Global insurance broker NFP announced it has acquired the assets of SDN Insurance Agency (SDN).
SDN handles property/casualty insurance as well as employee benefits, surety and life insurance in the the Buffalo, New York area through offices in Amherst and Rochester, New York. NFP acquired the assets of the firm from Financial Institutions, Inc., the parent company of Five Star Bank.
Bill Gallagher, president of SDN, will join NFP and report to Mike Walsh, co-president of NFP’s Northeast region.
NFP is in the process of being acquired by broker Aon for $13.4 billion. The two firms have said the transaction is on track to close in mid-2024.
NFP ranked No. 10 in Insurance Journal’s 2023 Top 100 P/C Agencies list based on P/C revenue.
Topics Mergers & Acquisitions Agencies
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: The AI Boom – When Risk Stops Being Rare, Insurance Must Evolve 
Acrisure to Cut 2,250 Employees, Citing Advances in Technology and AI 
Insurance Mogul Lindberg Gets 12 Years for $2 Billion Fraud 
Moody’s: US Faces $375B in Uninsured Flood Losses From 1-in-100-Year Event 
