Property-casualty broker NFP has announced that it has acquired Minneapolis-based Diversified Brokerage Services (DBS). The acquisition closed April 10.
The deal expands NFP’s life insurance business with capabilities that support larger financial institutions, the company said. As part of the transaction, DBS president and CEO George “Chip” Van Dusen IV and COO Tori Van Dusen-Roos will join NFP. They will report to Mike James, executive vice president and chief sales officer at NFP.
“I’m very excited to welcome Chip, Tori and their team to NFP,” James said. “They are industry leaders in supporting financial advisors through enterprise relationships with large financial institutions and will be valuable partners for our advisors and producers. With DBS on board, we will provide an enhanced, differentiated offering across our existing retail and wholesale life insurance businesses. I look forward to DBS’s contributions to our growth, culture, and support of current and future clients.”
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DBS is one of the largest life insurance brokerage general agencies in the nation. The company supports financial advisors across the US through enterprise relationships with large financial institutions. It also supports individual relationships under a wholesale model, NFP said.
“We’re thrilled to join NFP, an organization with significant scale in the life insurance space that shares our focus on growth, people and community,” Van Dusen and Van Dusen-Roos said in a statement. “We have very ambitious goals for growth, and with their commitment and resources, NFP is the ideal partner to help us achieve it. It’s exciting to see so many opportunities to collaborate and deliver additional value and expertise to our current distribution partners, as well as those with whom we build relationships.”
DBS is the latest acquisition for NFP. Last month, the company acquired Illinois-based David A. Marcus & Associates. The company also recently appointed Michael MacCrory as senior vice president of its energy and marine practice.
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