Madison Dearborn Partners’ NFP acquires Ogilvy Insurance

CPE News (12/10/2020) – NFP, a portfolio company of Madison Dearborn Partners and HPS Investment Partners, LLC, through NFP Canada Corp., has acquired Ogilvy Insurance (Ogilvy & Ogilvy Inc.). The transaction closed on November 24, 2020 and financial terms were not disclosed.

Based in Montreal and with offices in Toronto and Oakville, Ontario, Ogilvy Insurance is a multidisciplinary insurance broker offering commercial and personal lines property and casualty insurance, as well as group benefits and pensions, and life insurance and investments.

David Ogilvy will join NFP as a senior vice president and report to Dominic Tesone, managing director.

NFP is a leading insurance broker and consultant providing specialized business and personal insurance, group benefits, retirement and individual solutions through its licensed subsidiaries and affiliates.

NFP is majority controlled by Madison Dearborn Partners which acquired the company in July 2013 for US $1.3 billion. In February 2017, HPS Investment Partners led investor group invested US $750 million for a minority stake in NFP.

photo credit: JillWellington via pixabay

News Release

NFP Acquires Ogilvy Insurance to Further Expand Insurance Capabilities in Canada

Acquisition of historic Montreal Brokerage continues NFP’s expansion into Quebec, growth across Canada

NEW YORK, Dec. 10, 2020 /CNW/ — NFP, a leading insurance broker and consultant providing employee benefits, property and casualty (P&C), retirement, and individual solutions, today announced the acquisition of Ogilvy Insurance in a transaction that closed on November 24, 2020.

Based in Montreal, Quebec, with offices in Toronto and Oakville, Ontario, Ogilvy Insurance is a multidisciplinary insurance broker offering commercial and personal lines property and casualty insurance, as well as group benefits and pensions, and life insurance and investments. Ogilvy Insurance expands NFP’s capabilities and expertise predominantly through travel and performance watercraft insurance offerings, as well as specific coverages for the moving and roofing industries. With the addition of Ogilvy Insurance, NFP now has one of the largest moving and storage programs in Canada. David Ogilvy will join NFP as a senior vice president and report to Dominic Tesone, managing director.

“We’re thrilled to welcome David and his colleagues to the team,” said Greg Padovani, president, NFP in Canada. “He’s a talented program manager with extensive experience, great relationships and a deep understanding of the unique needs of the Quebec market. Our growth in Canada continues as we bring in local talent across the country and we look forward to continuing our momentum into 2021.”

“Ogilvy Insurance is a well-respected P&C practice and the expertise they bring will complement our existing offerings in Canada,” said John Belyea, chief operating officer, NFP in Canada. “There’s an opportunity to scale our presence in Quebec to create a consolidated full-service offering that provides clients with employee benefits, commercial lines and personal lines P&C solutions through one collaborative organization.”

“I’m happy to be joining NFP and have the opportunity to contribute to their continued growth in Canada,” said Ogilvy. “NFP has already established an impressive presence in Ontario with a broad range of capabilities. With the needs of businesses and individuals becoming increasingly diverse and complex, being part of a community with specialized expertise and resources will make a meaningful and lasting difference for the people we have the opportunity to serve.”

About NFP

NFP is a leading insurance broker and consultant providing specialized business and personal insurance, group benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 750 employees based in Canada, more than 5,700 employees globally, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors and financial institutions. NFP is the 5th largest benefits broker by global revenue (Business Insurance), 10th largest property and casualty agency (Insurance Journal) and 12th largest global insurance broker (Best’s Review).

Visit NFP.com to discover how NFP empowers clients to meet their goals.

SOURCE NFP Corp.

For further information: Heather Valle, nfp@hotpaperlantern.com, https://nfp.com/