Aon now owns NFP | Insurance business America
Completed nosedive “another example of how we are moving further and faster”
Mergers & Acquisitions
By Terry Gangcuangco
Aon has successfully completed the purchase of mid-market real estate and casualty insurance broker NFP from funds affiliated with Madison Dearborn Partners and HPS Investment Partners.
Chief executive Greg Case (pictured) described April 25 as “a historic day for our company” as Aon welcomed NFP to the group. It noted that as an Aon company, NFP will act as an “independent and connected” platform for venture capital and human capital capabilities.
“With high-performing teams and leading content and capabilities – supported by our Aon Business Services operating platform – we will create more value for our customers while increasing long-term value creation for shareholders,” said Case.
Through the acquisition of NFP, Aon significantly strengthens its presence in the mid-market sector, employing over 7,700 professionals with expertise in property and casualty brokerage, social security consulting, wealth management and retirement planning consulting.
NFP will continue operations under the leadership of its CEO Doug Hammond, who will report to Aon President Eric Andersen.
“The idea of being ‘independent and connected’ is key to how we work together and create more options for clients in our venture capital and human capital capabilities,” noted Andersen.
“Doug and his team have built an exceptional customer-centric business and we are focused on leveraging our Aon Business Services platform to scale the delivery of new capabilities to small and medium-sized customers across Aon and NFP.”
For Hammond, the completion of the NFP sale marks the start of an “exciting new chapter” in the broker’s history.
“We look forward to the positive impact our complementary expertise and skills will have on everyone involved,” he commented. “Aon’s diverse resources and global reach enhance our ability to meet our clients’ dynamic risk, workforce, wealth management and retirement needs.
“We remain focused on both driving a culture that our colleagues want to be a part of and working together to contribute to our shared growth and success.”
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2024-04-26 05:00:00
www.insurancebusinessmag.com
