NFP swoops for two businesses
NFP swoops for two businesses | Insurance Business America
Mergers & Acquisitions
NFP swoops for two businesses
Deals latest in a string of buys
Mergers & Acquisitions
By
Steven Byerley
National property-casualty broker NFP has announced that it has completed the acquisition of the employee benefits solutions business of FinTrust Insurance and Benefits (Fintrust) and has bought medical insurance specialist brokerage Presidio Financial Services Corporation (Presidio).
Presidio is headquartered in Westlake Village, California, and serves physicians, doctors, healthcare facilities, and healthcare professionals. The brokerage was founded in 2002.
Its roster of coverage options include healthcare professional liability, errors and ommissions, works’ compensation, cyber liability, employment practices liability, business office coverage, and umbrella coverage.
“I’m thrilled to join NFP and begin contributing to the success of a growing, people-first organization,” said Presidio founder and CEO Gisela Plazas, who will join NFP. “This is a great opportunity for me to integrate my medical malpractice knowledge across the organization and introduce additional solutions to our clients.”
The Presidio deal was hailed as a “great strategic move” for growing NFP’s western presence by NFP West region president Mike Schneider.
Fintrust, a subsidiary of United Community Banks, operates in Orlando and offers a comprehensive range of financial products and business services to employer groups and individuals across Florida.
As part of the acquisition, Cindi Johnston, formerly vice president of employee benefits at FinTrust, has joined NFP’s Florida Group Benefits division, reporting to Sarah Wollschleger, NFP’s South Florida benefits market leader.
“Acquiring the benefits business of FinTrust aligns with our focus on building NFP’s presence throughout Florida and enhancing our ability to serve the needs of employers and their employees,” said Bill Austin, managing director at NFP in South Florida. “Through organic growth and strategic acquisitions, we look forward to continuing our momentum.”
Founded in 1973, FinTrust specializes in offering insurance, employee benefits, and corporate retirement plans. The acquired employee benefits solutions business is known for its product-neutral approach, delivering customized plans and programs that enhance clients’ business operations, support retention efforts, and simplify the complexities of benefits administration.
“We’re thrilled to join NFP, a global, people-first organization, and help them accelerate their growth in Florida,” Johnston said. “Our focus has always been on solving employee benefits complexities for clients, which aligns well with NFP’s purpose and philosophy. Joining NFP also allows us to access NFP’s integrated solutions and expertise, which will bring additional value to clients.”
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