New York-Based Broker NFP Buys Toronto’s McLean Hallmark Insurance Group

New York City-based insurance broker and consultant NFP announced it has acquired Canadian broker McLean Hallmark Insurance Group Ltd.

Financial details of the transaction, which closed on July 2, were not disclosed.

Based in Toronto, Ontario, with offices in Markham and Mississauga, McLean Hallmark offers property and casualty (P&C) solutions, specializing in trucking, car dealerships, moving and storage, marine and surety solutions, high net worth private client insurance, as well as employee benefits and pension services.

NFP said the acquisition strengthens its capabilities in these areas while further expanding its ability to serve corporate and individual clients in Canada. NFP offers property and casualty, corporate benefits, retirement, and individual solutions.

Daryn McLean will join NFP Canada as managing director of commercial insurance and John Belyea will join NFP as senior vice president of integration. Both will report to Marty Shaw, president of NFP Canada.

“We are thrilled to welcome a firm with such specialized focus in the P/C industry,” said Shaw. “Daryn, John and their team bring decades of experience in commercial business and specialty product offerings that align well with our focus on growth and delivering value to clients. With their help, we will continue to build out NFP’s Canadian P/C platform.”

“NFP provides us the opportunity to more broadly serve new and prospective corporate and individual clients,” commented McLean. “We continue to pride ourselves on our integrity, ethical standards, and ability to form strong relationships. NFP’s extensive network and marketplace expertise will allow us to expand our client base while maintaining these grounding principles.”

Source: NFP

Topics Mergers & Acquisitions New York Agencies Property Casualty Canada