Insurance broker and consultant NFP has purchased New Jersey-based property and casualty (P&C) insurance broker Insurance Management Associates (IMA).
Terms of the deal have not been disclosed.
Established in 1962, IMA provides insurance services to the real estate, construction, retail, manufacturer and wholesaler industries.
The firm’s principals Scott Stegall and Lisa Levin Stegall will join as vice presidents in NFP Property & Casualty and report to its CEO Terrence Scali.
Scali said: "The acquisition of IMA enhances our commercial line capabilities, particularly in designing solutions for clients with complex risk profiles."
Lisa and Scott Stegall said: "Gaining access to NFP’s expansive resources and scale within the industry enables us to better serve our existing clients while opening new opportunities."
NFP offers employee benefits, property and casualty, retirement, and individual insurance and wealth management solutions to its customers.