Alterity Group, a subsidiary of insurance brokerage NFP, reports it has acquired CIC Group, a Buffalo, New York-based commercial insurance agency.
CIC Group principals Timothy McMullen, Gina Teresi and Chris O’Donnell will join Alterity and report to Sharla St. Rose, managing director, Alterity.
In addition to its Buffalo headquarters, CIC Group operates offices in Rochester and New York City.
Founded in 1976, CIC provides lender insurance review services, workers’ compensation, construction risk consulting, and third-party compliance and monitoring.
St. Rose said the deal expands the scope of Alterity’s capabilities beyond employee benefits. “Now, in conjunction with our recent acquisition of Hager Strategic, Inc., Alterity has reinforced its ability to service clients across their employee benefits, risk management, and HR and payroll systems delivery needs,” added St. Rose.
The transaction closed on August 19, 2022.
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Topics Mergers & Acquisitions
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