Marsh Completes Previously Announced Acquisition of Wortham Insurance
New York, NY | August 01, 2018
Marsh, a global leader in insurance broking and innovative risk management solutions, today announced that it has completed its previously announced acquisition of Houston, Texas-based Wortham Insurance.
Founded in 1915, Wortham is one of the premier independent insurance brokerage firms in the US providing property/casualty insurance, surety, personal lines, and employee benefits advice and solutions to a wide range of businesses and individuals throughout the country. With more than 530 colleagues based throughout Texas, Wortham has particular expertise in energy, power, construction, and retail sectors in addition to managing several specialty programs.
With the addition of Wortham, Marsh expands its footprint in Texas to include the Austin and Fort Worth markets. It will merge its existing operations in Dallas, Houston, San Antonio, New Orleans, and Tulsa with Wortham. The combined business will operate as Marsh Wortham under the leadership of CEO Richard M. Blades, Wortham’s former Chairman, who reports to Martin South, President of Marsh’s US and Canada division.
Commenting on the announcement, Mr. South, said: “We are excited to welcome Richard Blades and the Wortham team to Marsh as they share our values and commitment to client service. Combined with Marsh’s highly regarded colleagues, we will deliver greater value to clients in this vital US region.”
Mr. Blades added: “I have been encouraged by the positive response we have received from clients and colleagues over the last few weeks. There is a strong belief that together, Marsh Wortham will deliver unparalleled risk expertise and service to clients.”
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue over US$15 billion and 75,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.