TDC Risk Management and NEBCO Insurance Services, which is backed by Stone Point Capital LLC, have agreed to merge. No financial terms were disclosed. Headquartered in Maumee, Ohio, TDC is a property and casualty insurance agency while Greenwich, Connecticut-based NEBCO is a boutique insurance agency for high-net worth individuals and businesses.
MAUMEE, Ohio, Aug. 29, 2017 /PRNewswire/ — TDC Risk Management, with offices in Maumee, Ohio and Phoenix, Arizona, as well as employees in five other states including California, Indiana, Illinois, Maryland, and Kentucky, and NEBCO Insurance Services, LLC, with offices in Greenwich, Connecticut; Palm Beach and Naples, Florida; and New York, have announced a definitive merger. The combination brings together two recognized industry leaders, specializing in personal and commercial risk management solutions for affluent and high net worth individuals and families. Their mutual focus in this space combined with sharing a commitment to client service and independent access to best-in-class insurance companies brought the two firms together.
“I have known Cleves Delp, Jim Schwarzkopf, and the TDC Risk Management team for quite some time,” says John Paolini, CEO of NEBCO Insurance Services. “Together they have built a team and culture that perfectly aligns with our core values: personalized client service, holistic risk management solutions, and continuous investment in team development. Coupled with their complementary footprint and extensive experience in the high net worth sector, these attributes make TDC Risk Management the perfect partner.”
The merger of equals, announced earlier today, will combine the groups into a national organization that will be renamed in the coming months. “Today marks a monumental event in our firm’s history,” says Cleves Delp, founder of TDC Risk Management. “By joining together in co-ownership with NEBCO and Stone Point Capital, and leveraging the strength and intellectual capital of our existing teams, we’ll be even better positioned to serve our clients both present and future.”
Jim Schwarzkopf, TDC Risk Management Principal added, “Our two firms share a passion for providing clients with products and solutions that meet each unique need and circumstance.” Greg Jones, Chief Operating Officer of TDC Risk Management added, “While our name will change, our commitment to deliver best-in-class service and expert advice to our clients will not. We couldn’t be more excited to join forces with John and the NEBCO team.”
NEBCO and TDC Risk Management plan to launch their new brand toward the end of 2017 and will continue to focus on providing personal and commercial insurance solutions for family offices, successful business owners, high profile executives, athletes and entertainers, and sophisticated collectors of fine art, wine, and automobiles.
About TDC Risk Management
TDC Risk Management is an independent property and casualty insurance agency representing over 20 insurance companies. Headquartered in Maumee, Ohio, TDC Risk Management operates on a national platform, with associates throughout the country and is licensed for property and casualty insurance in all 50 states. TDC’s sophisticated team of professionals access best-in-class markets to help ensure its valued clients benefit from competitive, customized insurance programs. TDC is the exclusive servicing agent of the Barrett-Jackson endorsed insurance program and www.insureyourwine.com. The agency addresses the unique risk management exposures of America’s most successful individuals, families, and closely held businesses.
Cleves Delp is the majority shareholder of TDC Risk Management and Executive Director of a high-end life insurance group. Cleves is also a principal in an investment advisory firm and has a beneficial ownership interest in a family office practice.
For more information, please visit www.tdcriskmanagement.com.
About NEBCO Insurance Services
Founded in 1979, NEBCO Insurance Services is a boutique insurance agency serving the needs of high net worth individuals and businesses throughout the nation. Headquartered in Greenwich, Connecticut, and with offices in Palm Beach, Naples, and New York, the independent agency maintains licenses in all 50 states, allowing it to serve as a common advisor for clients with high-value homes in multiple locations. NEBCO’s team of risk advisers works closely with family offices, wealth managers, trust and estate attorneys and CPAs to best customize and protect clients’ assets and lifestyles. Stone Point Capital, a private equity firm based in Greenwich, Connecticut, acquired NEBCO in January 2013.
For more information, please visit www.nebco.net.
About Stone Point Capital LLC
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, Conn. The firm has raised and managed seven private equity funds — the Trident Funds — with aggregate committed capital of approximately $19 billion. Stone Point targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies.
For further information, please visit www.stonepoint.com.