The integration of HC Financial consolidates NFP’s financial planning and employee benefits offerings in Ireland. Credit: JHVEPhoto/Shutterstock.

Insurance brokerage NFP, part of the Aon group, has acquired Irish financial planning and corporate employee benefits advisory business HC Financial.

Financial terms of the transaction remain undisclosed.

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The integration of Galway-based HC Financial consolidates NFP’s financial planning and employee benefits offerings in Ireland.

Established in 1988, HC Financial offers comprehensive investment, pension and savings propositions to customers in western Ireland.

As part of the deal, the HC Financial team will move to NFP.

HC Financial founder and director Gerry Cuddy will transition into a consultant role within the organisation. Cuddy will report to NFP Ireland Benefits and Wealth managing director Colm Power.

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Power said: “Gerry and his team have built a fantastic, highly regarded advisory business with an extremely loyal client base, and we are excited they will be part of our future growth.

“This significant acquisition will help us meet the growing demand for benefits and wealth planning expertise and expand NFP’s physical footprint outside the Dublin market.”

Cuddy said: “We are excited to join NFP, a company that shares our core values of honesty, integrity, transparency and expertise.

“Today is a great day for our customers and employees and the future of NFP in Ireland as we expand the solutions and expertise available to our clients.”

With more than 7,700 employees across the UK, Ireland, US, Puerto Rico and Canada, NFP caters to various clients and industries.

It offers tailored solutions in commercial business insurance, employee benefits, people consultancy, health and safety, as well as individual financial planning.

In October this year, Aon announced the acquisition of IHI Group, a Dublin-based business that advises individuals, small and medium-sized enterprises and corporate businesses on financial and insurance matters.