Marsh Acquires Sumitomo Life Insurance Agency America, Inc.
New York | May 07, 2015
Combination Expands Marsh's Employee Health and Benefit Capabilities for Japanese Companies in the US.
Marsh, a global leader in insurance broking and risk management, today announced the acquisition of Sumitomo Life Insurance Agency America, Inc.(SLIA), the employee benefits brokerage and consulting subsidiary of Sumitomo Life Insurance Company of Japan. Terms of the transaction were not disclosed.
With offices in New York, Los Angeles, Atlanta, Chicago, and Crescent Springs, Kentucky, SLIA specializes in providing a wide range of employee benefit and other services to US-based subsidiaries of Japanese companies.
SLIA employees will become part of Marsh’s Asia Client Services (ACS) team under the leadership of John McDonnell, president and CEO of ACS in the US.
“Sumitomo Life Insurance Agency America is a high-quality employee benefits firm with a solid reputation for client service excellence,” said David Batchelor, head of Marsh’s International Division. “Combined, Marsh ACS is better positioned to offer clients a full range of health, benefit, and property/casualty solutions.”
Hirofumi Shimoyama, Marsh’s Japan Country Head and Global Japan Client Services Leader, added:
“Japanese multinationals continue to look to the US for global expansion and they need a global risk and insurance advisor that understands their corporate culture and the environment in which they operate. The acquisition of SLIA is further testament to Marsh’s commitment to serve this dynamic market segment.”
“I am delighted that SLIA will become part of Marsh ACS,” said Masato Naitoh, SLIA’s president.
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 business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.