February 20, 2019 by David Gambrill
NFP Corp., a global insurance brokerage and consultant, has acquired Ontario-based property and casualty brokers Mass Insurance Brokers Limited and Easyway Insurance Brokers Inc (collectively known as Mass).
Terms of the deal were not disclosed. NFP announced the deal, which closed last December, in a press release Tuesday.
Mass is based in Markham, with additional offices across the province of Ontario and an office in Montreal. Their group, affinity and individual coverages range from custom home products through high-risk auto policies. They also specialize nationally in the niche of equestrian insurance through Henry Equestrian.
NFP has a total of more than 4,700 employees and global capabilities, with offices in Canada, the United States, Puerto Rico and in the United Kingdom. The brokerage offers employee benefits, property and casualty, retirement, and individual private client solutions through its licensed subsidiaries and affiliates.
NFP Canada is not licensed to provide property and casualty insurance products. It partners with other brokers licensed in Canada to provide this service to clients.
“We’re thrilled to welcome the entire Mass team to the NFP family,” said Marty Shaw, president of NFP Canada. “Their strong leadership team, industry expertise and presence in the Canadian market will help us establish an even greater footprint across the country’s largest provinces.”
In a statement, NFP said its acquisition expands NFP’s property and casualty offerings across Canada “through a well-connected brokerage that has provided individualized service for over 30 years.”
Mass president and CEO Greg Dunn will continue on the leadership team, joining NFP as a managing director overseeing personal lines and small commercial lines. Randy McGlynn will become a director of business development. Dunn and McGlynn will report to Shaw.
“This acquisition couldn’t have come at a better time,” said Dunn. “The expansive list of capabilities and resources that NFP provides benefits our long-standing clients and will help boost our service menu to appeal to prospective clients.”