NFP, an Aon company and a property and casualty broker and benefits consultant, announced the launch of its P&C Group Captive practice through the acquisition of Trinity Risk Advisors, LLC, a Charlotte, North Carolina-based captive brokerage firm.
The new practice is designed to support small and mid-size businesses seeking greater control over property and casualty risks and related insurance costs by pooling risk with other companies through group captive structures. NFP said the platform will help clients evaluate eligibility for group captive participation, determine the financial case for joining such programs, identify appropriate market options, coordinate placement and onboarding, and assist companies in transitioning into captive arrangements.
Alan Wise, president of Trinity Risk Advisors, will lead the new P&C Group Captive practice as managing director. In this role, he will report to Meg McSherry, managing director and head of property and casualty in NFP’s Atlantic region. Wise previously sold Trinity Consulting, a risk management and employee benefits firm, to NFP in 2015 before founding Trinity Risk Advisors.
The initiative expands NFP’s capabilities in alternative risk strategies and complements the firm’s Risk and Insurance Strategy Collective (RISC), its captive consulting and management practice based in Burlington, Vermont. RISC focuses on the formation and management of captive insurance structures, including single-parent captives, segregated cell captives, and risk retention groups, while also supporting feasibility analysis, formation, and ongoing management of captive insurance companies.
Through the new group captive practice, NFP aims to broaden access to collaborative risk-sharing models that allow companies to manage volatility in insurance costs while improving financial efficiency and long-term program stability. The practice will also provide educational guidance for NFP producers on group captive structures and the benefits they can deliver to clients seeking enhanced cost control, improved cash flow, and greater oversight of their insurance programs.
NFP said the combined expertise of Trinity Risk Advisors and its existing captive advisory capabilities will strengthen its ability to help organizations evaluate and implement alternative risk financing strategies as market conditions continue to evolve.
KEY QUOTES:
“We’re excited to formally establish a group captive solution that helps small and mid-size clients retain certain risks at lower costs. Alan’s technical expertise and leadership in managing all aspects of the group captive model will enable clients to unlock its benefits and position themselves for long-term financial strength and stability.”
Meg McSherry — Managing Director And Head Of Property And Casualty, Atlantic Region, NFP
“I’m thrilled to help launch NFP’s Group Captive practice and provide clients with a collaborative risk-sharing mechanism tailored to their risk management needs. The educational component is especially exciting. I’ll be advising NFP producers on the most effective group captive structures available in the market, helping clients achieve greater cost efficiency, improved cash flow and more control of their insurance programs.”
Alan Wise — President, Trinity Risk Advisors; Managing Director, P&C Group Captive Practice, NFP
