National Financial Partners' NFP Property and Casualty (NFP P&C) Services has acquired Ameribonds Surety & Insurance Services (Ameribonds Surety), as part of its strategic expansion in online surety lines.
NFP P&C said chief executive officer Terrence Scali said with a strong surety business already in place at NFP P&C, the acquisition of Ameribonds Surety will further increase the firm’s scale.
"The Ameribonds Surety transaction creates an online presence for us in the surety bond business, an area where we anticipate significant opportunity," Scali added.
Illinois-based Ameribonds Surety is a surety and insurance services business that provides affordable surety bonds and fidelity bonds/insurance for its clients.
Utilizing a web-based platform, Ameribonds Surety acts as an intermediary to place business, predominantly surety policies.
The firm operates and reports in three segments the Corporate Client Group, the Individual Client Group and the Advisor Services Group to provide insurance and wealth management solutions for high net worth individuals.