NFP buys brokerage Rose & Kiernan

NFP Corp. acquired brokerage Rose & Kiernan Inc. in a deal that expands its middle-market expertise and footprint in the Northeast, NFP said in a statement Monday.

Terms of the deal, which closed Aug. 1, were not disclosed.

Albany, New York-based Rose & Kiernan is a property/casualty, surety and employee benefits brokerage that focuses on businesses, individuals, and public and private organizations in New York state and New England, NFP said in a statement.

Rose & Kiernan is the 67th-largest broker of U.S. business, according to Business Insurance’s latest ranking, with 2019 revenue of $49.1 million.

New York-based NFP will add 189 employees through the acquisition, a company spokeswoman said via email.

John Murray, president, chairman and CEO of Rose & Kiernan, will continue to lead the team and Albany operations, reporting to Bill Austin, president of the Northeast region, NFP said in the statement.

NFP is the 13th-largest broker of U.S. business, according to Business Insurance’s latest ranking, with 2019 revenue of $1.34 billion. It has about 5,600 employees, according to NFP’s statement.