Insurance broker and consultant NFP has acquired independent insurance broker Resolute Insurance Services to expand its client base in the West Midlands, UK.
The terms of the deal were not disclosed by the companies.
Resolute provides various products across the commercial insurance industry.
The deal gives Resolute and its clients access to NFP’s global portfolio of complementary specialists and group benefits, wealth, risk, and pension solutions.
NFP said the acquisition expands its commercial insurance product offerings while helping in fast-tracking Resolute’s efforts to provide additional solutions to clients.
NFP Europe group managing director John Paul Allcock said: “We’re excited to welcome the Resolute team to NFP.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“We’re always open to engaging with like-minded insurance brokers and expanding our business operations by integrating firms such as Resolute that share our culture and values. Resolute will be a great asset to NFP as we invest in the team and their growth.”
The senior management team at Resolute will continue with NFP as key producers within the business.
David Cox will continue to act as managing director and will work closely with Allcock.
Cox said: “We are excited to join the NFP family and provide our commercial clients with access to an array of new solutions and products that span beyond commercial insurance.
“Our team and business will benefit from the support that comes from NFP’s wider corporate umbrella.”
Recently, NFP acquired UK-based Cronin Insurance Consultancy (Cronin) for an undisclosed sum.
NFP said the acquisition of the commercial insurance intermediary expands its presence in the region and enables Cronin to offer its clients integrated risk management solutions.