New York-based insurance brokerage and consultant NFP has expanded its corporate benefits practice with the acquisition of Charlotte, N.C.-based Michelsen Benefits Group Inc., or The Michelsen Group (TMG). The transaction closed November 1, 2014.
TMG specializes in consulting services to large companies with respect to their group benefits. The firm was founded in 2003 by father-son partners Jim and Sean Michelsen, both of whom will remain as senior management.
Will Byron, NFP’s regional managing director, noted that TMG’s consultative approach to group benefits complements NFP’s business strategy, working closely with firms to determine the best health plan approach for their company. “Additionally, TMG’s property and casualty experience aligns with another core NFP business offering, so TMG is a natural fit,” he added.
National Financial Partners Corp. (NFP), along with its benefits, property/casualty and life insurance, also has a wealth management businesses.
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