NFP, a US-based insurance broker and consultant, has acquired Corporate Benefit Analysts Insurance Agency (CBA), which is based in Kitchener, Canada, for an undisclosed amount.
The acquired Canadian firm offers benefits, defined contribution and defined benefit retirement consulting services to companies across the country.
As a part of the agreement, CBA principal Dean Howard will join Canadian business of NFP as managing director in group benefits and retirement. He will report to NFP Canada president Marty Shaw.
Others members of CBA’s senior management team such as Rob Crofts, Mike Werbowecki, Alecia Henderson and Katherine Rapp will continue to report to Howard in their current roles.
Shaw said: “This acquisition completes our retirement suite of services and further enhances our benefits capabilities as a result of CBA’s defined benefit actuarial team and administration platform.
“We look forward to combining our expertise and offerings to provide a more comprehensive set of services to our customers and prospects.”
Howard added: “This deal enables us to tap into NFP’s deep roots and expertise in the area. Our clients will benefit from enhanced services and capabilities.”