US insurance broker NFP Corp, which snapped up Dublin-based HMP Insurance & Pension Advisors Limited in August, is planning to significantly scale its operations in Ireland.
Now rebranded as NFP as part of the group’s global broker network, the Irish unit aims to ramp up to twice as big its current staff size. Additionally, it will leverage smart technology platforms and access to specialist expertise provided by its parent while maintaining the company’s independence when it comes to advising clients.
Meanwhile, co-founders David Moore and Colm Power will continue to drive the business under the leadership of NFP managing director for the UK and Ireland Matt Pawley.
“It is very much our stated intention to support NFP in their growth strategy to build a greater presence and market share in Ireland and to follow their very successful US and international expansion model of targeted acquisitions,” said Power.
“To that end, we will be proactively identifying further suitable acquisition targets in Ireland, particularly in the area of corporate commercial insurance, that will complement our business. Our plans are to acquire the right business at the right time for NFP.”
Pawley added that it is strategically important to invest in Ireland as NFP continues to plan for Brexit’s impact both on clients and the broker’s ability to serve them.
He stated: “Ireland is well placed to become a European hub for our business as we continue to expand into new geographic territories, but the local market also provides great domestic business opportunities and potential with many US and global corporate HQs based here.”
For chair and chief executive Doug Hammond, integrating NFP’s acquisitions in the UK and Ireland gives the group momentum as it pursues what he described as “tremendous opportunities” in the region.
“With 120 employees in Europe, focused leadership from Matt, David, and Colm, and their colleagues, and an unwavering commitment to delivering value to clients, we will build from our success and continue our growth in ways that distinguish us in the market,” asserted Hammond.
