NFP buys construction MGA

NFP Corp. acquired Insurance Specialty Group LLC, an Atlanta-based managing general agent that specializes in construction coverage on Oct. 1, NFP said in a statement Thursday.

Terms of the deal were not disclosed.

Insurance Specialty Group specializes in the residential home building market and operates a national construction program, focused on commercial general liability and builders risk insurance, NFP said.

The firm offers practice, project and wrap-up policies via a distribution channel of over 250 retail and wholesale brokers, NFP said.

ISG principals Bruce Harrell and Stephen Harrell will join NFP as managing directors, while ISG principals Randolph Roppelt and Elizabeth Davis will join NFP as directors.

They will report to Tom Gillingham, Seattle-based managing director and head of NFP’s specialty MGA and MGU programs, the statement said.

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