South Florida independent agency adds new offices amid record growth
NSI Insurance Group, a leading independent insurance agency specializing in risk management, employee benefits, and insurance services for businesses and individuals, recently made its third and fourth acquisitions in the past 15 months, with the purchase White Cloud Insurance and Express Insurance, both in Miami. NSI Insurance Group now has four offices throughout South Florida.
NSI Insurance Group, founded in 1958, ranks among the largest privately owned firms in Florida and operates within five business segments including personal and commercial insurance, employee benefits, and specialty programs. The company has achieved robust growth, driven by a combination of expansion in existing verticals and strategic acquisitions. The company has been continuously recognized as a “Best Practices” agency in a survey of the largest insurance agencies in the United States.
“We have continued our long-standing pattern of consistent yet conservative growth through growing our existing client base and making strategic acquisitions of top-quality insurance companies throughout South Florida,” said NSI Insurance Group CEO Oscar Seikaly. “We believe our strategy brings exceptional new opportunities for our clients and our employees as we continue to develop our firm.”
Last year, NSI Insurance Group acquired Fort Lauderdale, Florida-based Pallant Insurance, one of the largest LGTBQ-owned and managed agencies in the state. The Pallant brand continues under the same leadership as a subsidiary of NSI Insurance Group. Last summer, the company acquired Ensurgroup, based in South Miami, while the Express Insurance and White Cloud acquisitions closed in the past few months.
“As the South Florida population grows and density increases, we must become more geographically diverse and reinforce our back-office operations,” said Seikaly. “The acquisitions enable us to move quickly and improve our leverage with major carriers, which is critical during a tight market.”
According to Seikaly, the acquired agencies were all excellent cultural fits, and each firm brings expertise that benefits the entire organization. Executive leaders of each firm have been retained and continue to work with the company.