Acquisition Closes on Southwest Indiana Insurance Firm

Posted: Updated:
(Image courtesy of Commerce Insurance Group LLC.) (Image courtesy of Commerce Insurance Group LLC.)
NEWBURGH and BOONVILLE -

Commerce Insurance Group LLC, which has offices in Newburgh and Boonville, has been acquired. As a result of the deal, NFP Corp. says Commercial Principal Bob Fitzsimmons has been named vice president of the New York insurance broker and consultant's property and casualty division.

NFP P&C Division Managing Director John Dillion says "this deal adds significant depth to our current P&C offerings in the senior living industry and fulfills a growing marketplace need in the insurance space. Our entire network of customers and prospects will benefit from these expanded service offerings." The acquisition, NFP says, will boost its presence in southern Indiana and increase its property and casualty offerings.

Fitzsimmons says "the Commerce team couldn't be happier to join the NFP family. We look forward to giving our clients and prospects added resources around their P&C and senior living risk needs, while providing employees with the continued support and expanded opportunities to thrive in their careers."

Terms of the deal are not being disclosed, however a spokesperson tells Inside INdiana Business no jobs are being impacted by the acquisition. NFP's footprint includes some 4,300 employees and a worldwide presence. It says Business Insurance recently ranked it the fourth-largest U.S.-based privately owned broker.

  • Perspectives

    • How to Build an Effective Team

      Many leaders who are looking to increase overall productivity at their company are implementing collaborative team environments. This growing trend is backed up by a recent study that states collaborative work environments lead to an increase in overall profitability. However, teams are only effective if built correctly. Don’t expect a group of employees to work well together if you throw them in a room without cultivating any sort of trust or team building.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • UPDATE: Nestl√© Details Fort Wayne Layoffs

      Virginia-based Nestlé USA says only 40 employees will be laid off at the company's Fort Wayne distribution center. A spokesperson for Nestlé tells Inside INdiana Business a WARN Notice filed with the state incorrectly stated the facility would close at the end of the year, affecting nearly 70 workers.

    • Eleven Fifty to Move Headquarters

      Eleven Fifty Academy has announced plans to relocate. The nonprofit coding academy says it will invest $5 million to move its national headquarters to a 25,000-square-foot space in downtown Indianapolis near the Indiana Statehouse. Eleven Fifty says it will maintain its existing space in Fishers and has additional plans to add more locations statewide in the future. The organization says it aims to bring its staff to more than 150 over the next six years. Founder Scott Jones...

    • Purdue Startup Targets Airline Food Carts

      A Purdue University-affiliated student startup thinks its innovation will help airlines become more efficient. Operating out of the Purdue Railyard, FlykeART has developed what it calls a lighter and smarter galley cart for airlines, which co-founder Yuhan Roh says could save airlines millions of dollars in fuel costs. The slimmer cart design, according to Purdue, would also help make the carts less of an injury threat for travelers. On The INnovators with Dr. K, Roh said...

    • Gateway Park will lead into the downtown district.

      Plans For New Muncie Facility Halted

      Plans for a $75 million project at the former BorgWarner site in Muncie have come to a halt.  Nigel Morrison, director of Waelz Sustainable Products LLP says “a campaign of misinformation tainted the process and ultimately made it impossible for the city council to continue supporting the project.” The project was first announced in January and was slated to create up to 90 new jobs. The announcement follows the opposition of Muncie residents who...

    • Northern Indiana Telemarketer Sentenced in Scheme

      A Merrillville telemarketer has been sentenced to over five years in prison for his role in a $10 million scheme to defraud mostly elderly victims in the United States. Carlin Woods, 35, pleaded guilty in 2017 to a count of conspiracy to commit wire fraud, one count of wire fraud and another conspiracy count to commit money laundering.