Oscar Seikaly announced that he purchased the remaining stake in NSI Insurance Group from long-time partner and company founder George Nenezian, who concurrently announced his retirement.
One of the largest privately held insurance agencies in the country, NSI Insurance Group offers commercial and personal insurance as well as employee benefits throughout the United States and in 40 countries. Seikaly, who worked alongside Nenezian for more than 25 years will become chairman of NSI Insurance Group.
In addition, Jim McCue, former Managing Director and Head of Florida Operations at Marsh, will join the company as Chief Operating Officer.
"We are pleased to announce this exciting evolution for NSI Insurance Group," said Seikaly. "George Nenezian and I built a great company, and we now plan to strategically grow with the help of Jim McCue – all while continuing to offer our clients the service and expertise which has been our hallmark."
George Nenezian founded the firm in 1958, and the company has steadily grown to be the one of the largest privately held insurance agencies in Florida and one of the top 100 privately held in the nation.
"NSI Insurance Group represents the gold standard among privately held insurance agencies in Florida," said McCue. "I’m pleased to join the company and look forward to working with Seikaly and the entire team on continued, profitable growth."
With more than 70 employees, NSI Insurance Group specializes in risk management and insurance services to many industries throughout Florida and the nation including hospitality, museums and non-profit organizations, construction, distributors, condominium associations, financial institutions, real estate and property management, healthcare providers, and trucking and transportation.
The company also markets under Excursioninsurance.com, which provides an efficient platform for all categories of cruise industry tour operators to quickly and easily secure insurance coverage that is compliant with the requirements of major cruise lines.