NFP Acquires Lenders Risk Services, Inc. and Lenders Risk Management, Inc.
Acquisition expands NFP's current services for financial institutions
NEW YORK – November 27, 2018 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement and individual private client solutions, today announced it has acquired Lenders Risk Services, Inc. and Lenders Risk Management, Inc. (Lenders Risk). The transaction closed on Nov. 1, 2018.
Based in Towson, Maryland, Lenders Risk is a specialty MGU focused on financial services solutions for credit unions and community banks. The firm's core products, including Lenders Single Interest and Mortgage Impairment, provide protection for a lender's interest in its collateral across their loan portfolio. Former principal Rick Kaser will join NFP as senior vice president and Gary Lund will join as vice president.
"Lenders Risk is a great addition to the NFP family," said Kathleen Ayer, Managing Director of NFP's Financial Institutions Program. "Rick and Gary are well-recognized leaders, and their full team bring a roster of complementary strengths. Lenders Risk's unique products and valuable underwriting expertise enhance the set of comprehensive solutions NFP can deliver to current and prospective financial institution clients."
"We couldn't be more thrilled to be a part of the expansion of NFP's Financial Institutions Program and to tap into NFP's existing network of approximately 1,300 community bank clients," said Kaser. "Our clients will continue to be serviced by our staff with the same degree of care they are accustomed to and we look forward to providing them and prospective clients with new resources and opportunities."
NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space.
NFP has more than 4,700 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 named the 2nd largest retirement plan aggregator firm, as ranked by Investment News; the 5th largest US-based privately owned broker, the 5th best place to work in insurance and the 6th largest benefits broker by global revenue by Business Insurance; the 9th largest property and casualty agency by total 2016 P&C revenue and the 9th largest commercial lines agency by total 2016 P&C and commercial lines revenue by Insurance Journal; the 10th largest employee benefits broker by Employee Benefit Adviser; the 11th largest broker of US business by Business Insurance; and the 12th largest global insurance broker by Best's Review.
For more information, visit NFP.com.
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