Acquisition adds trade credit insurance solutions to NFP’s growing commercial P&C business
New York, NY (Feb. 10, 2020) – NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, has announced the acquisition of Indemnis Trade Risk Management Limited (Indemnis), in a transaction that closed on December 10, 2019.
Indemnis, headquartered in Toronto, Ontario, Canada with operations in both Canada and the US, is a P&C broker focused on trade credit and political risk insurance. The firm’s consultative approach helps clients protect against catastrophic credit loss, while improving liquidity and financing arrangements, expanding sales safely to new segments, countries, and customers, strengthening trade risk management controls, and managing complex political risks. Tom Leonard, principal of Indemnis, will serve as the practice leader for NFP’s Trade Credit & Political Risk division.
“I’m excited to welcome Indemnis to NFP as we continue to expand our specialized P&C capabilities,” said Henry Lombardi, executive vice president and head of NFP’s Property and Casualty division. “As we continue to grow our presence in North America, we are working to enhance the support we provide to clients with global operations. The solutions that Tom and his team are able to deliver, will make our clients more resilient and support their ability to grow their businesses.”
“We are thrilled to join NFP and contribute to their continued growth in the specialty P&C space,” said Tom Leonard, principal of Indemnis. “We are proud of what we’ve built and look forward to extending the reach of our specialized expertise in collaboration with NFP offices across the US and Canada.”
NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,600 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 6th largest US-based privately owned broker, and 8th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).
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SOURCE: NFP Corp.Tags: Acquisition, NFP, Property/Casualty (P&C) insurance