NFP Corp has acquired Mass Insurance Brokers Ltd and Easyway Insurance Brokers Inc (Mass), together a Markham, Ontario-based property and casualty (P&C) insurance brokerage.
Terms weren’t released for the deal, which closed in December.
Mass President and CEO Greg Dunn will join NFP as a managing director overseeing personal lines and small commercial lines.
NFP, a New York-based insurance broker and consulting business, said the acquisition expands its P&C offerings across Canada.
Established in 1998, NFP was acquired in 2013 by U.S. private equity firm Madison Dearborn Partners (MDP) for about US$1.3 billion. The company’s other backers include HPS Investment Partners.
NFP Acquires Leading Ontario-Based Property and Casualty Brokers Mass Insurance Brokers Limited and Easyway Insurance Brokers Inc.
Acquisition extends NFP’s growing insurance brokerage and consulting business across Canada
NEW YORK (PRWEB) February 19, 2019
NFP, a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement, and individual private client solutions, today announced that it has acquired Mass Insurance Brokers Limited and Easyway Insurance Brokers Inc. (collectively known as Mass). The transaction closed effective Dec. 24, 2018.
Based in Markham, Ontario, with additional offices across the province of Ontario and an office in Montreal, Mass is a leading property and casualty insurance brokerage. Their group, affinity and individual coverages range from custom home products through high-risk auto policies. They also specialize nationally in the niche of equestrian insurance through Henry Equestrian. This acquisition expands NFP’s property and casualty offerings across Canada through a well-connected brokerage that has provided individualized service for over 30 years. Mass prides itself not only on its long lasting personal relationships with clients, but also on building and fostering key relationships with Canada’s top insurance carriers. Mass President and CEO Greg Dunn will continue on the leadership team, joining NFP as a managing director overseeing personal lines and small commercial lines. Randy McGlynn will become a director of business development. Dunn and McGlynn will report to Marty Shaw, president of NFP Canada.
“We’re thrilled to welcome the entire Mass team to the NFP family,” said Shaw. “Their strong leadership team, industry expertise and presence in the Canadian market will help us establish an even greater footprint across the country’s largest provinces.”
“This acquisition couldn’t have come at a better time. Embarking on this new relationship with NFP, we enter 2019 with even more momentum than the previous year,” said Dunn. “The expansive list of capabilities and resources that NFP provides benefits our long-standing clients and will help boost our service menu to appeal to prospective clients.”
“We go to great lengths to ensure our clients get the most comprehensive coverage along with a premier level of service,” said McGlynn. “We couldn’t be happier to join NFP, an international brokerage and consulting business that matches this commitment.”
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 6th largest benefits broker by global revenue and the 7th best place to work in insurance by Business Insurance; the 10th largest property and casualty agency by total 2017 P&C revenue and the 10th largest commercial lines agency by total 2017 P&C and commercial lines revenue by Insurance Journal; 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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