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Insurance broker NFP Corp. on Tuesday said it has acquired Insurance Management Associates, a commercial property/casualty insurance broker offering specialty expertise in the real estate, construction, retail, manufacturing and wholesale industries.
IMA principals Scott Stegall and Lisa Levin-Stegall will each assume the role of vice president of NFP Property & Casualty and will report to Terrence Scali, NFP Property & Casualty’s CEO, New York based NFP said in a statement.
“The acquisition of IMA enhances our commercial line capabilities, particularly in designing solutions for clients with complex risk profiles,” Mr. Scali said in the statement.
NFP Property & Casualty’s current Mount Laurel, New Jersey location will merge with IMA’s Voorhees, New Jersey, office, and the combined operation will provide additional resources for NFP’s existing benefits firms in the Greater Philadelphia region, according to the statement.
NFP is the 11th-largest broker of U.S. business, according to Business Insurance’s latest ranking.
Plainview, New York-based broker BWD Group L.L.C. has been acquired by New York-based NFP Corp., according to an NFP statement.