NFP, a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement, and individual private client solutions, today announced that it has acquired PBL Insurance Limited (PBL). The transaction closed on Feb. 4, 2019.
Image: NFP acquires PBL Insurance. Photo: Courtesy of adamr/FreeDigitalPhotos.net.
PBL provides a range of property and casualty and employee benefits services across the Ontario market. Headquartered in Windsor, PBL operates nine additional offices throughout Ontario. Collectively, their commercial coverage is well diversified, with specializations in garage and towing, construction, hospitality, forestry, mining, and transportation.
This acquisition enables NFP to gain access to the wider Canadian market through a top-rated independent insurance broker with a legacy of 100 years of experience. PBL President and CEO Michael Robinson will maintain a leadership role in transitioning to NFP, becoming a managing director with a core focus on commercial lines. Robinson, who brings more than 28 years of experience in commercial insurance and brokerage management, will report to Marty Shaw, president of NFP in Canada. PBL Chief Operating Officer Mandeep Singh will join NFP as senior vice president of commercial lines.
“The Canadian market is an important target of growth for NFP,” Doug Hammond, chairman and CEO of NFP. “The acquisition of PBL represents our commitment to expanding our insurance and benefits offerings to a wider audience.”
“We’re thrilled to welcome the extensive expertise, successful achievements and dedicated service of Michael and his team to NFP,” said Shaw. “PBL’s longstanding presence in Ontario has shaped some of the most innovative, client-focused offerings in the Canadian insurance market today. NFP is eager to integrate PBL’s outstanding salesforce into the family to continue developing business opportunities across all industries.”
“The choice to join NFP, effectively expanding the insurance and benefits capabilities available to clients, was an easy one,” said Robinson. “We are excited for our teams to begin working together and to integrate our resources to continue providing tailored solutions for clients with a multitude of needs.”
Source: Company Press Release