NSM acquires KBK Insurance for North America expansion
NSM Insurance Group has acquired the assets of US-based KBK Insurance Group, a provider of commercial auto insurance products and services.
NSM said it wants to continue to grow organically and through strategic M&A (mergers and acquisitions). It aims to be the leading provider of niche insurance programmes in North America and the UK.
KBK Insurance Group was founded in 1990 by Les Murray and his son, Ken of Harahan, leveraging their insurance backgrounds and their joint experience of building a startup retail agency. In 1993, Ken’s brothers, Brett and Kyle, joined the family insurance operation that had be named after the three brothers, KBK Insurance.
"We are excited to continue our expansion in North America with KBK. The Murray brothers have a strong track record of providing excellent service and expertise to the niche industries they serve. They are a perfect fit for our portfolio of dynamic, specialized businesses," said Geof McKernan, CEO of NSM. "We welcome the KBK team to the NSM family."
Ken Murray, president of KBK, added: "I am thrilled to be working with Geof and the team at NSM. Our cultures are a natural fit with each other. I truly believe we can offer both our clients and our insurer partners something unique. We look forward to working with NSM to deliver on our objectives in years to come."
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