Insurance broker NFP has acquired Indemnis Trade Risk Management Limited in Toronto, ON.
A release revealed that the deal was closed December 10, 2019.
While Indemnis is headquartered in Toronto, the P&C broker operates in both the US and Canada. Indemnis focuses on trade credit and political risk insurance, and the firm takes a consultative approach to helping clients protect against catastrophic credit loss.
A release said that Tom Leonard, Indemnis principal, will serve as practice leader for NFP’s Trade credit & political risk division.
“I’m excited to welcome Indemnis to NFP as we continue to expand our specialized P&C capabilities,” said NFP executive vice-president and property and casualty division head Henry Lombardi.
Lombardi also said that as NFP continues to grow its presence in North America, the company is working to improve the support it provides to clients with global operations.
“The solutions that Tom and his team are able to deliver, will make our clients more resilient and support their ability to grow their businesses,” the EVP added.
“We are thrilled to join NFP and contribute to their continued growth in the specialty P&C space,” commented Leonard. “We are proud of what we’ve built and look forward to extending the reach of our specialized expertise in collaboration with NFP offices across the US and Canada.”
Last month, NFP acquired Elective Benefit Services – a group benefits and retirement planning firm based in Waterloo, ON.
