US-based insurance broker and consultant NFP has acquired The Thomas Insurance Agency of Benton for an undisclosed price.
Thomas Insurance Agency, based in Benton in the US state of Arizona, is a property and casualty (P&C) insurance broker, providing personal and commercial insurance.
Formed in 1960, it covers the insurance needs of individual and families, and also businesses throughout Arizona and surrounding regions.
Thomas Insurance Agency’s principals, Paul Childress and James Thomas have been retained in their existing roles and will be made directors within the P&C division of NFP.
According to Childress, the acquisition would help amplify Thomas Insurance Agency’s P&C products through the broad range of client offerings of NFP.
NFP P&C division CEO Terry Scali said: "James and Paul have a superior track record in providing P&C services to their valued clients. We are excited to welcome them to the NFP family, drawing on their years of experience and dedication to building lasting relationships in the previously underserved Southern Midwest market.
"The addition of the Thomas Insurance Agency team complements our objective to expand into Arkansas and further strengthens our unparalleled management team."
In late February, NFP acquired McLaughlin & Smoak based in Charleston, South Carolina. McLaughlin & Smoak provides ancillary and individual benefits offerings and knowledge pertaining to wellness and HR consulting.
Prior to that, NFP announced the acquisition of Mattecheck & Associates, an employee benefits consultant based in Portland, Oregon.
Headquartered in New York, NFP offers property & casualty, employee benefits, retirement and individual private client solutions via its authorized subsidiaries and affiliates.
It has a workforce of over 3,400 and claims to have global capabilities.
Image: NFP closed the acquisition of Thomas Insurance Agency. Photo: courtesy of adamr/ FreeDigitalPhotos.net.