NFP snaps up P&C broker for strategic expansion in UK
Specialist insurance broker NFP has strengthened its market position in the Midlands region and expanded its specialty expertise for clients in Europe with the acquisition of a UK-based property & casualty broker.
NFP has acquired UK-based KGJ Insurance Services Group, a commercial insurance broker with specialised expertise including combined risks for complex and non-standard programmes.
KGJ offers a range of exclusive scheme facilities as well as access to restricted markets through various wholesale brokerages. One of their specialties includes marine insurance, which provides coverage for all types of boats, including speedboats, yachts of all sizes, other luxury watercraft and coverage to the marine trade sector.
Following the deal, KGJ's leadership team - Richard Cox, Darren Hollinshead and Lyndon Hollinshead -will continue to work in senior leadership roles and remain fully engaged in the growth of the business, working with NFP to bring added value to new and existing clients.
John Paul Allcock, UK and Ireland managing director at NFP, said: “We are delighted to welcome Richard, Lyndon and Darren, and the whole KGJ team, to the NFP family. KGJ’s established wholesale brokerage operation is highly respected by its network of brokers and the team has built a first-rate business providing best-in-class service to clients.”
Matt Pawley, NFP’s managing director in Europe, added: “The KGJ merger continues the momentum of our strategic expansion throughout the UK. The business has a management team with decades of experience and expertise and this engrained knowledge will enable NFP to deliver increased value to clients regardless of industry, size or coverage required.”
Cox, director at KGJ, commented: "We’re looking forward to joining forces with NFP, collaborating on the services we can offer both our clients, and creating opportunities for our team to grow and prosper. We were impressed by NFP’s customer-centric approach to business and how their values align with KGJ’s longstanding principles. We’re excited to work together and continue to build a thriving business.”
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