NFP — an insurance broker and consultant that started out with roots in life insurance, and then became better known for its property and casualty operations — has announced two major new life insurance-related relationships.
(Related: $10 Billion RIA Rebrands After Merger)
The New York-based firm says it has received an exclusive endorsement from the American Bankers Association (ABA) for bank-owned life insurance (BOLI) and executive benefits.
NFP recently acquired Equias Alliance. Equias had the old ABA endorsements for BOLI and executive compensation arrangements.
The new announcement means that the ABA has transferred the Equias endorsement to NFP, as a result of NFP’s acquisition of Equias, NFP says.
NFP says it now provides BOLI services and nonqualified plan services for about 1,250 banks.