“This acquisition is one of our largest ever and comes at a time when our momentum is building despite a challenging environment," said Doug Hammond, NFP’s chairman and CEO.
NEW YORK (PRWEB) August 03, 2020
NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced the acquisition of Rose & Kiernan, Inc., in a transaction that closed effective [August 1, 2020].
Rose & Kiernan, based in Albany, NY, is a multidisciplinary insurance broker with sophisticated capabilities in P&C, surety and employee benefits. Founded in 1869, the firm provides a variety of solutions – including insurance, employee benefits and risk management – to businesses, individuals and public and private organizations primarily in New York State and New England. The firm is highly regarded for both its insurance expertise and community involvement. John Murray, president, chairman and CEO of the firm, will continue to lead the team and operations in Albany and report to Bill Austin, president of the Northeast region.
“I want to extend a warm welcome to the Rose & Kiernan team as they join the NFP family,” said Doug Hammond, NFP’s chairman and CEO. “This acquisition is one of our largest ever and comes at a time when our momentum is building despite a challenging environment. Rose & Kiernan is an impressive organization, from its reputation and scale to their uncompromising dedication to clients and community. I’m looking forward to the meaningful contributions John and his team will make as part of NFP.”
“Adding an organization like Rose & Kiernan elevates the depth and breadth of our capabilities, while providing resources that will maximize their growth,” said Austin. “They have a long history of helping organizations thrive by effectively managing risk and attracting and retaining talented professionals and we’re proud they see the value we provide in helping them be an even better partner for their clients.”
“Expanding our middle market capabilities is a key element of our P&C strategy,” said Henry Lombardi, executive vice president and head of NFP Property and Casualty. “Being able to add a firm that has achieved so much and is positioned for significant growth is an important step as we add scale and expertise that will enhance our business.”
“This is another exciting chapter in our firm’s 150-year history,” said Murray. “When you build a business and reach a certain level of success, it’s exciting to know there’s still a lot more to achieve. NFP gives us access to resources we need to deepen our relationships with clients and respects the way we do business. Shared values, passion for growth and complementary collaboration make this a beneficial step for everyone involved, including the dedicated professionals who will continue to be integral to our collective success.”
NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,600 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 6th largest US-based privately owned broker, and 8th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 13th largest global insurance broker (Best’s Review).
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