NSM Insurance Group, a leading insurance services company, has acquired Florida-based managing general agent GIG Insurance Group and insurance broker Gifford Wells Insurance (GWI).

GIG specializes in managing corporate and professional liability for lawyers, while GWI focuses on arranging coverage for lawyers, CPAs, doctors, architects and engineers. The two companies were founded in 2006 and 2003, respectively.

“I have the utmost respect for NSM President Bill McKiernan and the NSM leadership team, and we are truly excited to join forces to take our business to the next level of success,” said GIG President Dave Villari.

“For over 18 years, we have established GIG and GWI as essential solutions in the liability market based on our competitive coverage and ease of doing business with agents. NSM has the resources, capabilities and industry relationships to open new doors to grow our business.”

As part of the deal, whose financial terms were not disclosed, Eric Gifford will become chairman of both GIG and GWI.

“For the past two decades, our mission has been simple – to provide unparalleled liability insurance solutions and first-class service to our valued partners and clients,” Gifford noted.

“NSM is highly respected in the industry as the leader in specialty and premium insurance on both the program and retail side – and we are really excited to combine our expertise to grow our business and expand our reach.”

Meanwhile, McKernan described Villari and Gifford as having successfully built a “tremendous” business at GIG and a leading agency at GWI.

“We look forward to partnering with Eric as the new President of GIG and GWI to grow this business, particularly through cross-selling opportunities with NSM’s existing specialty insurance programs,” said McKernan.

NSM’s operations cover more than 25 specialty insurance programs and brands.

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