NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced that it has acquired Independent Bankers Insurance Services, Inc.
Image: NFP acquires Independent Bankers Insurance Services. Photo: courtesy of Adam Radosavljevic from Pixabay.
The transaction closed on June 1, 2019.
Based in Scottsdale, Arizona, Independent Bankers Insurance Services Inc. (IBIS) provides management liability coverage to community banks. This acquisition strengthens NFP’s capabilities within its financial institutions vertical by broadening the suite of products and services, including default protection and loan security products, that NFP can offer to its existing financial institution clients.
Justin Corey, president of IBIS, will join NFP as a vice president reporting to Ed Kurowski, NFP’s West region managing director. He will work closely with NFP’s premier bank-owned life insurance consultants to integrate best-in-class offerings to the community bank space across multiple business lines. Pat Corey, founder of IBIS, will also remain active as a consultant to NFP and will assist in risk analysis and strategic planning.
“NFP continues to diversify its revenue base by expanding our suite of products and services, including P&C solutions designed for financial institutions. We are thrilled to welcome a well-established firm like IBIS to the NFP family,” said Kurowski.
“NFP provides us the opportunity to better serve our existing and prospective clients with additional offerings, including bank-owned life insurance and specialty P&C products,” said Corey. “Together, we’ll continue to develop NFP’s financial institutions vertical and elevate our ability to deliver the full suite of service solutions to community banks across the country.”
Source: Company Press Release