Insurance broker NFP has acquired Ohio-based Progressive Benefits Agency (PBA) in a transaction that closed on 11 December 2019.
PBA is a group benefits brokerage firm that offers benefits solutions for small group and middle market clients. It delivers benefit expertise and administrative services that help companies to attract and retain talented employees.
As part of the acquisition, PBA president Kevin Lurie will join NFP as a senior vice-president. The entire team at PBA will be joining NFP and move to NFP’s Independence office in Ohio.
Commenting on the development, Lurie said: “We’re thrilled to be joining the NFP family. We’ve worked hard to build something special by delivering meaningful benefits solutions and hands on attention to our clients’ needs.
“As part of NFP, we have an opportunity to do even more for our clients with an organization that continues to demonstrate a commitment to growth, expertise and people.”
NFP Central region managing director Jim Dustin said: “It’s great to welcome the PBA team and further build out NFP’s capabilities in the Central region.
“I look forward to working with Kevin to identify opportunities for growth and support his efforts to introduce NFP’s breadth of expertise and resources to his current and future clients.”
Earlier this month, NFP snapped up the independent investment consulting firm Fiduciary Investment Advisors (FIA).
The company acquired Canadian group benefits and retirement planning firm Elective Benefit Services January this year.