NFP Acquires Commercial Brokerage in Canada
- December 18, 2017
NFP Acquires P&C Broker Dalton Timmis Insurance Group, Inc.
Strategic acquisition expands NFP's P&C business in Canada
NEW YORK -- NFP, an insurance broker and consultant that provides employee benefits, property & casualty (P&C), retirement and individual private client solutions, announced that it has acquired Dalton Timmis Insurance Group, Inc. (DTG). The transaction closed on December 7, 2017.
Based in Ancaster, Ontario, DTG is a P&C insurance broker with commercial expertise in trucking and transportation and a unique personal lines offering. DTG was recognized as the top brokerage by Insurance Business Canada (2017) and as Brokerage of the Year by Insurance Brokers Association of Ontario (2016). The organization has additional offices across Ontario (Burlington, Mississauga and Midland) and Western Canada (Edmonton and Calgary). Principals of the firm Brian Timmis, Domenic Tesone and Greg Padovani have all been instrumental DTG's success and will join the executive leadership team of NFP in Canada, reporting to Marty Shaw, President of NFP in Canada. DTG's outstanding senior leadership team of Tara Carruthers, Josh Pauls and Dan Avon will also join NFP as vice presidents.
"We're excited to welcome the entire DTG team to the NFP family. We're committed to the Canadian market and have total confidence that DTG's leadership team and employees will be outstanding partners to help us drive our Canadian expansion strategy alongside Marty and his team," said NFP's Chairman and CEO Doug Hammond.
Marty Shaw added, "The DTG transaction opens a new chapter for NFP, creating a premier P&C platform in Canada, and expands our P&C services in two of Canada's largest provinces, providing significant resources to NFP's footprint in the region. The result is a full-service broker, complementing our world-class benefits and pension portfolio across Canada. We’re especially excited about the possibility of increased synergies between our benefits and P&C offerings."
"We're happy to close the year with this impactful transaction, which will provide strong growth momentum heading into 2018 and beyond," said Timmis, Tesone and Padovani in a joint statement. "Building on a robust set of existing services, joining NFP will generate a deeper portfolio of consultative services and product offerings for both our existing clients and prospects. We couldn't be happier."