NFP today announced the acquisition of HMP Insurance & Pension Advisors Limited (HMP)

Cision PR Newswire | August 18, 2020

NFP, a leading insurance broker and consultant that provides employee benefits, property and casualty, retirement and individual solutions, today announced the acquisition of HMP Insurance & Pension Advisors Limited (HMP). NFP serves clients through more than 260 offices across the United States and 45 international offices across the UK, Puerto Rico and Canada. With the addition of HMP, NFP further expands its reach in Europe and establishes a presence in the growing Irish market.today announced the acquisition of HMP Insurance & Pension Advisors Limited (HMP)

Spotlight

Globally, the insurance industry experienced strong premium growth in 2015, at 5.6 percent, whereas growth in 2016 is expected to be noticeably slower, at 4.4 percent. Total premiums are expected to reach €4.6 trillion, up from €4.4 trillion in 2015. What factors help explain the industry’s performance? The global insurance industry is undergoing turbulent times with the continuing low-interest rate environment, a challenging equity market, and tightening regulatory changes, such as the US Department of Labor (DOL) rule and new US tax guidelines. Meanwhile, consumers’ shift to hybrid online and offline research and purchasing has largely concluded in developed markets and is accelerating in developing markets with the spread of mobile phones. These changes, along with the impact of price-comparison websites and other technology developments, plus the race to implement digital processes, are tectonic shifts forcing insurers to adjust their business models.

Spotlight

Globally, the insurance industry experienced strong premium growth in 2015, at 5.6 percent, whereas growth in 2016 is expected to be noticeably slower, at 4.4 percent. Total premiums are expected to reach €4.6 trillion, up from €4.4 trillion in 2015. What factors help explain the industry’s performance? The global insurance industry is undergoing turbulent times with the continuing low-interest rate environment, a challenging equity market, and tightening regulatory changes, such as the US Department of Labor (DOL) rule and new US tax guidelines. Meanwhile, consumers’ shift to hybrid online and offline research and purchasing has largely concluded in developed markets and is accelerating in developing markets with the spread of mobile phones. These changes, along with the impact of price-comparison websites and other technology developments, plus the race to implement digital processes, are tectonic shifts forcing insurers to adjust their business models.

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