Acquisition expands NFP’s P&C footprint in Southeast
New York, NY (PRWEB) - NFP, a leading insurance broker and consultant providing employee benefits, property and casualty, retirement, and individual solutions, today announced the acquisition of Insurance Specialty Group, LLC (ISG), in a transaction that closed on October 9, 2020.
Based in Atlanta, ISG is a managing general agent (MGA) specializing in providing insurance solutions to the construction industry. The firm focuses on the residential housing market, offering a variety of solutions, including practice, project and wrap-up policies. ISG operates a national construction program focused on commercial general liability and builder’s risk insurance, utilizing a distribution channel of over 250 retail and wholesale brokers. ISG’s team and products remain unchanged through the acquisition. ISG was represented by TAG Financial in the transaction.
Bruce Harrell and Stephen Harrell, principals of the firm, will join NFP as managing directors, and Randolph Roppelt and Elizabeth Davis, also ISG principals, will join NFP as directors. All will report to Tom Gillingham, managing director and head of NFP’s specialty MGA and MGU programs.
“ISG is a fantastic addition and we’re excited to welcome them to NFP,” said Gillingham. “Bruce and Stephen lead a talented team of individuals with extensive experience in the construction industry. Their specialized expertise in the residential home building space complements our existing construction offerings, enhances our ability to help clients manage complex risks, and will be an important growth driver for our business.”
“NFP’s focus on providing well-rounded offerings aligns with our values,” said Bruce Harrell. “Accessing NFP’s depth of resources in the construction industry, and becoming part of a great community of talented leaders, will strengthen our capabilities and help us deliver even more value to our clients.”
“NFP gives us an opportunity to accelerate our growth while continuing to do what we do best,” said Stephen Harrell. “We are excited to join NFP and collaborate with other construction industry experts to provide innovative solutions that align with our clients’ needs.”
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 5,700 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 12th largest global insurance broker (Best’s Review).
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