NFP, the New York City-based property/casualty insurance broker and consultant, has acquired Irish-owned ReSure Corporate Brokers, a specialist commercial insurance broker.
Financial details of the transaction were not disclosed.
This latest announcement marks NFP’s third acquisition in Ireland within the past two years, having acquired local brokers HMP Insurance and Pension Advisors and Aiken Insurance Ltd.
Established just over two years ago, Dublin-based ReSure currently employs 14 people and is among the fastest growing corporate insurance brokers in the Irish market, generating gross written premiums valued at more than €24 million ($26.2 million) in 2021. To date, the business has focused on building and enhancing its specialist capabilities by supporting complex risk placements of restructuring, recycling, real estate, construction, domiciliary homecare and financial lines among others.
ReSure’s directors, Aidan Brady, Ross Barron and Garry Fitzroy, have built their expertise over two decades working in the global and local insurance broking environment. The directors and full team at ReSure will continue in their roles and remain fully engaged in the growth of the business, working with NFP to bring added value to new and existing clients, said NFP in a statement.
“We have acquired a great business with great clients, and a group of extremely talented brokers and client managers. Most importantly, we are confident they will fit into the culture of NFP, which encourages independence, entrepreneurial spirit, ethics and a focus on doing the right thing for employees and clients,” commented John Paul Allcock, UK and Ireland managing director at NFP.
“Our ambition at ReSure is to continue our incredible growth journey to scale the business and support our clients as they expand into new markets and sectors. In joining the NFP family, we also see great value in integrating our insurance solutions and services with NFP’s corporate benefits and wealth management clients,” said Aidan Brady, managing director at ReSure.
With more than 6,600 global employees, NFP is the fifth largest benefits broker by global revenue, seventh largest U.S.-based privately owned broker.
Source: NFP
Topics Mergers & Acquisitions Agencies
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