NFP acquires Frontier Risk Group’s cannabis insurance operations
The acquisition brings Eric Schneider and his team to NFP, expanding the firm’s capabilities in one of the insurance sector’s most tightly regulated industries.
NFP, a subsidiary of Aon, has acquired the retail cannabis insurance operations of Frontier Risk Group. The deal integrates specialised underwriting and risk management expertise into NFP’s life sciences platform, extending the firm’s reach into a sector it describes as one of the most tightly regulated and fast-changing in insurance.
Eric Schneider, senior vice president at Frontier Risk, has transferred to NFP in the same role. He will report to Scott Foster, who leads NFP’s Healthcare and Life Sciences practice. Schneider stated that the move allows the firm to leverage NFP’s national platform and extensive resources while continuing to provide the personalised service and deep industry knowledge clients expect.
The acquisition adds Frontier Risk’s insurance expertise and cannabis-sector knowledge to NFP’s portfolio. This includes advisory work designed to help clients navigate the operational and regulatory challenges inherent in the industry. Tom Gillingham, NFP commercial risk president, said the combination of Frontier Risk’s industry expertise and NFP’s broad capabilities positions the firm to deliver innovative solutions to clients.
Frontier Risk Group will now focus on growing Strata Specialty, its multi-programme manager for risk transfer and credit support solutions. Strata Specialty builds solutions for critical infrastructure and other specialised, emerging sectors.
The transaction follows NFP’s purchase of certain assets from Signature Personal Insurance (SPI) in June. SPI, established in 2004 by Roper DeGarmo, is an independent agency based in Greater Kansas City that serves high-net-worth clients with complex risk profiles, including luxury properties and fine art.
NFP operates across the US, Canada, the UK, and Ireland. Through its ownership by Aon, the firm offers property and casualty insurance, employee benefits, life insurance, executive benefits, wealth management, and retirement plan advisory services.
The original report was created and published by Life Insurance International, a brand owned by GlobalData.
