NFP Acquires Entertainment Industry BrokerageMonday, September 9, 2013
Insurance and wealth-management firm NFP Corp. has expanded its West Coast presence with its acquisition of Insurance West Corp. in Simi Valley, the companies announced Monday.
The deal between NFP, based in New York City, and Insurance West closed on Sept. 4. Terms were not disclosed.
Insurance West, founded in 1947, will be incorporated into the property and casualty services division of NFP. Insurance West is one of the largest providers of property and casualty insurance to the entertainment industry.
NFP Chief Executive Douglas Hammond said the acquisition will help his company strengthen its property and casualty business.
“This transaction diversifies our revenue base and enables NFP to more effectively compete in the national marketplace with an enhanced offering of differentiated products and solutions for new and existing clients,” he said in a prepared statement.
Insurance West President Robert Sulzinger remains with the company and will focus on the entertainment insurance division.