NEW YORK – March 29, 2023 – NFP, a leading property and casualty (P&C) broker, benefits consultant, wealth manager and retirement advisor, today announced Tim DeSett has joined the company as executive vice president, P&C. In this new leadership position within the company’s P&C business, DeSett will drive strategy with a focus on organic growth, capturing new business, expanding acquisition opportunities and increasing revenue. He brings extensive strategic leadership capabilities to NFP’s growing P&C business, which generated $740M in revenue in 2022. DeSett will report to Ed O’Malley, executive vice president, head of Insurance Brokerage and Consulting.
This addition comes as Henry Lombardi, whose leadership has transformed NFP’s P&C business into a global leader, sharpens his focus on revenue generation. Lombardi will center his attention on business development, complex risk, strategic accounts, and market and carrier relationships. He will also continue to partner with the current leaders of NFP’s North America Construction and Infrastructure Group to further build out that vertical.
“We’re excited to welcome Tim to NFP and have him build from our strong foundation of people, expertise, capabilities and success,” said Doug Hammond, chairman and CEO, NFP. “As we serve the global needs of our clients, we look forward to Tim collaborating with our executive team, client advisors, subject matter experts and resource leaders to ensure we are attracting the best talent and positioning our teams for continued success. I’m also excited about Henry’s new role and how the business will continue to benefit from his insight, expertise and relationships.”
DeSett joins NFP from AIG, where he served as head of Distribution and Field Operations, North America. In this role, he was responsible for the business development and distribution strategies of all commercial products and industry segments across the US, Canada and Bermuda. Prior to AIG, DeSett was with Lockton, where he served as EVP of risk practices and oversaw their national practice teams.
“Tim is a great addition to NFP,” said O’Malley. “Over the past five years, our P&C business has grown tremendously under Henry’s stewardship, and we are in a terrific position to capitalize on future growth. Tim is an excellent cultural fit who brings extensive experience building brokerage and distribution organizations, and strong technical knowledge. His leadership of our P&C business will drive us toward achieving our full potential.”
“I’m thrilled to join the NFP team and have an opportunity to play a central role in continuing the company’s growth story,” said DeSett. “NFP’s entrepreneurial, client-focused and team-oriented culture is very compelling and puts us in a solid position to bring resources and expertise to our clients that enhance their ability to effectively navigate their risk management objectives.”