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Newfront and ABD Complete Business Combination

  • Combined company called Newfront will transform the insurance industry
  • Newfront’s modern proprietary cloud-based platform combined with deep insurance expertise redefines the antiquated model of insurance brokerage

 

SAN FRANCISCO, August 19, 2021 — Newfront Insurance, the cutting-edge technology-enabled brokerage, and ABD Insurance and Financial Services (“ABD”), a recognized innovator in employee benefits, insurance, and financial services, announced today that they have completed their previously announced merger. The newly combined company is called Newfront.  

“The closing of this combination signals the establishment of a new standard for risk management and employee wellbeing and engagement,” said Spike Lipkin, Chief Executive Officer of Newfront. “I am excited to embark on our next chapter as one united team of incredibly talented individuals. We are all thrilled to be at the forefront of the movement to modernize the insurance industry.”

Brian Hetherington, President, said, “Today marks a significant milestone in our company’s journey, one that brings together a diverse set of experts with a world-class development team to create industry specific technology to deliver a better insurance experience.”

“It is our mission to transform the insurance industry through innovation, and the closing of this transaction is a significant step towards realizing that goal,” said Gordon Wintrob, Chief Technology Officer. “As a top destination for talent, we are focused on driving the cutting edge of technology that will streamline and solve our clients’ needs. I am excited to continue to execute on our goals and to work alongside the brightest in the industry.”

Kurt de Grosz, Executive Chairman, stated, “This is a pivotal moment in our company’s history as well as the broader insurance industry. Together, we will provide the insurance industry with the necessary technology and depth of expertise to optimize the experiences of our clients.”

Advisors

Perella Weinberg Partners LP served as financial advisor for Newfront Insurance and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP served as legal advisor. Reagan Consulting, Inc. served as financial advisor for ABD and Weil, Gotshal & Manges LLP served as legal advisor.

About Newfront

Newfront is transforming the delivery of risk management, employee experience, insurance, and retirement solutions by building the modern insurance platform. Transparent data delivered real-time translates into a lower total cost of risk and greater insights. Newfront makes insurance work for you.

Headquartered in San Francisco, Newfront has offices throughout California, Washington, Illinois, and New York and is home to over 600 employees who serve clients across the United States and globally. To learn more, visit: theabdteam.com. 

Media Contact

Jane Paolucci

Senior Vice President, Marketing

jane.paolucci@newfront.com  

415-798-2693


Newfront

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Newfront

A Better Day Starts Here

Newfront is transforming the delivery of risk management, employee experience, insurance, and retirement solutions by building the modern insurance platform. Transparent data delivered real-time translates into a lower total cost of risk and greater insights. Newfront makes insurance work for you.


The information provided is of a general nature and an educational resource. It is not intended to provide advice or address the situation of any particular individual or entity. Any recipient shall be responsible for the use to which it puts this document. Newfront shall have no liability for the information provided. While care has been taken to produce this document, Newfront does not warrant, represent or guarantee the completeness, accuracy, adequacy, or fitness with respect to the information contained in this document. The information provided does not reflect new circumstances, or additional regulatory and legal changes. The issues addressed may have legal, financial, and health implications, and we recommend you speak to your legal, financial, and health advisors before acting on any of the information provided.

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