The latest acquisition in the specialty sector for NFP;
NFP, an Aon company (NYSE: AON), and leading property and casualty (P&C) broker and benefits consultant, has announced the acquisition of the retail cannabis business of Frontier Risk Group, Inc. (Frontier Risk), a specialty insurance company that provides solutions to the cannabis industry and regulated-products clients.
Frontier Risk combines insurance expertise, risk management advisory services and industry knowledge to help clients navigate the operational and regulatory challenges associated with the cannabis market. Eric Schneider, senior vice president, Frontier Risk, will join NFP with the same title, reporting to Scott Foster, Healthcare and Life Sciences practice leader for NFP.
“We’re excited to welcome the Frontier Risk team to NFP and begin building on the strong business they have created to serve clients with distinction,” said Tom Gillingham, President of Commercial Risk, NFP. “Cannabis operators face a risk environment shaped by evolving regulations, changing market dynamics and specialized insurance needs. By bringing together Frontier Risk’s deep industry expertise and NFP’s broad risk management capabilities, we’ll be better positioned to deliver value and innovative solutions to clients.”
The acquisition expands NFP’s presence in a highly specialized sector that requires deep regulatory knowledge, tailored risk management strategies and industry-specific insurance expertise. Its capabilities complement NFP’s existing life sciences platform and the company’s ability to serve clients operating in highly regulated industries.
“Frontier Risk’s cannabis business is a natural fit for our Life Sciences practice,” said Foster. “Their specialized expertise in the cannabis sector expands our ability to serve businesses operating in highly regulated industries. Together, we’ll offer clients deeper industry insight, more specialized risk management guidance and access to the broad resources of NFP’s national platform.”
Following the sale of its retail cannabis business, Frontier Risk will focus on scaling Strata Specialty, its multi-program manager that develops innovative risk transfer and credit support solutions for critical infrastructure and other highly specialized, emergent categories.
“Joining NFP is an exciting next chapter for our team and our clients,” said Schneider. “NFP’s national platform, broad specialty expertise and extensive resources will enhance our capabilities, while allowing us to continue providing the personalized service and deep industry knowledge our clients have come to expect.”
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