NFP Acquires High-Net-Worth Insurance Specialist

NFP, an Aon company, has significantly expanded its capabilities by acquiring key assets from Signature Personal Insurance (SPI). SPI, established in 2004 by Roper DeGarmo in Greater Kansas City, is an independent agency renowned for serving high-net-worth individuals and families with complex insurance requirements.

The agency's expertise spans luxury properties, fine art, and rare vehicles, operating through strategic carrier partnerships and a unique professional advisor insurance resource model. SPI's founder, Roper DeGarmo, will now join NFP as a vice-president, reporting to Mary Mullen, senior vice-president of personal risk in NFP's central region.

This acquisition is poised to enhance NFP's private client services across the Midwest. DeGarmo expressed enthusiasm, stating the combination would leverage regional resources with NFP's solutions to deliver greater value to affluent clients. NFP personal risk president Brett Woodward highlighted the acquisition as a means to strengthen integrated risk management solutions and expand its Kansas City presence.

NFP has been active with other recent acquisitions. In April, the company acquired Sherman Insurance Agency in Minnesota, broadening its reach in the upper Midwest and strengthening its transportation and logistics insurance services. Also in April, NFP purchased Hamilton Group, reinforcing its property and casualty presence in the US northeast. Meanwhile, parent company Aon reported a 26% increase in first-quarter net income, reaching $1.2 billion, with revenue rising 6% to $5 billion.