New York broker-consultant NFP has announced the acquisition of Montreal-based Ogilvy Insurance in a transaction that closed last month.
NFP provides employee benefits, property and casualty (P&C), retirement, and individual solutions, similar to Ogilvy’s offerings.
The purchase of Ogilvy Insurance expands NFP's capabilities and expertise predominantly through travel and performance watercraft insurance offerings, as well as specific coverages for the moving and roofing industries.
NFP has one of the largest moving and storage programs
With the addition of Ogilvy Insurance, NFP now has one of the largest moving and storage programs in Canada.
David Ogilvy will join NFP as a senior vice president and report to Dominic Tesone, managing director.
John Belyea, chief operating officer, NFP in Canada, said the purchase extends the company’s momentum into the Quebec market.
Opportunities exist to scale presence
"Ogilvy Insurance is a well-respected P&C practice and the expertise they bring will complement our existing offerings in Canada. There's an opportunity to scale our presence in Quebec to create a consolidated full-service offering that provides clients with employee benefits, commercial lines and personal lines P&C solutions through one collaborative organization."
"I'm happy to be joining NFP and have the opportunity to contribute to their continued growth in Canada," said Ogilvy. "NFP has already established an impressive presence in Ontario with a broad range of capabilities. With the needs of businesses and individuals becoming increasingly diverse and complex, being part of a community with specialized expertise and resources will make a meaningful and lasting difference for the people we have the opportunity to serve.”
