National Financial Partners (NFP), a provider of benefits, insurance and wealth management services, has acquired Scottsdale-based property and casualty insurance brokerage Lapre Scali & Company Insurance Services.
NFP said it will continue to operate its property and casualty business as part of the Corporate Client Group, under the NFP P&C brand.
Following this acquisition, Lapre Scali’ CEO Terrence Scali will serve as CEO of NFP’s property and casualty division and executive vice president of NFP. Scali will report to Douglas Hammond, chief operating officer of National Financial.
Scali had been CEO of Lapre Scali since it was founded. Before that, he established and managed Milne Scali & Company Insurance Services, which he sold to BNC National Bank in April 2002.
NFP chairman, president and CEO Jessica Bibliowicz said acquisition of Lapre Scali is consistent with its strategy to continue to diversify the product and service offerings, particularly in P&C, and increase the recurring revenue.