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.
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