NFP Acquires Insurance Management Group, Inc.
Strategic acquisition expands NFP's P&C footprint in Mid-Atlantic region
NEW YORK – March 5, 2018 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty (P&C), retirement and individual private client solutions, today announced that it has acquired Insurance Management Group, Inc. (IMG). The transaction closed on February 1, 2018.
Based in Ocean City, Maryland, IMG specializes in both commercial and personal lines P&C and offers coastal condominium risk expertise to clients. Principal of the firm, Reese Cropper, III, will join the NFP P&C division as a senior vice president, reporting to Denny Mears, a managing director in NFP's P&C division.
"We're excited to welcome Reese Cropper and the whole IMG team to the NFP family," said Mears. "With the acquisition of IMG, we are increasing our expansion in the Mid-Atlantic region. Reese is a well-respected and experienced professional whose coastal risk expertise will complement our robust set of capabilities to clients and prospects in the region."
"This new partnership with NFP is an exciting way for us to begin 2018 with our employees and clients," said Cropper. "We are looking forward to joining NFP. The transaction allows us to provide a broader range of resources and personalized services for our customers."
At NFP Corp., our solutions and expertise are matched only by our personal commitment to each client's goals. We're a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement and individual private client solutions through our licensed subsidiaries and affiliates.
NFP has more than 4,000 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 ranked the 4th largest U.S.-based privately-owned broker and the 5th largest benefits broker by global revenue by Business Insurance, the 9th largest property & casualty agency by total 2016 P&C revenue by Insurance Journal, the 11th largest global insurance broker by Best's Review and the 12th largest broker of U.S. business by Business Insurance.
For more information, visit NFP.com.
Peppercomm for NFP