Madison Dearborn-owned NFP acquires PBL Insurance

NFP Corp has acquired PBL Insurance Ltd, a Windsor, Ontario-based provider of property and casualty and employee benefits services. No financial terms were released for the deal, which closed last month. PBL President and CEO Michael Robinson will join NFP as a managing director with a focus on commercial lines. NFP, a New York-based insurance broker and consulting business, said the acquisition furthers its Canadian expansion. In December, the company bought Mass Insurance Brokers Ltd and Easyway Insurance Brokers Inc. NFP was acquired in 2013 by U.S. private equity firm Madison Dearborn Partners for about US$1.3 billion.

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