NFP, a U.S.-based insurance brokerage, announced Nov. 9 the acquisition of Foster Park Brokers Inc. The transaction closed on Nov. 1, 2021.
Foster Park has 135 employees in four offices (Edmonton, Calgary and Grande Prairie, Alberta, and Langley, British Columbia) who provide expertise and solutions in commercial and individual P&C insurance, life and group benefits, private client services, and bonding and surety to clients across Western Canada.
NFP says that with this acquisition, it is following its strategic plan of building a unified national platform.”
Foster Park's leadership team will play an active role in the integration and growth of the business, “collaborating with NFP leaders across Canada to cultivate new client relationships and identify additional growth opportunities,” says NFP. Mark Wiens will serve as managing director of Commercial Lines for NFP in Canada's Western region, reporting to John Haas, president, NFP in Canada. Executive Partners Andre Charrois, Steven Whitehouse, Roger Roebuck, Denise Theberge, Hugh Watt, along with all other shareholders and employees of Foster Park will join NFP, says the company.
"We're excited to welcome Mark and the entire Foster Park team to NFP," stated Haas. "We've been working to identify the right partner to expand into Western Canada and we've found that partner in Foster Park. Their excellent reputation, relationships and results across the region will accelerate our growth across Canada. In addition, Foster Park's significant investments in industry-leading proprietary technology platforms that support long-term customer relationships will bring additional value to NFP's clients in Canada."