NFP Acquires Equias Alliance, LLC
Two Bank-Owned Life Insurance Powerhouses Combine
NEW YORK – November 15, 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 Equias Alliance, LLC. The transaction closed effective November 1, 2017.
With a centralized service center in Bloomington, MN, and regional sales offices across the country, Equias Alliance is an executive benefits consulting firm focused on bank-owned life insurance (BOLI) and executive and director benefit plans. The combined organization now has 1,250 bank clients as well as clients in all 50 states. Equias Alliance principals David Shoemaker, Glenn Blackwood, Todd Andritsch, Ken Derks, Trey Deupree, Jim Olson and Eric Hilgenberg will continue at NFP in their roles as consultants. Becky Pressgrove, as Senior Vice President will continue to oversee technical resources and client service for Equias Alliance, and Linda Radley will continue to be responsible for the financial reporting for Equias Alliance.
"We're excited to add this elite group of industry experts to NFP's Executive Benefits division," said Joe Carpenter, President of Executive Benefits at NFP. "Their collective industry insights, knowledge and decades of experience have helped Equias Alliance set the standard for the design and implementation of BOLI and nonqualified benefits plans, as have their strong technical support of BOLI and nonqualified benefits plans. Having them join our team bolsters our national sales force and marketing and administration capabilities serving the executive benefits market."
"From our very first meeting with NFP, we saw the tremendous value that combining operations would bring to our clients and consultants," said Shoemaker. "This transaction will bring positive effects to our clients through additional offerings via NFP Executive Benefits' existing platform and broader access to additional products and resources. We're thrilled to become a part of NFP to increase our offerings and further distinguish ourselves from the competition."
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.
For more information, visit NFP.com.
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