The broker plans to bolster its P&C expertise with the new addition
Insurance broker and consultant NFP has bought Dublin-based retail and commercial broker Aiken Insurances Limited (AIL), to add depth to its property and casualty (P&C) offering.
AIL provides professional indemnity, directors’ and officers’ (D&O), complex commercial liability and property risk, including unoccupied property, propositions. It also operates across the leisure, entertainment and construction sectors.
In purchasing AIL, NFP hopes to develop its expertise within these specialist lines of business, especially as AIL is also a Lloyd’s of London coverholder.
Furthermore, the transaction aims to continue NFP’s expansion of its P&C capabilities in Europe.
AIL’s existing leadership team – including William Irwin, Cara Aiken, Stephen Mills, Andrew Quinn and Stephen Devereux – will remain with the business under NFP.
Speaking on the announcement, Colm Power, director of NFP Ireland, said: “The addition of Aiken to NFP is our first commercial insurance acquisition in Ireland and rounds out the NFP Ireland offering of employee benefits and consultancy, individual wealth management and commercial insurance, in line with the rest of NFP.”
John Paul Allcock, managing director, UK and Ireland at NFP, added: “We are delighted to welcome Cara, Willie and Stephen, and the whole team to the NFP family.
“Aiken has built a high quality business on an ethos of care for customers, employees and insurers alike. These shared values make it a perfect fit for NFP and we know they will be a fantastic addition.”
AIL managing director Irwin said the firm was “thrilled to join NFP”.
He continued: “Our shared strategic vision will enable the close collaboration necessary to drive results.
“NFP is a fast-growing and dynamic group and we look forward to managing all aspects of our clients’ businesses together as we identify new opportunities for them to achieve their goals.”
NFP has offices in Europe, Canada, the US and Puerto Rico – its European headquarters is based in Birmingham, UK. The business, which has 6,000 global employees, provides P&C insurance services, corporate benefits, retirement and individual solutions through its licensed subsidiaries and affiliates.