Middletown broker KGS Insurance Services has been acquired by a New York City-based firm for an undisclosed sum.
The acquirer NFP is a consultant and broker that provides employee benefits, property and casualty, and retirement and individual private client services. The acquisition expands NFP’s benefits offerings in the Northeast and in the Connecticut marketplace, said Justin DelVecchio, NFP’s managing director.
KGS owner Kelly Smith will serve as a vice president in NFP’s Middletown office, providing services through NFP’s corporate division, he said.
DelVecchio called the acquisition and Smith “a natural fit” for the company.
