NFP Acquires Foster Park Brokers Inc., Significantly Expanding its Presence in Western Canada

Acquisition of one of Western Canadas largest independent brokerages creates a consolidated platform in the region, enhancing NFPs existing P&C capabilities and operations

Image of Erin Cahill By Erin Cahill.
Updated Nov 9, 2021

NEW YORK (PRWEB) November 09, 2021 - NFP, a leading insurance broker and consultant that provides business and personal insurance, group benefits, retirement, and individual solutions today announced its acquisition of Foster Park Brokers Inc. (Foster Park). The transaction closed on November 1, 2021.

With the addition of Foster Park, one of Western Canadas largest independent insurance brokerages, NFP is adhering to its strategic plan of building a unified national platform that provides superior expertise and advice to clients and reinforcing our people first culture for all employees. Foster Park has 135 employees in four offices (Edmonton, Calgary and Grande Prairie, Alberta, and Langley, British Columbia) who provide expertise and solutions in commercial and individual P&C insurance, life and group benefits, private client services, and bonding and surety to clients across Western Canada.

Foster Parks highly respected and strong leadership team will play an active role in the integration and growth of the business, collaborating with NFP leaders across Canada to cultivate new client relationships and identify additional growth opportunities. Mark Wiens will serve as managing director of Commercial Lines for NFP in Canadas Western region, reporting to John Haas, president, NFP in Canada. Executive Partners Andre Charrois, Steven Whitehouse, Roger Roebuck, Denise Theberge, Hugh Watt, along with all other shareholders and employees of Foster Park will join NFP.

Were excited to welcome Mark and the entire Foster Park team to NFP, said Haas. Weve been working to identify the right partner to expand into Western Canada and weve found that partner in Foster Park. Their excellent reputation, relationships and results across the region will accelerate our growth across Canada. In addition, Foster Parks significant investments in industry-leading proprietary technology platforms that support long-term customer relationships will bring additional value to NFPs clients in Canada.

We are elated to join NFP and work with such a talented team of industry leaders, said Wiens. This transaction will bring immense value to our existing clients and future opportunities. Accessing new resources products, services, expertise will allow our staff to continue to be in a position of providing industry leading solutions and service. Were also looking forward to contributing to a culture that values people and proactively creates opportunities for them to grow and thrive.

Sequeira Partners served as exclusive financial advisor, and DLA Piper (Canada) LLP and Bryan & Company LLP acted as legal counsel, to Foster Park and its affiliates.

Dentons served as legal counsel to NFP.

About NFP NFP is a leading insurance broker and consultant providing specialized business and personal insurance, group benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 800 employees based in Canada, more than 6,000 employees globally, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors and financial institutions. NFP is the 5th largest benefits broker by global revenue (Business Insurance), 10th largest property and casualty agency (Insurance Journal) and 13th largest global insurance broker (Bests Review).

For more information, visit NFP.ca

Download FREE eBook

Sign up and receive a FREE eBook.
"A step-by-step guide to help you transition from the employee culture to that of the entrepreneurial world."

Have a Question?

Call us now if you have a question
Call us anytime using the toll free number below.

WE ARE HERE
FOR YOU!

3.142.96.146