NFP, a New York City-based insurance broker and consultant, announced it has acquired Aiken Insurances Ltd. (AIL).
Financial details of the deal were not disclosed.
Dublin-based AIL is a retail and commercial insurance broker which has successfully operated in specialist sectors, including professional indemnity/directors and officers liability insurance, complex commercial liability and property risks, including unoccupied property, as well as the leisure and entertainment and construction sectors.
NFP said the acquisition will add depth to its current P/C offering as well as new expertise in specialized insurance lines. As wholesale brokers in Ireland for complex risks, Aiken is respected by a network of brokers throughout Ireland and maintains exclusive facilities as a Lloyd’s of London coverholder. The acquisition also continues the momentum of the ongoing expansion of NFP’s P/C capabilities in Europe, which will benefit clients across NFP’s business lines.
“NFP aims to be a leader in providing corporate and individual solutions to support employee engagement, physical and financial wellbeing and insurance to safeguard organizations,” said Colm Power, director, NFP Ireland. “The addition of Aiken to NFP is our first commercial insurance acquisition in Ireland and rounds out the NFP Ireland offering of employee benefits and consultancy, individual wealth management and commercial insurance, in line with the rest of NFP.”
The entire AIL leadership team of William Irwin, Cara Aiken, Stephen Mills, Andrew Quinn and Stephen Devereux will join NFP. They will work with leaders across NFP and will remain fully engaged in the growth of the business and bring additional value to clients.
“We are delighted to welcome Cara, Willie and Stephen, and the whole team to the NFP family,” said John Paul Allcock, managing director, UK and Ireland. “Aiken has built a high-quality business on an ethos of care for customers, employees and insurers alike. These shared values make it a perfect fit for NFP and we know they will be a fantastic addition.”
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