NFP
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NFP claims it has so far lost five clients to Alliant, resulting in damages of $2mn.
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The deal value represents roughly 4x last year’s insurance broking income.
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Deanna Brewer will work with NFP’s construction clients.
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The end of the waiting period effectively clears the path to close in the US.
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The exec was speaking alongside Doug Hammond after Aon agreed to buy NFP.
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Amanda Ruback will focus on driving commercial P&C business growth, including supporting new business and client acquisition/retention and managing the region's commercial P&C account teams.
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NFP will need to be brought close enough to realize the benefits, but not so close its talent feels smothered.
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The CEO also disclosed that the break fee on the takeover is $250mn.
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She will work with Atlantic Region, industry group, and risk practice leaders to grow NFP’s commercial P&C business.
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As part of the initiative, recently appointed MD John Hyland will join David Bowcott and Adrian Pellen as co-leaders of the C&I group.
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The question of how to finance the private brokers no longer begins and ends with a PE flip.
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Based in Birmingham, Alabama, the executive will report to NFP management, cyber and professional liability managing director Matthew Schott.
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Increased cost of capital is cooling tuck-in M&A, encouraging a pivot to organic growth and forcing greater creativity around financing.
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The proposed change could disrupt M&A at brokers, shift the calculus in favor of team lifts and dial up C-suite focus on becoming an employer of choice.
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The broker appointed Marc Tauber to lead FIG’s broking and advisory team, Patrick O’Neill to head large accounts and Justin Corey to oversee business development.
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The group will provide clients with construction and surety services designed for complex national and cross-border projects.
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The moves are expected to enable NFP to form and administer Alberta-domiciled captive insurance companies for their clients.
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Debenport joins the energy practice within NFP's specialty business.
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Based in Toronto, the executive will report to Guy Jolicoeur, NFP Canada technical risk construction surety natural resources managing director.
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A tougher environment for debt financing and a potential recession will reverse some of the remarkable tailwinds of recent years.
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The industry veteran, who joins the broker from Markel Canada, will focus on the firm’s mid-market business.
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Based in Chicago, the executive will report to NFP’s cyber senior vice president Rick Cavaliere.
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The executive joined the company last September after the acquisition of Thompson Flanagan, where he was a partner for over 17 years.
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The realignment reflects the increased scale of the firm’s wealth management and retirement businesses, which have around $445bn in combined assets under management.