Headquartered in San Diego, LIASD is a property and casualty (P&C) and employee benefits broker
NFP acquires LIASD.(Credit: Pete Linforth from Pixabay)
US insurance broker NFP has revealed its acquisition of California-based Leavitt Insurance Agency of San Diego (LIASD) for an undisclosed price.
Headquartered in San Diego, LIASD is a property and casualty (P&C) and employee benefits broker. The company has been catering to commercial clients and mid-sized employers across southern California for more than 20 years.
NFP said that the acquisition scales its footprint in San Diego while adding middle-market commercial P&C capabilities and employee benefits brokerage expertise.
Besides, the acquisition offers a consolidated, full-service office, said the insurance broker.
The company said that Art Morgenstein, a senior vice president who joined it in February 2020, has been leading its San Diego office. Morgenstein’s insurance industry experience is said to be spread over more than 40 years and includes account executive, underwriting, and senior leadership responsibilities with various international brokerage firms.
Art Morgenstein said: “I’m looking forward to working with the LIASD team and creating new relationships and opportunities.
“We continue to increase the depth and breadth of our solutions, and serve as an essential partner in helping clients overcome challenges across their businesses.”
Through its licensed subsidiaries and affiliates, NFP has been offering specialised property and casualty, corporate benefits, retirement, and individual insurance solutions.
NFP west president comments on the acquisition of LIASD
NFP west president John Hohman said: “It’s exciting to welcome the LIASD team to NFP and expand our presence and capabilities in an important area of our region.
“NFP remains focused on growing in key markets and elevating our ability to help clients emerge stronger from this crisis. The addition of LIASD and Art’s continued leadership enhance our ability to achieve these objectives.”
In April, the insurance broker acquired Progressive Benefits Agency, a group benefits brokerage firm based in Solon, Ohio, which offers benefits solutions for small group and middle market clients.
In the same month, NFP acquired Johnson Fleming Group and Johnson Fleming Future Life Planning (together, Johnson Fleming) in the UK. Johnson Fleming is a pensions specialist and employee benefits and group risk adviser that caters to employers and pension arrangement members.