NFP
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The realignment reflects the increased scale of the firm’s wealth management and retirement businesses, which have around $445bn in combined assets under management. -
The deal comes after NFP bought KGJ in the UK and Thompson Flanagan in the US last year.
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The executive will serve clients in the global oil and gas, power, mining and marine industries.
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The company is on the look-out for M&A opportunities in Western Europe and Latin America.
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The P&C division grew overall revenue to $633mn in 2021, expanded adjusted Ebitda to $178mn and adjusted Ebitda margins by 210bps to 31.5%.
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The partnership will add NFP branding to the Austin FC website and the Q2 Stadium in Texas.
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Courtney Maugé and Rick Cavaliere will report to Matthew Schott, managing director and head of NFP’s management and professional liability practice.
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The executives succeed existing Northeast head Bill Austin, who is transitioning to a managing director role focused on scaling NFP’s business in South Florida.
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NFP will be the anchor limited partner of a Distributed Ventures fund that focuses on start-ups and early-stage companies.
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Casualty rate hikes moderate, though areas like wildfire liability remain difficult amid an ever-more litigious environment.
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Industry veteran Lori Robinett joins NFP as a senior vice president, national casualty broker.
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NFP purchase of Connecticut-based Insurance Provider Group is the latest in a series of expansion moves in 2021.
