NFP, an insurance broker and consultant providing employee benefits, property and casualty (P&C), retirement and individual solutions, has announced expansion plans to “significantly” scale its Irish business operations.
This follows its very recent entry into the insurance broker market in Ireland with the acquisition of Dublin-based HMP Insurance & Pension Advisors Limited (HMP). Having now completed its rebrand from HMP to NFP and operating as part of the global NFP broker network, the local firm expects to double its workforce and significantly grow its business.
The rebrand is expected to more fully integrate the local business into the global broker network, leveraging smart technology platforms and access to specialist expertise while remaining independent in the advice given to clients.
Founded in 2006 by directors David Moore and Colm Power, HMP has established a position as a recognised leader in Ireland for providing corporate pensions consultancy and private wealth management/insurance advisory services to corporate and individual clients.
It said the acquisition of the business now paves the way for it to “accelerate” growth plans both organically and through other strategic acquisitions in the local market.
Both Moore and Power will continue to drive the business in Ireland reporting to Matt Pawley, managing director of NFP’s UK and Ireland business.
Power said: “It is very much our stated intention to support NFP in their growth strategy to build a greater presence and market share in Ireland and to follow their very successful US and international expansion model of targeted acquisitions.
“To that end, we will be proactively identifying further suitable acquisition targets in Ireland, particularly in the area of corporate commercial insurance, that will complement our business.”
He added: “Our plans are to acquire the right business at the right time for NFP. There are really great businesses out there that have significant opportunities for growth, but it must represent value and more importantly it must be the right fit culturally.”