Print
Banking & Finance

NPF Corp. Acquires Aquesta Insurance

By Jenny Callison, posted Aug 10, 2018
Aquesta Insurance Services, formerly part of Cornelius, North Carolina-based Aquesta Bank, has a new owner.
 
On July 2, insurance broker NPF announced that it had acquired the insurance entity. Terms were not disclosed.
 
Based in New York City, NFP Corp. provides employee benefits, property and casualty insurance as well as retirement products.
 
Aquesta is a property and casualty broker that offers insurance to small- and medium-sized commercial clients as well as coastal exposures and personal insurance, according to a news release.
 
Aquesta Insurance President Ken McGee will join NFP as a director, reporting to Alan Wise, managing director in the P&C division at NFP.
 
Aquesta Bank President and CEO Jim Engel said area policyholders should not notice any differences under the new ownership. The local insurance office will continue to operate from Aquesta Bank’s building at 901 Military Cutoff Road.
 
“The buyer of the insurance agency (NFP) is maintaining all current employees and their location in our building. Therefore, there is no immediate impact on customers,” Engel wrote in an email.
 
“On a longer-term basis, this should be very beneficial to many of the more complex customers,” he continued. “This is because, as a larger agency, NFP has more ‘markets’ (i.e., insurance companies) they represent. This means they are more able to find the very best insurance product for unique or complex situations.”  
 
Ico insights

INSIGHTS

SPONSORS' CONTENT
Johndevaneycapefearclinic300x300

Cape Fear Clinic Pharmacy

John Devaney - Cape Fear Clinic
Dallas headshot 300x300

How Business Owners are Approaching Their Futures

Dallas Romanowski - Cornerstone Business Advisors
Nealjohnson 12191614553

What's the Role of the HOA?

Neal Johnson - Network Real Estate

Trending News

New Bakeries, Including Breadsmith, Coming To Wilmington

Jessica Maurer - Feb 18, 2019

City Council Set To Consider Castle Street Property's Future

Christina Haley O'Neal - Feb 18, 2019

In The Current Issue

Food Hall Trend Coming To ILM

Food halls have been popping up throughout the United States, often in downtown cores. Some estimates predict that there could be more than...


Tourism Group Names Azalea Festival Top Event

The Southeast Tourism Society recently named the N.C. Azalea Festival one of the group’s Top 20 Events in the Southeast for April this year....


Navy Week To Coincide With Azalea Festival

The U.S. Navy is coming to the Port City this spring, coinciding with the N.C. Azalea Festival. Wilmington is among the 14 selected sites –...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Health Care Heroes 2018
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties