Rose & Kiernan Joins Forces with NFP to Better Serve Our Clients
On Friday, July 31, 2020, Rose & Kiernan, Inc. (R&K) was acquired by NFP, a leading insurance broker and consultant with extensive global resources that provides property and casualty (P&C), corporate benefits, retirement and individual solutions. R&K will now operate as a wholly-owned subsidiary of NFP.
The change presents a tremendous opportunity to better serve our clients and grow our business, but it doesn’t change how we do business. We’ve always valued the relationships we have with our clients, and nothing about those relationships will change. The R&K leadership team, employees and offices will remain the same, as will our uncompromising dedication to our clients and our community.
“This is a very exciting chapter in our firm’s history. The people at NFP share our values and respect the way we do business – that was critically important to the R&K team when making this deal,” said John F. Murray Jr., our president, chairman and CEO. “NFP also gives us access to an expanded roster of highly-rated insurers, including many from across the globe. This will enhance our ability to help clients manage costs while getting them the coverage terms they need. In addition, NFP is recognized as an industry leader when it comes to innovation and the use of technology to improve operations and performance.”
Amidst all of the excitement, there are some questions we knew that clients might have, that we’d like to provide answers to:
Who is NFP?
NFP is the fifth largest benefits broker by global revenue. Headquartered in New York City, NFP has over 170 offices in the U.S., Canada and the United Kingdom. NFP is committed to a thoughtful and customized integration of our firm with the goal of making a better client and employee experience.
What happens to R&K’s Executive and Leadership Team, employees and offices?
Our CEO, John F. Murray Jr., and our EVP and CFO, Joe Vitale have committed to a minimum of four years of continued service. Murray will continue to lead the R&K subsidiary, working with the same Executive and Leadership Team. All R&K employees are joining the new firm, and all R&K offices will remain open.
What will happen to the R&K brand name?
For the time being, we will continue to operate using the R&K brand name. We will have the option to change our name to NFP as early as the spring of 2021 if it is determined to be to our collective advantage.
What happens to the R&K Charitable Foundation?
The Rose & Kiernan Charitable Foundation is still a fully independent 501(c)(3) charitable corporation controlled by active R&K management and, as always, is committed to supporting the communities where we live, work and raise our families.
The team at R&K is very excited to move forward as part of NFP, and to bring expanded resources, capabilities and solutions to all of our clients. If you are a client with any questions, suggestions or thoughts, please reach out to your client manager or producer directly. You can always contact us here or by calling our general line at (800) 242-4433. Also, follow us on Facebook, Twitter and LinkedIn for more news and updates.