NFP, a P&C insurance coverage middleman and a unit of Aon, has acquired Scott Litman Insurance coverage Company (SLIA).
Monetary phrases of the transaction weren’t disclosed.
Primarily based in Calabasas, California, SLIA is a P&C middleman targeted on habitational danger.
It has been offering P&C insurance coverage and training within the Los Angeles area for nearly 30 years, with a deal with business habitational danger.
The SLIA staff caters to southern California HOAs, property administration corporations, boards of administrators and landlords of mid to large-sized properties.
As a part of the deal, SLIA president Scott Litman will assume the position of senior vice-president at NFP.
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In his new position, Litman will report back to NFP managing director of West area P&C Ed Kurowski.
Kurowsk stated: “We’re thrilled to welcome Scott Litman Insurance coverage Company to NFP. Scott and his staff have constructed a powerful ebook of business habitational danger enterprise in southern California with a deal with constructing long-term relationships, delivering efficient danger administration options and offering wonderful consumer service.
“We stay up for their impression on the expansion of our P&C enterprise on this key market whereas creating alternatives for the staff to introduce new capabilities to shoppers.”
Litman added: “As a part of NFP, our staff can entry expanded experience and capabilities throughout NFP, which can add large worth to the wide-ranging wants of our shoppers.
“With shared values and a dedication to advancing an already excellent tradition, we’re excited to assist drive NFP’s development within the habitational danger area and the higher Los Angeles space.”
Final month, NFP expanded its operations in Eire with the acquisition of Orca Monetary Group, a Dublin-based specialist monetary brokerage, and Sean Barrett Bloodstock Insurances, which presents specialty insurance coverage.
Arrange in 1999 and based mostly within the US, NFP was purchased by Aon earlier this 12 months in a cash-stock transaction price $13bn.
Supply:
https://www.nfp.com/about-nfp/newsroom/nfp-acquires-scott-litman-insurance-agency
