NFP, a New York City-based provider of employee benefits, property/casualty insurance, retirement and wealth management services, announced today its acquisition of BWD Group LLC in Plainview, New York. Terms of the transaction were not disclosed.
NFP said the BWD acquisition would allow NFP to significantly expand its national property/casualty insurance capabilities and its Northeast employee benefits resources. BWD offers property/casualty insurance and employee benefits brokerage and consulting with proprietary programs and specialties in the sports, entertainment and publishing industries. BWD has approximately 200 employees.
BWD’s principals will join NFP’s leadership team as managing directors. Roger and Marc Blumencranz and Stuart Wilkins will each become managing director, NFP Property & Casualty, New York Metro. Eric Blumencranz will become managing director, NFP Corporate Services (New York).
BWD’s management will supervise NFP’s combined New York P&C presence, and the collective New York P&C operation will report to Terrence Scali, chief executive officer, NFP Property & Casualty. The combined New York benefits operation will report to William Austin, managing director, NFP Corporate Services (New York).
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