NFP acquires two related property/casualty agencies
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New York-based broker NFP Corp. has acquired property/casualty insurance agencies Weber's Insurance Service Inc. and Weber's Assurance Group L.L.C.
A spokeswoman for NFP declined to comment on the terms of the deal, which closed Feb. 18.
The Prescott, Arizona-based Weber's firms provide personal and commercial lines coverage and group health and welfare products, NFP said in the statement released Monday.
As part of the deal, the Weber's firms will be folded into NFP and assume the NFP name, a spokeswoman for NFP said. Weber's employees are now NFP employees and will continue to operate out of their current office, she said.
Weber's President Bill Weber is now managing director of NFP property/casualty, reporting to Ed Kurowski, regional president of NFP property/casualty, according to the statement.
“WIS' diverse base of business allows us to strengthen our insurance solutions and support our national expansion of NFP property/casualty,” Terrence Scali, executive vice president and CEO of NFP property/casualty, said in the statement. “We're pleased to welcome them to the NFP family.”
NFP's spokeswoman declined to comment on the terms of the deal, which closed Feb. 18.
NFP is the 11th largest broker of U.S. business, according Business Insurance's latest ranking.
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