Acquisition provides further entry into Ireland and expands specialty expertise
New York, NY /PRNewswire/ - NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced it has acquired Aiken Insurances Limited (AIL). Dublin-based AIL is a retail and commercial insurance broker who has successfully operated in specialist sectors including professional indemnity/directors' and officers' liability insurance, complex commercial liability and property risks, including unoccupied property, as well as the leisure and entertainment and construction sectors.
In acquiring AIL, NFP will add depth to its current P&C offering in addition to adding new expertise in specialized insurance lines. As wholesale brokers in Ireland for complex risks, Aiken is respected by a network of brokers throughout Ireland and maintains exclusive facilities as a Lloyds of London coverholder. The acquisition also continues the momentum of the ongoing expansion of NFP's P&C capabilities in Europe, which will benefit clients across NFP's business lines.
"NFP aims to be a leader in providing corporate and individual solutions to support employee engagement, physical and financial wellbeing and insurance to safeguard organizations," said Colm Power, director, NFP Ireland. "The addition of Aiken to NFP is our first commercial insurance acquisition in Ireland and rounds out the NFP Ireland offering of employee benefits and consultancy, individual wealth management and commercial insurance, in line with the rest of NFP."
The entire AIL leadership team of William Irwin, Cara Aiken, Stephen Mills, Andrew Quinn and Stephen Devereux will join NFP. They will work with leaders across NFP and will remain fully engaged in the growth of the business and bring additional value to clients.
"We are delighted to welcome Cara, Willie and Stephen, and the whole team to the NFP family," said John Paul Allcock, managing director, UK and Ireland. "Aiken has built a high-quality business on an ethos of care for customers, employees and insurers alike. These shared values make it a perfect fit for NFP and we know they will be a fantastic addition."
"We're thrilled to join NFP," said Irwin, managing director at Aiken. "Our shared strategic vision will enable the close collaboration necessary to drive results. NFP is a fast-growing and dynamic group and we look forward to managing all aspects of our clients' businesses together as we identify new opportunities for them to achieve their goals."
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 6,000 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, 5th best place to work in insurance and 6th largest US-based privately owned broker (Business Insurance); 9th largest commercial lines agency by P&C commercial lines revenue and 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best's Review).
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