NFP Acquires First West Brokerage Services
Acquisition strengthens presence in West region
NEW YORK – June 29, 2016 – NFP, a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement, and individual insurance and wealth management solutions, has acquired First West Brokerage Services, Inc. (First West). The transaction closed on June 1, 2016.
Founded in 1987, First West is a full service benefits insurance broker and consultant specializing in group health plans with additional offerings in corporate retirement products, ancillary benefits and human resources solutions, as well as individual wealth management. The firm is based in Orem, UT, with a second office in Salt Lake City. First West has been a member of NFP's Benefits Partners organization since 2010 and the transaction further strengthens the long-term relationship between the firms. First West principal, David Jackson, will remain with the firm and assume the role of Managing Director, reporting to John Hohman, Regional Managing Director at NFP.
Commenting on today's announcement, Hohman said, "The acquisition of First West is consistent with our strategy to expand our full suite of product offerings nationwide and deepen our level of expertise within the group benefits marketplace. We see significant opportunity in the west and are focused on continued growth there. We are pleased to welcome First West to the NFP family."
"Our team has consistently expanded our infrastructure and maintained a strong focus on growth over the last 10 years, and deepening our existing relationship with NFP will enable us to continue this trajectory in Utah and beyond," said Jackson. "We look forward to enhancing the comprehensive solutions we offer our clients by leveraging the expansive resources and scale of NFP."
About NFP
At NFP Corp., our solutions and expertise are matched only by our personal commitment to each client's goals. We're a leading insurance broker and consultant that provides employee benefits, property & casualty, retirement, and individual insurance and wealth management solutions through our licensed subsidiaries and affiliates.
NFP has more than 3,400 employees and global capabilities. Our expansive reach gives us access to highly rated insurers, vendors and financial institutions in the industry, while our locally based employees tailor each solution to meet our clients' needs. We've become one of the largest insurance brokerage, consulting and wealth management firms by building enduring relationships with our clients and helping them realize their goals.
Recently NFP was ranked the 2nd fastest-growing US large-group employee benefits brokers by Employee Benefit Adviser. In addition, Business Insurance ranked us as the 5th largest global benefits broker by revenue, the 4th largest US-based privately owned broker and the 11th largest broker of US business. PlanSponsor ranked us the 5th largest executive benefits provider of nonqualified deferred compensation by number of plans, and we were ranked 11th in personal lines P&C revenue by Insurance Journal.
For more information, visit NFP.com.
CONTACT
Peppercomm for NFP
nfp@peppercomm.com
212-931-6171