Global insurance broking group NFP has acquired Gravity Risk Services Ltd, a community insurance broker and risk advisor based in the West Midlands.
With the acquisition, NFP will integrate Gravity’s risk services into its existing commercial insurance offerings, employee benefits, and human resources services.
“NFP is always assessing the market with the intent to acquire firms that support our ethos and core values around the importance of client services and exceptional carrier relations,” said Matt Pawley, president of NFP in Europe. “We are impressed with Gravity’s growth, a direct result of great leadership and innovative insurance solutions for clients. We fully expect that our investment in Gravity will enhance this growth.”
As part of the deal, all of Gravity’s team members and key executives will become part of the NFP team, including founder and director Dale Collet
“We are delighted to join NFP and continue to provide our advice-led approach to business,” said Collett. “This will give our existing clients access to NFP’s wide range of services, provide us with a great opportunity to grow in capacity, and introduce our employees to expanded career prospects within a larger, global organization.”
This latest acquisition builds on the momentum of NFP’s continued expansion in 2022, having swooped for Tailored Finance Limited and Bentley Insurance Services, among other firms.
Earlier this year, the global broking group acquired the safety consultancy Direct Safety Solutions, which is also based in the West Midlands.
“What we do when we acquire a business, is just give these leaders more tools to do their jobs,” John Paul Allcock, UK and Ireland MD at NFP, told Insurance Business in a 2022 interview. “They’re all good at business, they’re all good at being leaders, and they’re all good insurance brokers. That’s why we bought them in the first place… We trust people to do their jobs and it’s a good model. And it does take time and a lot of investment in people – in training and making them feel worthwhile and letting them do what they do best. That sense of responsibility is a huge thing.”
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