NFP Corp has acquired McLean Hallmark Insurance Group Ltd, a Toronto-based provider of property and casualty solutions, for an undisclosed amount.
McLean Hallmark specializes in trucking, car dealerships, moving and storage, marine and surety solutions, private client insurance, as well as employee benefits and pension services.
President and CEO Daryn McLean and COO John Belyea will join NFP Canada.
NFP, a New York-based insurance broker and consulting business, said the deal strengthens its specialty capabilities and ability to serve Canadian clients.
NFP was acquired in 2013 by U.S. private equity firm Madison Dearborn Partners for about US$1.3 billion.
NFP Acquires Canada-Based McLean Hallmark Insurance Group Ltd.
Acquisition bolsters NFP’s presence in Canadian property and casualty market.
NEW YORK (PRWEB) July 03, 2019
NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement, and individual solutions, today announced that it has acquired McLean Hallmark Insurance Group Ltd. The transaction closed July 2nd.
Based in Toronto, Ontario, with additional offices in Markham and Mississauga, McLean Hallmark offers unique property and casualty (P&C) solutions, specializing in trucking, car dealerships, moving and storage, marine and surety solutions, high net worth private client insurance, as well as employee benefits and pension services. This acquisition strengthens NFP’s capabilities in these areas while further expanding its ability to serve corporate and individual clients in Canada. Daryn McLean will join NFP Canada as managing director of commercial insurance and John Belyea will join NFP as senior vice president of integration. Both will report to Marty Shaw, president of NFP Canada.
“We are thrilled to welcome a firm with such specialized focus in the P&C industry,” said Marty Shaw. “Daryn, John and their team bring decades of experience in commercial business and specialty product offerings that align well with our focus on growth and delivering value to clients. With their help, we will continue to build out NFP’s Canadian P&C platform.”
“NFP provides us the opportunity to more broadly serve new and prospective corporate and individual clients,” said Daryn McLean. “We continue to pride ourselves on our integrity, ethical standards, and ability to form strong relationships. NFP’s extensive network and marketplace expertise will allow us to expand our client base while maintaining these grounding principles.”
NFP is a leading insurance broker and consultant providing customized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,100 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest US-based privately owned broker, 6th largest benefits broker by global revenue and 7th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).
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