Specialty provider NSM Insurance Group has acquired Florida-based managing general agent GIG Insurance Group and insurance broker Gifford Wells Insurance (GWI).
GIG specializes in community association management liability and lawyers’ professional liability, while GWI is focused on arranging cover for lawyers, CPAs, doctors, architects, and engineers. They were set up in 2006 and 2003, respectively.
“I have the utmost respect for [NSM president] Bill McKernan and the NSM leadership team, and we are truly excited to join forces to take our business to the next level of success,” GIG president Dave Villari stated.
“Over the past 18-plus years, we have established GIG and GWI as go-to solutions in the liability marketplace based on our competitive coverages and ease of agents doing business with us. NSM has the resources, capacity, and industry relationships to open new doors to grow our business.”
As part of the transaction, financial terms of which were not disclosed, Eric Gifford will become president of GIG and GWI.
“For the past two decades, our mission has been simple – to deliver unparalleled liability insurance solutions and top-notch service to our valued agents partners and clients,” Gifford noted.
“NSM is well respected in the industry as the leader in specialty, niche insurance on both the program and retail side – and we’re truly excited to combine our expertise to grow our business and expand our footprint.”
McKernan, meanwhile, described Villari and Gifford as having built a “tremendous” business in GIG and a premier agency in GWI.
“We look forward to partnering with Eric as the next president of GIG and GWI to grow these businesses, especially through cross-sell opportunities with NSM’s existing niche insurance programs,” McKernan said.
NSM’s operations span more than 25 specialty insurance programs and brands.
What do you think about this story? Share your thoughts in the comments below.
