NFP expands surety and commercial presence with key acquisition | Insurance Business Canada
Insurance brokerage NFP has expanded its presence in surety and commercial insurance with its acquisition of Excel Bonds & Insurance Services, Inc.
Based in California, Excel Bonds & Insurance is a commercial insurance and surety bond broker with an international client portfolio that includes middle-market and large-scale firms across the US and Canada.
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As part of the acquisition, Cathy Skeen and Dave Garese, former founders and principals of Excel Bonds & Insurance, will join NFP as senior vice presidents. Both will report to John Hyland, senior vice president and the head of the surety division.
“This is an exciting step for our organization and our clients,” said Garese. “We look forward to working with John, a world-class surety expert; Henry, a world-class P&C expert; and the whole NFP team to exchange ideas and innovate product lines. We are eager to drive forward momentum with NFP.”
“We are thrilled to welcome Cathy and Dave to the NFP family and look forward to the impact of their wealth of cumulative experience providing comprehensive surety and commercial insurance solutions worldwide,” said Henry Lombardi, executive vice president and head of NFP’s property and casualty division. “Excel has distinguished itself by delivering exceptional client service. I look forward to working closely with John and the Excel team to continue to drive NFP’s client value proposition.”