NFP acquires Irish P&C insurance broker Aiken Insurances Limited

US insurance broker and consultant NFP has acquired Aiken Insurances Limited (AIL), an Irish retail and commercial property and casualty (P&C) insurance broker for an undisclosed price.

The Dublin-based retail and commercial insurance broker is engaged in specialist sectors such as professional indemnity/directors’ and officers’ liability insurance, complex commercial liability and property risks, which include unoccupied property, and the entertainment and leisure, and construction sectors.

William Irwin — managing director at Aiken Insurances Limited said: “Our shared strategic vision will enable the close collaboration necessary to drive results.

“NFP is a fast-growing and dynamic group and we look forward to managing all aspects of our clients’ businesses together as we identify new opportunities for them to achieve their goals.”

NFP said that by acquiring Aiken Insurances Limited, it will deepen its existing P&C offering apart from adding new expertise in specialized insurance lines.

Aiken Insurances Limited, which operates as a wholesale broker in Ireland for complex risks has a network of brokers throughout the country, while maintaining exclusive facilities as a Lloyds of London coverholder.

The acquisition of the Irish P&C insurance broker is also said to continue the momentum of the ongoing growth of its P&C capabilities in Europe, which will benefit clients across its business lines.

Colm Power — director of NFP Ireland said: “NFP aims to be a leader in providing corporate and individual solutions to support employee engagement, physical and financial wellbeing and insurance to safeguard organizations.

“The addition of Aiken to NFP is our first commercial insurance acquisition in Ireland and rounds out the NFP Ireland offering of employee benefits and consultancy, individual wealth management and commercial insurance, in line with the rest of NFP.”