NFP, an insurance broking and consulting company, has acquired AIC for an undisclosed amount.

AIC is an independent insurance broker, which was originally based in St Albans, Hertfordshire. It is now located in Hemel Hempstead on the outskirts of London, UK.

The company provides specialised insurance products across various industries such as marine, agriculture, retail and wholesale, commercial, leisure, vehicle and construction.

In addition, AIC also caters to personal insurance needs for individuals.

Through AIC’s acquisition, NFP aims to enhance its commercial insurance offerings and also strengthen its client base in London and the South East region of the UK.

The strategic move, which was finalised last month, will see the entire AIC team joining NFP.

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By GlobalData

NFP Europe regional managing director Matt Pawley said: “AIC is well respected by its clients, peers and partners, and has a brilliant team of insurance professionals supporting their operation.

“This acquisition will bolster the client base of both organisations and increase our ability to deliver integrated and specialised solutions. AIC will be a great addition to NFP as we help clients tackle their risk mitigation.”

The integration of AIC into NFP’s operations is expected to bolster NFP’s presence in Europe, where it operates as an international and domestic insurance brokerage and consulting company.

With more than 500 professionals, NFP offers a wide range of solutions to address business risks and human capital needs, including specialised commercial business insurance, employee benefits, health and safety, private financial planning and HR consultancy.

AIC managing director Chris Metcalfe said: “AIC has enjoyed many successful years by leveraging our strengths, which is a testament to our first-rate, professional employees and ability to serve the diverse needs of our clients.

“Now we look forward to our next chapter by utilising the many additional resources that NFP brings, not only across insurance but also within the employee benefits and wealth management space.”

In October last year, NFP confirmed the acquisition of independent insurance broker Resolute Insurance Services to further expand its presence and customer network in the West Midlands, UK.