Deals and People December 12, 2014

NFP Acquires Foran Insurance and Advisory Services

NFP says acquisition of Foran’s insurance and advisory team expands its footprint and capabilities in New England markets.
Reported by

Insurance broker and benefits provider NFP expanded its employee benefit offerings with the acquisition of EBS/Foran Insurance and Advisory Services, Inc.

The transaction took effect in November, according to NFP. The Massachusetts-based Foran, with locations in Dennis and Northborough, specializes in designing health and welfare benefit plans for employers. Foran has particular expertise in serving municipality health and welfare programs, according to NFP.

Get more!  Sign up for PLANSPONSOR newsletters.

John Foran, president of Foran Insurance and Advisory Services, will remain with NFP as a director within the northeast region.

Commenting on the deal, Douglas Hammond, chairman and chief executive officer of NFP, says the acquisition “complements the strength of our Boston capabilities.” We are happy to welcome the Foran Insurance team to our NFP family and look forward to working with them.”

More information is available at www.nfp.com.

Products December 12, 2014

Gallagher Marketplace Integrates Sun Life Offerings

Sun Life Financial now offers its suite of employee benefits and insurance solutions through the Gallagher Marketplace private employee benefits exchange.
Reported by

Sun Life Financial says a new partnership with Arthur J. Gallagher & Co. expands its ability to deliver insurance products and employee benefit solutions.

Gallagher clients on the Gallagher Marketplace private exchange can now access a variety of Sun Life products, including voluntary short-term disability, long-term disability, life, accidental death and dismemberment, critical illness and cancer insurance. The arrangement brings the number of private exchanges delivering Sun Life products to five.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

The employee benefits consulting and brokerage operations of the Gallagher Co. launched the Gallagher Marketplace to help employers set predictable budgets for their employee benefits programs, the firm says, and to provide employees with a “consolidated online benefits store.”

“Expanding our offerings to private exchanges is an important part of our effort to meet the diverse needs of employers and their employees,” notes Karen White, assistant vice president of product initiatives for Sun Life. “Adding Sun Life employee benefits to the Gallagher Marketplace exchange, powered by Liazon’s technology platform, was a natural step for us, as Gallagher has been a strategic broker partner of ours since 2007.”

Rick Strater, vice president of private exchanges for Gallagher, says clients of the firm will benefit from the breadth of Sun Life’s insurance and benefit offerings. 

More information on the exchange program is available at www.ajg.com.

«