Major insurance broker NFP has acquired Quantum Risk Solutions, a Somerville, New Jersey-based managing general underwriter and wholesaler.
Quantum specializes in insurance and risk management products for auto transporters, towing/collateral recovery firms, nonemergency medical technicians and specialty haulers. Quantum’s offerings include a telematics program to monitor and collect data from individual vehicles and fleets.
Quantum president George Karlis will join NFP and report to Tom Gillingham, managing director, MGA/MGU Programs.
The transaction closed on July 15. No terms were disclosed.
“Acquiring Quantum aligns with our strategy to expand our MGA/MGU platform and brings sophisticated commercial transportation underwriting capabilities to a space where NFP has a growing retail presence,” Gillingham said.
Was this article valuable?
Here are more articles you may enjoy.
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
Zurich Sees Data Center Boom Spurring Insurance Securitization 
AM Best: Data Centers Pose Risks Beyond What P/C Industry Has Experienced 
Danone US Sues Chobani Over High-Protein Yogurt Labeling Claims 
