NFP Acquires New York-based GCG Risk Management, Inc., Strengthening NFP Property and Casualty
Acquisition bolsters NFP’s expertise in workers’ compensation and workplace safety solutions
NEW YORK – June 24, 2019 – NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement, and individual solutions, today announced that it has acquired GCG Risk Management, Inc. The transaction closed on May 6, 2019.
Based in New York City, with an additional office in Schenectady, New York, GCG specializes in New York State workers’ compensation programs for insured and self-insured employers, including safety trade groups and trade associations, underwritten by the State Insurance Fund. This acquisition strengthens NFP’s property and casualty capabilities by broadening the suite of workers’ compensation and workplace health and safety services available to NFP clients nationally. Principal Ross Gnesin will join NFP as a senior vice president and Principal Joe Gnesin will remain active as a consultant to NFP.
"We are excited to welcome a long established firm like GCG to the NFP family to further strengthen our Property and Casualty division," said Bill Austin, President of NFP’s Northeast region. "Ross, Joe and their team bring decades of experience in workers’ compensation insurance and complex claims handling that will elevate our ability to provide tailored solutions to clients who face a multitude of complex workplace challenges."
"NFP provides us the opportunity to deliver a broader suite of solutions to our clients by partnering with NFP’s talented property and casualty and employee benefits professionals," said Ross Gnesin. "We take pride in our client relationships and we believe that the strength of NFP's extensive network and marketplace expertise will further lend support to expanding our services and achieving optimal outcomes for our valued clients."
NFP is a leading insurance broker and consultant providing customized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,100 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest US-based privately owned broker, 6th largest benefits broker by global revenue and 7th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).
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