NFP Buys Canada Political Risk and Trade Credit Broker, Indemnis Trade Risk Mgmt

NFP, the New York City-based insurance broker and consultant, announced the acquisition of Indemnis Trade Risk Management Ltd.

Financial details of the transaction, which closed on Dec. 10, 2019, were not disclosed.

Indemnis, headquartered in Toronto, Ontario, Canada, with operations in both Canada and the U.S., is a property and casualty (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, said NFP in a statement.

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 Leonard at 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 U.S. and Canada.”

Source: NFP

Topics Mergers & Acquisitions Agencies Property Casualty Canada