spotts. "The deal connects us with NFP’s other offices in the region, enabling us to continue to provide customized benefits services to our existing clients and prospects. In addition, it’s clear that NFP cares about communities as well as the specific clients it serves. Heritage Benefits has long been committed to improving the lives of Baltimore youth and empowering the young people in our city. Aligning with NFP is a great way to match our vision and goal to continue to help our clients as well as our local community."
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 4,200 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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