NFP
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The moves are expected to enable NFP to form and administer Alberta-domiciled captive insurance companies for their clients. -
Debenport joins the energy practice within NFP's specialty business.
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Based in Toronto, the executive will report to Guy Jolicoeur, NFP Canada technical risk construction surety natural resources managing director.
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A tougher environment for debt financing and a potential recession will reverse some of the remarkable tailwinds of recent years.
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The industry veteran, who joins the broker from Markel Canada, will focus on the firm’s mid-market business.
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Based in Chicago, the executive will report to NFP’s cyber senior vice president Rick Cavaliere.
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The executive joined the company last September after the acquisition of Thompson Flanagan, where he was a partner for over 17 years.
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The realignment reflects the increased scale of the firm’s wealth management and retirement businesses, which have around $445bn in combined assets under management.
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The deal comes after NFP bought KGJ in the UK and Thompson Flanagan in the US last year.
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The executive will serve clients in the global oil and gas, power, mining and marine industries.
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The company is on the look-out for M&A opportunities in Western Europe and Latin America.
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The P&C division grew overall revenue to $633mn in 2021, expanded adjusted Ebitda to $178mn and adjusted Ebitda margins by 210bps to 31.5%.
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