US-based property and casualty insurance broker NFP has acquired the Cronin Insurance Consultancy (Cronin) for an undisclosed sum.
The acquired company is a commercial insurance intermediary based in West Midlands, UK.
NFP said Cronin’s acquisition expands its presence in the region and enables Cronin to offer its clients integrated risk management solutions.
NFP added that by joining the broker, Cronin will get access to a stronger infrastructure of support and be able to provide its current clients with a greater selection of group benefits, risk, wealth and retirement options.
Set up in 2018, Cronin offers a range of products across commercial and personal lines.
Under the agreement, the entire Cronin staff, including owner and managing director Darren Cronin, will join NFP.
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NFP group managing director in Europe John Paul Allcock said: “We are passionate about adding like-minded commercial insurance brokers to our roster, especially ones like Cronin who understand the industry and client needs.
“With an experienced team and a dedicated, well-respected leader in Darren, Cronin will be a valuable member of the NFP family. We look forward to providing their clients with our integrated solutions while expanding our commercial offerings throughout the UK.”
Darren Cronin said: “We are truly excited to join the NFP family and look forward to integrating our clients into the greater organisation.
“This is a win-win for all Cronin stakeholders, especially our clients, who will benefit from the wide array of NFP’s solutions and services that can help them address ancillary needs around human capital, wealth and retirement.”
Earlier this year, NFP acquired insurance broker Gravity Risk Services, which is also based in the West Midlands.
At the beginning of 2023, NFP purchased UK-based health and safety consultancy Direct Safety Solutions.