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.