NFP Acquires Brokerage With Focus on Coastal Condominium Risk
- March 06, 2018
NFP Acquires Insurance Management Group, Inc.
Strategic acquisition expands NFP’s P&C footprint in Mid-Atlantic region
NEW -- 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 Insurance Management Group, Inc. (IMG). The transaction closed on February 1, 2018.
Based in Ocean City, Maryland, IMG specializes in both commercial and personal lines P&C and offers coastal condominium risk expertise to clients. Principal of the firm, Reese Cropper, III, will join the NFP P&C division as a senior vice president, reporting to Denny Mears, a managing director in NFP’s P&C division.
“We’re excited to welcome Reese Cropper and the whole IMG team to the NFP family,” said Mears. “With the acquisition of IMG, we are increasing our expansion in the Mid-Atlantic region. Reese is a well-respected and experienced professional whose coastal risk expertise will complement our robust set of capabilities to clients and prospects in the region.”
“This new partnership with NFP is an exciting way for us to begin 2018 with our employees and clients,” said Cropper. “We are looking forward to joining NFP. The transaction allows us to provide a broader range of resources and personalized services for our customers.”