National Financial Partners' CEO Discusses Q2 2012 Results - Earnings Call Transcript
We also acquired Fusion into or advisor services group, where we expect adjusted EBITDA margin accretion of 75-100 basis points in 2013 from that transaction. For the remainder of the year, our acquisition focus is on transactions in the corporate client group, specifically property and casualty as well as management contract buyouts. We expect to continue to use cash for acquisitions.
Turning to slide 10, we are proud of NFP’s recent industry recognition. We are number eight on Business Insurance’s 100 Largest Brokers of U.S. Business and we are the ninth top global insurance broker ranked by Best Review. This recognition results from our growing scale and One NFP operating and branding initiative. We want to thank everyone on our team for their participation in making NFP a recognized industry leader.
At this time, I would like to turn the call over to our president, Doug Hammond.
Doug HammondThanks Jessica, and good morning everyone. Our solid results in the first quarter continued in the second. This morning, I’ll focus on our key business drivers and update our outlook for the remainder of the year.You can see on slide 12 NFP’s three business segments and their percentage contribution for the second quarter. The corporate client group, which includes our corporate and executive benefits and property and casualty business, represented 44.1% of total revenue, with 7.2% organic revenue growth. The individual clients group, which includes wealth management and retail and wholesale life insurance, represented 31.6% of total revenue, with organic revenue growth of 1.5%. And the advisor services group, which includes our broker-dealer and corporate registered investment advisor, represented the remaining 24.3% of total revenue, with a 1.9% decline in organic revenue.Turning to slide 13, the corporate client group continued to perform well, with solid organic revenue growth. Our CCG Advisors are focused on delivering comprehensive client solutions while partnering with our clients to help them navigate the complex healthcare landscape in the years ahead.Read the rest of this transcript for free on seekingalpha.com
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