Marsh & McLennan Agency Acquires Insurance Associates
White Plains, NY | July 02, 2018
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced that it has acquired Insurance Associates, a Rockville, Maryland-based independent insurance agency specializing in the construction industry. Terms of the transaction were not disclosed.
Founded in 1956, Insurance Associates provides commercial property/casualty insurance, surety, and employee health and benefits solutions to clients throughout the Mid-Atlantic. It operates out of four offices in Rockville, Maryland; Laurel, Maryland; Towson, Maryland; and Fairfax, Virginia, and has 59 employees, all of whom will join MMA and continue to work out of their current locations.
“Insurance Associates is an excellent addition to MMA as it expands our presence into the greater Washington DC region and further enhances our construction capabilities,” said John Stanchina, president and CEO of MMA’s Mid-Atlantic Region.
Stephen Spencer, president of Insurance Associates, added: “Joining MMA is an excellent opportunity that allows us to keep and grow our local team while giving us the capabilities of a national platform to build upon our success.”
Marsh is the world’s leading insurance broker and risk advisor. With around 40,000 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 (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. With annual revenue over $17 billion, Marsh McLennan 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.
About Marsh & McLennan Agency
Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. In 2015, it expanded its national footprint into Canada. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.