NFP Acquires Benefit Administration Group, LLC and HM Benefits, LLC
Acquisition expands NFP's benefits capabilities and establishes presence in New Orleans
NEW YORK – December 17, 2018 – NFP, a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement, and individual private client solutions, today announced it has acquired Benefit Administration Group, LLC and HM Benefits, LLC (collectively known as Benefit Administration Group). The transaction closed effective Nov. 1, 2018.
Benefit Administration Group offers employee benefit brokerage services to employers in Louisiana, with additional capabilities in the individual health insurance market and corporate outsourced HR solutions. The acquisition allows NFP to establish a presence in New Orleans, a historically underrepresented area for the firm. Former principal Tom Daly will join NFP as a vice president, reporting to Ethan Foxman, president of the Mid-Atlantic region.
"This acquisition allows NFP to continue to extend its comprehensive benefits capabilities across the nation," said Foxman. "We couldn't be more thrilled to welcome Tom, a talented leader familiar with the needs of local Louisiana clients, to lead our growing team."
"We are delighted to be a part of the NFP family," said Daly. "We look forward to engaging in this mutually beneficial relationship, which provides us access to NFP's existing network, and allows us to use our unique expertise to expand NFP's employee benefits, individual health insurance and HR solutions to the greater New Orleans region."
NFP is a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement, and individual private client solutions through our licensed subsidiaries and affiliates. Our expertise is matched by our commitment to each client's goals and is enhanced by our investments in innovative technologies in the insurance brokerage and consulting space.
NFP has more than 4,700 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was named the 2nd largest retirement plan aggregator firm, as ranked by Investment News; the 5th largest US-based privately owned broker, the 5th best place to work in insurance and the 6th largest benefits broker by global revenue by Business Insurance; the 9th largest property and casualty agency by total 2016 P&C revenue and the 9th largest commercial lines agency by total 2016 P&C and commercial lines revenue by Insurance Journal; the 10th largest employee benefits broker by Employee Benefit Adviser; the 11th largest broker of US business by Business Insurance; and the 12th largest global insurance broker by Best's Review.
For more information, visit NFP.com.
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