NFP, an international property and casualty broker and consultant, has acquired Get Medical Plans, a London-based independent intermediary.
Financial terms of the transaction were not divulged.
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Get Medical Plans’ acquisition aims to bolster NFP’s service offerings in the private medical insurance sector.
Founders Marc Benjamin and Sanjeev Mallipeddi, with more than four decades of combined experience, will continue to lead the acquired company.
Benjamin and Mallipeddi are said to streamline the medical insurance broking process and offer tailored solutions for their clients.
NFP believes that under its umbrella, Get Medical Plans will be able to offer its services to a broader client base and enhance its positive impact on businesses and individuals seeking health insurance guidance.
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By GlobalDataNFP Europe managing director of employee benefits Iain Chadwick said: “We are delighted to welcome Marc, Sanjeev and the entire Get Medical Plans team to NFP.
“Adding the expertise of the Get Medical Plans team and the solutions available through their platform will help NFP better support our clients and grow our presence in the rapidly expanding independent medical insurance market.”
Benjamin and Mallipeddi added: “We are delighted to join NFP, especially as the company continues to expand in the UK. This partnership will enable Get Medical Plans to continue to deliver a first-class service to our clients by accessing the resources and range of services within a global organisation, while also giving us the ability to reach new customers.”
Earlier in the year, NFP expanded its UK presence by acquiring AIC, an independent insurance broker with a diverse portfolio of specialised insurance products.
This acquisition enhanced NFP’s capabilities across several industries including marine, agriculture, retail and wholesale, commercial, leisure, vehicle and construction.
In December 2023, Aon entered a definitive deal, valued at $13.4bn (£10.58bn), to acquire NFP.
The deal awaits regulatory approvals and is expected to complete in mid-2024.
