NFP, an insurance coverage broking and consulting firm, has acquired AIC for an undisclosed quantity.
AIC is an unbiased insurance coverage dealer, which was initially primarily based in St Albans, Hertfordshire. It’s now positioned in Hemel Hempstead on the outskirts of London, UK.
The corporate gives specialised insurance coverage merchandise throughout varied industries similar to marine, agriculture, retail and wholesale, business, leisure, car and development.
As well as, AIC additionally caters to private insurance coverage wants for people.
By way of AIC’s acquisition, NFP goals to boost its business insurance coverage choices and in addition strengthen its shopper base in London and the South East area of the UK.
The strategic transfer, which was finalised final month, will see all the AIC crew becoming a member of NFP.
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NFP Europe regional managing director Matt Pawley mentioned: “AIC is properly revered by its shoppers, friends and companions, and has a superb crew of insurance coverage professionals supporting their operation.
“This acquisition will bolster the shopper base of each organisations and improve our capacity to ship built-in and specialised options. AIC will likely be a fantastic addition to NFP as we assist shoppers sort out their threat mitigation.”
The combination of AIC into NFP’s operations is predicted to bolster NFP’s presence in Europe, the place it operates as a global and home insurance coverage brokerage and consulting firm.
With greater than 500 professionals, NFP provides a variety of options to deal with enterprise dangers and human capital wants, together with specialised business enterprise insurance coverage, worker advantages, well being and security, non-public monetary planning and HR consultancy.
AIC managing director Chris Metcalfe mentioned: “AIC has loved many profitable years by leveraging our strengths, which is a testomony to our first-rate, skilled staff and talent to serve the varied wants of our shoppers.
“Now we look ahead to our subsequent chapter by utilising the numerous further assets that NFP brings, not solely throughout insurance coverage but additionally throughout the worker advantages and wealth administration house.”
In October final yr, NFP confirmed the acquisition of unbiased insurance coverage dealer Resolute Insurance coverage Providers to additional broaden its presence and buyer community within the West Midlands, UK.