Marsh & McLennan Agency acquires Klein Agency
White Plains, NY | July 03, 2018
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, today announced that it has acquired Klein Agency, Inc., a St. Paul, Minnesota-based surety and property/casualty agency specializing in the construction industry. Terms of the transaction were not disclosed.
Klein Agency is a third-generation family-run agency. It has focused for more than 50 years on helping construction companies with their surety bonding, as well as personal and business insurance needs. All of Klein’s employees and leadership will join MMA, and continue operating out of Klein’s existing office.
“With Klein Agency’s people, resources, and expertise now part of MMA, our region will expand its ability to deliver world class surety services to our construction clients in Minnesota as well as the upper Midwest,” said Tim Fleming, CEO of MMA’s upper Midwest region.
“We’re eager to begin working collaboratively with our new colleagues at MMA. Together, we will deliver an enhanced suite of services to our clients,” said Steve Klein, Vice President of Klein Agency.
A global leader in insurance broking and innovative risk management solutions, Marsh’s 30,000 colleagues advise individual and commercial clients of all sizes in over 130 countries. 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$14 billion and nearly 65,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading firms. In addition to Marsh, MMC is the parent company of 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.