NFP completed the acquisition of SDN Insurance Agency from Financial Institutions for $27m.

NFP, an insurance brokerage company that specializes in property, wealth management, and retirement planning services, completed the acquisition of SDN Insurance Agency, a full-service insurance agency offering personal, business and financial services products from Financial Institutions, a bank holding company for $27m. “In the nearly 10 years since we entered the insurance space, it has proven to be a valuable line of business that supported revenue diversification. This transaction allows us to capture strong value premium in this business at an important time, strengthen our capital position and support our continued focus on driving earnings in our core banking business,” Martin K. Birmingham, Financial Institutions resident and CEO.