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NFP, a global property and casualty dealer and guide, has acquired Get Medical Plans, a London-based impartial middleman.
Monetary phrases of the transaction weren’t divulged.
Get Medical Plans’ acquisition goals to bolster NFP’s service choices within the personal medical insurance coverage sector.
Founders Marc Benjamin and Sanjeev Mallipeddi, with greater than 4 a long time of mixed expertise, will proceed to guide the acquired firm.
Benjamin and Mallipeddi are mentioned to streamline the medical insurance coverage broking course of and supply tailor-made options for his or her shoppers.
NFP believes that below its umbrella, Get Medical Plans will be capable to supply its companies to a broader consumer base and improve its constructive influence on companies and people looking for medical insurance steering.
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NFP Europe managing director of worker advantages Iain Chadwick mentioned: “We’re delighted to welcome Marc, Sanjeev and your entire Get Medical Plans staff to NFP.
“Including the experience of the Get Medical Plans staff and the options obtainable by their platform will assist NFP higher help our shoppers and develop our presence within the quickly increasing impartial medical insurance coverage market.”
Benjamin and Mallipeddi added: “We’re delighted to affix NFP, particularly as the corporate continues to develop within the UK. This partnership will allow Get Medical Plans to proceed to ship a first-class service to our shoppers by accessing the assets and vary of companies inside a worldwide organisation, whereas additionally giving us the flexibility to succeed in new clients.”
Earlier within the yr, NFP expanded its UK presence by buying AIC, an impartial insurance coverage dealer with a various portfolio of specialized insurance coverage merchandise.
This acquisition enhanced NFP’s capabilities throughout a number of industries together with marine, agriculture, retail and wholesale, business, leisure, car and development.
In December 2023, Aon entered a definitive deal, valued at $13.4bn (£10.58bn), to accumulate NFP.
The deal awaits regulatory approvals and is predicted to finish in mid-2024.
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