Property and casualty (P&C) broker NFP, part of Aon, has acquired employee benefits broker Pilot Benefits Group (PBG), doing business as Pilot|RB.
The addition of Melville, New York-headquartered Pilot|RB is said to enhance NFP’s group benefits offerings, mainly in the non-profit segment.
Financial terms of the transaction were not disclosed.
Josh and Ben Senders, principals at Pilot|RB, will join the NFP team as senior vice-presidents. They will report to Chris Feneli, managing director of Benefits for NFP’s north-east region.
The Senders stated: “We are looking forward to joining Kate, Chris and the NFP team in the Northeast region. The integration of their expertise, service and capabilities across business lines is unmatched and presents exciting new opportunities for our team to expand the solutions we deliver to clients.”
Pilot|RB has been catering to non-profit organisations and middle market businesses for more than six decades.
Under the leadership of the Senders family, the company has been developing benefit programmes for low risk and costs.
NFP Northeast region president Kate Henry said: “This is a great strategic move for us and I am looking forward to seeing how Josh, Ben and their team build on their successes in the tristate area and help us deliver even more value to employers and their employees.”
NFP, which operates across the US, Puerto Rico, Canada, the UK and Ireland, has been on an acquisition spree in recent months. In addition to P&C insurance, it also offers other services including retirement plan advisory and wealth management.
Earlier in the month, the company acquired Bspoke Insurance Group, which operates in the niche market of managing general agents and underwriters.
Based in Leeds, UK, Bspoke also has offices across Shropshire, Gloucestershire, Essex, Liverpool and London.
Additionally, last month, NFP brought the Levine Group, a wealth and retirement services company based in Tennessee, US, into its fold.
“NFP buys New York employee benefits broker Pilot|RB” was originally created and published by Life Insurance International, a GlobalData owned brand.
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