NFP CORP., a major U.S.-based insurance broker, consultant and wealth management company, has expanded its p&c presence in Canada with the acquisition of Ancaster, Ont.-based broker Dalton Timmis.
The deal gives NFP a boost in the trucking and transportation and other commercial and personal lines in two of Canada’s largest provinces. Dalton Timmis also has offices in Burlington, Mississauga and Midland, Ont., and Edmonton and Calgary.
NFP has existing insurance operations in Toronto and Burlington that provide group benefits, life insurance and some commercial p&c products through independent brokers.
All three principals of Dalton Timmis — Brian Timmis, Domenic Tesone and Greg Padovani — have joined the executive leadership team of NFP in Canada, reporting to president Marty Shaw. Three other senior Dalton Timmis staff — Tara Carruthers, Josh Pauls and Dan Avon — have also joined NFP as vice presidents.
“The Dalton Timmis transaction opens a new chapter for NFP, creating a premier p&c platform in Canada, and expands our p&c services in two of Canada’s largest provinces, providing significant resources to NFP’s footprint in the region,” Mr. Shaw said.
“The result is a full-service broker, complementing our world-class benefits and pension portfolio across Canada.”
NFP’s chairman and ceo Doug Hammond said the acquisition shows a commitment to the Canadian market.
“I have total confidence that the Dalton Timmis leadership team and employees will be outstanding partners to help us drive our Canadian expansion strategy alongside Marty and his team,” Mr. Hammond said.
Dalton Timmis said by joining NFP, the brokerage will have a larger portfolio of services and products to offer its clients.
NFP Corp., headquartered in New York City, was founded in 1998. The company was formerly known as National Financial Partners Corp. and changed its name to NFP Corp. in March 2015.
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