Following closing, NFP will run as an "independent but connected platform," according to the acquiring firm. Doug Hammond, chairman and CEO of NFP, will continue to lead the business and will report to Eric Andersen, president of Aon. Credit: izzuan/Stock.adobe.com
Management consulting firm Aon has agreed to buy privately held insurance broker NFP Corp. for about $13.4 billion as part of a push into the middle-market segment of the insurance brokerage, wealth management and retirement plan advisory.
Founded in 1999, NFP is a leader in property and casualty brokerage, benefits consulting, wealth management and retirement plan consulting for middle-market clients with an estimated $2.2 billion in 2023 revenue. It forecasts a roughly 14% rise in total revenue in 2024 and 2025.
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