NFP acquires London-based Advanced Insurance Consultants

Middle-market P&C broker NFP has acquired Advanced Insurance Consultants Limited (AIC), an insurance broker based in London.

According to NFP, AIC’s specialised expertise includes the agriculture, marine, leisure, vehicle and construction industries. While predominantly a commercial insurance broker, the firm said that AIC also provides personal insurance for individuals.

Matt Pawley, regional managing director of NFP in Europe, commented, “AIC is well respected by its clients, peers and partners, and has a brilliant team of insurance professionals supporting their operation.

“This acquisition will bolster the client base of both organizations and increase our ability to deliver integrated and specialized solutions. AIC will be a great addition to NFP as we help clients tackle their risk mitigation.”

NFP explained that as part of the deal, which officially closed on December 15, 2023, the entire AIC team will join it.

Chris Metcalfe, managing director of AIC, said, “AIC has enjoyed many successful years by leveraging our strengths, which is a testament to our first-rate, professional employees and ability to serve the diverse needs of our clients.

“Now we look forward to our next chapter by utilising the many additional resources that NFP brings, not only across insurance but also within the employee benefits and wealth management space.”

In related news, at the end of last year, it was reported that global re/insurance broker Aon had signed a definitive agreement to acquire NFP.

At the time, it was disclosed that Aon will acquire NFP for a total consideration estimated at $13.4 billion, which will be funded by $7 billion of cash and $6.4 billion of Aon stock.

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